Wills and POA's

[nobbie48]

I don't know if this is the right forum for this and mods feel free to move it. I put it here because we tend to focus on the riders, neglecting those near to them. Their suffering may be longer.

Also there is little sense in combative replies.

When we type RIP someone will be in mourning but soon will be dealing with the estate of he deceased. A lot of people fear wills but death at some point is inevitable. If you care for your loved ones make the second stage of your passing as easy on them as possible by having a current will.

When we type GWS, particularly with "Life altering injuries" it can mean loss of limbs, paralysis, or mental capability. Again, have powers of attorney for health and finances, designating individuals to look after your needs when you are no longer able to.

If you haven't kept the POA's up to date an ex-spouse from hell may be ticking the wrong boxes for your future existence.

 

[GreyGhost]

Also stay on top of beneficiaries. My brother gets my tangerine (formerly ING) accounts as my wife wasnt in my life when I set them up. Not a big deal in my case as there isnt a lot there and he would transfer it back but it could cause real issues in some cases. There was a recent news piece where the decedent's mom got his pension and not his longterm partner who was left in a mess.

 

[shanekingsley]

Also stay on top of beneficiaries. My brother gets my tangerine (formerly ING) accounts as my wife wasnt in my life when I set them up. Not a big deal in my case as there isnt a lot there and he would transfer it back but it could cause real issues in some cases. There was a recent news piece where the decedent's mom got his pension and not his longterm partner who was left in a mess.

This is a great point. When my Dad passed away he had not updated his banking info and had designated his kids as the beneficiaries. Yay free money for us! But that was bad advice given to him that would have meant a major tax hit (and we didn't even want the money). So it took a year of many hurdles to get the banks to transfer the funds to my Mom instead with zero tax hit (for now).

In addition, if it makes sense for your situation, additional accident benefits can be purchased through your motorcycle insurance policy. I have purchased a significant top up to ensure my wife doesn't have financial concerns related to major medical therapy if something should happen to me while riding. It adds a few hundred each year onto my premiums, but for the peace of mind it will give her, it's worth it to me.

There was a good thread on here a few years ago. Lot's of good tips in it and it actually prompted me to go and get our affairs in order, especially given how much we like to travel and take risks.

Make up your Wills, Power Of Attorney (money and medical) and for goodness sakes...

PLEASE take the time to let your family know your wishes with respect to whether you want medical resuscitation if you need it and generally what your wishes are around these matters. We lost my wife's mother 4 years ago and it was very sudden and sad. However, she was gone in the blink of an...

www.gtamotorcycle.com

We used a place in Mississauga for our wills and the fee was $1500 for both our wills, which includes unlimited lifetime revisions. In the years since we have done our wills, we have already made a few revisions, so it's already made sense for us. They were pretty smooth and easy to deal with, especially making changes to our wills in the middle of the full lockdown. Everything was done either online or by phone and we only had to go to the office for a wet signature (we stayed in the car and they brought the docs out to us to sign). Great service overall.

Pricing

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[POWERMAN]

Excellent topic - thank you for bringing this up!
Lot of useful info up above.

I had contacted Glendale and met with one of their reps when I turned 30 to look into preplanning my funeral arrangements.
Here is what I had to have in order to complete the necessary paperwork:

- Personal Information (name, dob, SIN, occupation etc)
- Contact information of close family members, friends and relatives
- Medical information, Physician contact info, Power of Attorney, health card info etc
- Dates of special events and or birthdates etc that matter to you
- Biographical info ( school, uni, special achievements etc)
- Will
- Deed to Home
- Birth Certificate
- Bill of Sale/title for any motorvehicles
- Marriage License
- Certificate of ownership of cemetery lot or crypt
- Life insurance policies
- Certificate of funeral arrangements
- Accident or Health policies
- Latest tax return(s)
- Property damage insurance
- Citizenship papers
- Stock certificates/bonds etc
- Military discharge papers if applicable
- Copy of Mortgage or lease
- Other important documents (banking, credit card, rrsp, gic etc) or valuables
- passwords to any social media or email accounts, safe lock password etc


The cheapest type of burial I could find was around ~10k all in all -> this meant no church ceremony, they simply put my body in a cardboard box and dump it into one of their lots that I get to pick...they promise to keep the grass above me mown and fertilized lol.

 

[GreyGhost]

Excellent topic - thank you for bringing this up!
Lot of useful info up above.

I had contacted Glendale and met with one of their reps when I turned 30 to look into preplanning my funeral arrangements.
Here is what I had to have in order to complete the necessary paperwork:

- Personal Information (name, dob, SIN, occupation etc)
- Contact information of close family members, friends and relatives
- Medical information, Physician contact info, Power of Attorney, health card info etc
- Dates of special events and or birthdates etc that matter to you
- Biographical info ( school, uni, special achievements etc)
- Will
- Deed to Home
- Birth Certificate
- Bill of Sale/title for any motorvehicles
- Marriage License
- Certificate of ownership of cemetery lot or crypt
- Life insurance policies
- Certificate of funeral arrangements
- Accident or Health policies
- Latest tax return(s)
- Property damage insurance
- Citizenship papers
- Stock certificates/bonds etc
- Military discharge papers if applicable
- Copy of Mortgage or lease
- Other important documents (banking, credit card, rrsp, gic etc) or valuables
- passwords to any social media or email accounts, safe lock password etc


The cheapest type of burial I could find was around ~10k all in all -> this meant no church ceremony, they simply put my body in a cardboard box and dump it into one of their lots that I get to pick...they promise to keep the grass above me mown and fertilized lol.

Thanks. The box was cheaper than cremation? I figured the reduced land required would more than offset the gas used.

 

[Hardwrkr13]

Really good reminder here and yes my wife and I are having our wills drawn up this winter after our second (and last) child is born.

 

[POWERMAN]

Thanks. The box was cheaper than cremation? I figured the reduced land required would more than offset the gas used.

No - Cremation is still the cheapest - I didn't ask about the mausoleum but I suspect it will still be cheaper than burial.

For burials - the cardboard box option was cheapest I could find.