A heart felt story of Financial Independence

Instead of getting into all the legal “mumble jumble” of Representation Agreements, I want to share this video of one man’s journey to seek financial independence.

The Nidus Registry in British Columbia is currently the only community-based resource in Canada devoted to personal planning. Its existence sets British Columbia apart as a leader in addressing the critical needs of an aging population.

Nidus is a Latin term for nest: a symbol of safety, support and self-development.

The Nidus Personal Planning and Resource Centre and Registry is set up to allow adults (anyone over the age of 19 in British Columbia) to make legal decisions regarding their health directives immediately or enable people to plan for their future.

This video is a wonderful example of what 20 plus years of community leaders, lawyers, advocates working together can accomplish by create a legal document that serves the needs of not only seniors but also allows each of us to plan for our future and not leave us or our family in despair or family conflicts.

Here are some terms that people should be familiar with;

Representation Agreement: A legal document that enables someone to represent you in health care decisions.  Two types of Representation Agreements exist – a RA7 is for people who need to make health care decisions immediately and a RA9 allows people to plan their health and some financial decisions in the future.

Power of Attorney (POA) : A legal document that enables someone to make financial decision on your behalf.  A POA can be narrow or broad in scope and is only in effect until you are incapable of making your own decisions.  Once you no longer have mental capacity, the POA ends.

Enduring Power of Attorney (EPA): A legal document that enables someone to make financial decisions on your behalf once you no longer have mental capacity.

Living Will:  A living will is recognized in the United States but is not a legal document in British Columbia.  You can write out a Living Will that expresses your wishes and give it to your Representative to assist them in making decisions.

That’s all the legal jargon I’ll write about today.  Although the Representation Agreement is a document that  is unique to British Columbia, I hope this blog has all of you thinking about seeking information so you can plan for your future. After all, once you are an adult in your jurisdiction, you need to know what to put into place so other people can assist you in health care decisions if you are not able to make those decisions yourself.

Car Accidents, Emergency Surgery, Dental Procedures, End of Life Decisions…. need I say more?

To learn more about The Nidus Registry their website is located at: http://www.nidus.ca/

 

 

 

 

Comments

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