We live in stressful times. There may be many things about the outside world that we can’t control, a notary can help you reduce some stress and anxiety. Notarial services can help you live a healthier, wealthier life.
In the article, we’re going to share different ways a notary can help you reduce stress for yourself and your loved ones with estate planning essentials.
Reduce Stress With A Will
Having a Will helps reduce any undue stress for your loved ones when you pass. Your Will provides guidance for how your loved ones should settle your affairs after your passing. Without one there may be no clear guidance on how your estate is to be distributed and your loved ones may end up in court to seek resolutions.
Settling Of Your Estate
When you pass, your assets (what you own) will be given to your beneficiaries as outlined in your will. Without this, the courts will decide how your assets are distributed and it may not support those who you feel need it most.
When you pass, your assets (what you own) will be given to your beneficiaries as outlined in your will. Without this, the courts will decide how your assets are distributed and it may not support those who you feel need it most.
Your Final Wishes
Without a Will, surviving family members may argue over your final wishes. With a Will, you can let them know your wishes and state how they are to be carried out. This may include how you want to be interned (which can be a major point of contention between surviving family members).
In your Will, you can also let your loved ones know what arrangements you’ve made for funeral services. Funerals can be a costly event, costing thousands of dollars, and your loved ones may not have the money to pay for it, and that puts them in a stressful situation. You can make arrangements to plan and pre-pay for your funeral now, and outline the details in your Will, so your loved ones don’t have to worry about the anxiety of planning and paying for your services. It’s a great gift you can give your loved ones.
Reduce Stress For Your Children
Children are resilient, but when their parents pass it can be a stressful time. With an up-to-date Will, you can ensure that they are taken care of and their assigned guardians know what to do. This gives your children peace of mind and can begin settling into their new home and returning to some level of normalcy sooner, than if it was left up to the courts to decide guardians.
Your Will can also help ensure they are financially supported too. You can distribute a percentage of funds to your children in the form of a trust, or provide it to their guardians to be used for their care and upbringing.
Assign Alternate Beneficiaries and Executors
It can be a hassle to update your will every time someone named in it passes away or is unable to carry out the duties assigned to them. You can save yourself unnecessary stress and anxiety by naming alternates for your beneficiaries and executors. This way, the responsibilities will automatically fall to the next inline automatically. The only time you would need to amend this document is if you had another reason to remove someone from your will (for example, you’ve had a falling out).
As a notary, I always suggest choosing a trusted family member or friend that you have known for a long time, and who you know will respect your wishes.
Reduce Stress With A Power Of Attorney
You can also take undue anxiety and stress off yourself while you’re alive by assigning a Power of Attorney in certain circumstances. Your appointed “Attorney” can handle responsibilities including buying/selling property, paying bills, and handling other financial matters. Unless you stipulate limits on their power, they can manage any property and financial matters that you would have.
For example, if you plan to be out of the country for an extended time, you can assign a power of attorney to handle your bill payments and deposit cheques on your behalf, until you return.
A Power of Attorney can also be used to represent you during the buying or selling of real estate. If you plan to create a Power of Attorney for real estate transactions, it’s important that the legal paperwork of the agreement be done correctly by a notary or lawyer or the Land Title Office will not accept the registration and their powers to execute the transaction on your behalf will be cancelled. When done successfully, the Attorney’s power will end when the transaction has been completed.
For Power of Attorney that lasts longer, you can assign an enduring power of attorney to handle your matters when you become incapacitated. This is helpful to ensure bills are paid and your legal and financial matters are taken care of if you are ill and unable to make decisions on your own.
Reduce Stress With A Representation Agreement
When you’re sick, you’re under a tremendous amount of physical and mental stress and anxiety. You have a better chance to heal if you can dedicate yourself to your recovery and not handle your day-to-day financial and legal responsibilities. This is when a Representation Agreement becomes helpful to reduce your already high anxiety and worry when you are sick.
A Representation Agreement allows another trusted person to make crucial decisions regarding your personal and healthcare matters or your legal and financial affairs. For your peace of mind, you can specify what circumstances and how long this person can make decisions on your behalf.
How A Notary Can Ease Your Stress
A notary can help you prepare for the unexpected and ensure that you and those around you are taken care of. With an up-to-date Will, Power of Attorney, and Representation Agreements - you can take action to minimize stress and anxiety for yourself when you become unable to handle certain day-to-day affairs yourself and to provide guidance and support for your loved one after you pass.
If you need help to update or create a Will, Power of Attorney, or Representation Agreement, contact my office today and we’ll get your paperwork in order so you can relax again