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[00:10] Welcome to a new episode of “Just A Minute” by Landmark Law. Today’s episode is presented to you by Abi on December 23rd, 2022 to help educate our listeners on various legal scenarios.
[00:20] BELL CHIME
[00:21] Today’s topic will be on ‘jointly” and ‘jointly or severally”. I’m sure you must have all been curious about those terms when listening to my previous podcasts on the meaning behind “Standard”.
[00:34] To start off, jointly and jointly or severally refer to how multiple Power of Attorneys would act together. Jointly would mean that every named attorney would act unanimously. For example, they would all need to sign or authorize decisions together.
[00:50] Jointly or severally, on the other hand, would mean that any one of the named attorneys may act individually to sign or authorize decisions, or all of them may sign if they choose to. This is done for flexibility and convenience between the attorneys.
[01:04] If you are interested in drafting your Will, please visit Landmarklaw.ca to learn more, and make sure to tune in for next week’s episode on the importance of Wills.