Layout Image

Archive for Legal Guidance Calgary

A will distributes your assets to others after you have died. A power of attorney, on the other hand, appoints a representative to manage your assets and finances while you are still alive. The representative appointed under a power of attorney has a fiduciary duty to the person who has appointed him or her. A fiduciary duty means that the representative (the attorney) must act in utmost good faith and exercise his or her powers in the best interests of the person who appointed the representative. The attorney is not entitled to get rich off of the assets of the donor (the person who appointed the attorney). In fact, in most cases, the attorney has to keep detailed records of any money spent on the donor’s behalf, and may later be called upon to justify any expenses incurred. Contact Russ Weninger for legal guidance Calgary.

That depends on the circumstances. Testamentary freedom (the right to deal with your assets as you see fit) is sometimes limited by public policy considerations. A court may consider any number of legal loopholes to overturn a racist or sexist provision in a will. I would strongly advise against such provisions.

That depends on whether the beneficiary is found guilty of your murder. If the beneficiary gets away with your murder, he or she may still benefit from your estate. If the beneficiary is found guilty of your murder, he or she is not legally allowed to profit from the crime.