Did you know that if your spouse/partner became incapable and you owned property together you would not be able to sell or re-finance that property?
Did you know that if your spouse/partner became incapable and you did not have joint bank accounts that you would not be able to access any of the monies in their bank accounts or savings, even if you had contributed to these accounts?
People take for granted that if they are creating a life together it does not matter in what form their assets are held. This is wholly untrue. This is no where more evident than when an individual becomes incapable. Suddenly everything is determined by the manner in which their assets were held. If they are not held jointly then they will be managed by the Office of the Public Trustee unless they have prepared a Power of Attorney to deal with this situation. In the case of property, even if held jointly the capable individual would still be unable to deal with the property unless the incapable person had prepared a Continuing Power of Attorney granting them this ability.
Dealing with a loved ones incapacity is a difficult and emotional situation. Trying to deal with the situation while also being blocked from accessing your finances becomes incredibly difficult.
Let Michele Gordon , Barrie lawyer , help you protect your assets with a Continuing Power of Attorney for Personal Property