REVIEWING & CHANGING YOUR WILL & POWERS OF ATTORNEY PACKET

Introduction

This packet incorporates two articles and one checklist that I have written entitled, Changing Your Will, Estate Planning for the Average Canadian and Reviewing Your Will and Powers of Attorney Checklist. Also included, is my Change of Will and Powers of Attorney Questionnaire, Will and Power of Attorney Asset Information Form and Fee Schedule.

My process when clients wish to revise their Wills and Powers of Attorney that were originally done by me is as follows:

I ask for instructions in writing from my clients by completing the Change of Will and Powers of Attorney Questionnaire and if easy and convenient it can also be accompanied by a photocopy of the old Will and Powers of Attorney with the proposed changes written in. The questionnaire asks for an explanation as to why the changes are being made to ensure the Will will not be challenged. Perhaps, someone was receiving money in the previous Will and is now being cut out of the updated Will. Also to avoid a challenge to the Will, I ask for updated financial information, as a factor in determining competency to make a Will, one must have knowledge of one's assets. Obtaining the updated financial information is done by the Will and Power of Attorney Asset Information Form on my website, or just a brief explanation in writing as to assets and debts and their values. This financial information might also suggest the possibility of more sophisticated estate planning. Once I receive these forms , I generally might call the client for further information and clarification or I will simply send out the draft Will and Powers of Attorneys for my client to review. I try to do that usually within a week of receiving the information or sooner if the client advises there is an urgency. The client can then email me or my staff or comment by phone as to changes and to make an appointment to sign. Therefore to keep the costs down, I see my clients only once, when the revised Will and Powers of Attorney are signed.

The cost of revising Wills and Powers of Attorney where I had done the Will and Powers of Attorneys originally, though the client is getting a completely new Will and Powers of Attorney, is about two-thirds of the regular cost. Attached is my Fee Schedule for Wills and Powers of Attorney which includes the cost to revise them. The client will receive a new manual with the up to date memorandums in the manual. If the Will and Powers of Attorney are identical to the old Will and Powers of Attorney but are only being done because of a marriage I have a reduced fee (consider it a wedding present ).

If you wish to talk to me first before sending me the information in writing, please feel free to do so. If the changes are really simple, I might fill out the Change of Will and Powers of Attorney Questionnaire over the phone though I would still want the Will and Power of Attorney Asset Information Form filled out.

If the changes are such that the client wishes a consultation first at my office, which sometimes is the case in complicated family matters, then the cost would be the regular price of doing a Will and Powers of Attorney for the first time as just as much or more time might be spent on the file and there are two appointments in total.