Before clients leave Canada, they’ll need to ensure that wills and powers of attorney are up to date.
> WILLS. Of course, your client already has a valid Canadian will. It is valid for property outside Canada, so if the client has a vacation home elsewhere, there is no need to draw up a second will in another country.
“Two wills can be a nightmare,” says Douglas Gray, a Vancouver-based lawyer. “The out-of-country will would nullify the Canadian will with the standard clause stating this will revokes all previous wills.”
Instead, Gray says: “Have your client’s Canadian lawyer either rewrite the will or add a codicil specifying what the out-of-country assets are and what should be done with them upon the client’s death.”
> POWERS OF ATTORNEY. Unlike wills, a POA drawn up in Canada and giving another party authority to handle your client’s affairs if your client should become incapacitated may not be valid in some countries and U.S. states. Gray suggests both your client and the client’s spouse have POAs drawn up in the location where they are vacationing.
—ROSEMARY MCCRACKEN
”Two wills can be a nightmare”
- By: Rosemary McCracken
- March 31, 2008 March 31, 2008
- 14:50