Unlock the Legality of eSignature for General Power of Attorney in Canada

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let me tell you about a story about a client um but it's something that happens often so my client is married and they have one child right and um you know he comes to me to write his wills and powers of attorneys and the first question really is you know like what happens if something happens to me and i leave everything to my wife and what if she remarries right and like how do i make sure that what she gets doesn't end up in the like in somebody else's hands and then our child gets cut out of his inheritance you know and so that's a really really good question and it's something that some people think about some people don't but it really highlights why writing a will is a financial planning exercise so it's like such a big deal financially you can't just this is why going online and writing your rule yourself is you know it's so risky because you don't you don't understand how it works so let me just tell you how it works right like if you have everything jointly with somebody so in this situation if his all of his assets are held jointly with his wife and even if he writes a will right like if everything's held jointly and he passes away everything will just go to her it's called the writer's survivorship okay that's what happens when we own joint stuff with people so what do we do so if he come when he comes to me and he tells me this i said my first thing is well what we have to do is we basically need to separate all your assets if you want to protect them you have to separate them all okay you guys both need wills but let's just talk about your stuff for example you need to separate all your assets and you need to say okay well if something happens to me all my stuff is in my name is gonna be frozen in my name and it's gonna be under the umbrella of the will so the will is going to like tell us what to do with this stuff and the will will basically say so everything i have i'm going to make it really simple everything i have my wife can use okay my wife can use all the bank accounts she can use them maybe you know we'll have it handled by somebody or you know payments a certain type of way but basically we're setting up like a fund it's called a trust fund okay and so she can use it during her lifetime and so that way she's comfortable she gets use of the house the properties whatever it is but in the event that she remarries and so we put conditions on it in the event that she remarries or in the event that she passes away then i'm gonna say that it goes to our child and that way you have full control over what happens and you don't have to worry about if there's a remarriage or something else happens right um because equally you could pass away so like in the situation he could pass away he could leave it all to her maybe she doesn't really marry but maybe she rewrites her will and maybe she gets mad at the son or something and then gives it all away or you know to charity or whoever and it's not what he would have wanted and it's like everything that you worked hard for together and um and just gone right so writing a will is all about that it's about financial planning it's about what do you have how do you own it what are the different scenarios on what could happen and how are we going to create a plan that's best for you and maybe that's the best thing like you know making a trust fund maybe that's the best thing for now but maybe like you're married for like 40 years and you're now like 80 something years old or whatever and you don't care anymore it's fine right like you don't have that mistrust or not even mistrust you know the probability it's up to you right how you feel but that this is the things that kind of change your plan so you know that's like just how we plan and how things evolve with our lives and how you make sure that you know everybody that you care about is protected and uh and yeah and so it's such an important thing that's why you need the best advice