The short answer is that we cannot predict the future as to when we might be in a life-altering car accident, a debilitating illness or rapid cognitive decline. Think of your estate planning as the cheapest form of insurance.
As such there are three documents you want to consider in your estate planning. The first is a Representation Agreement for medical decisions. The second is an Enduring Power of Attorney, which is for financial or business decisions. Lastly, your Last Will sets out how you want your assets to be administered upon your passing. A Representation Agreement and Enduring Power are valid while you are living, but unable to make your own decisions. They are very powerful documents.
Any guidance provided is not covered by solicitor–client privilege, nor is it taking into consideration all of the facts of your matter beyond those in the question. The legal information is specific to British Columbia Law. If you want a more thorough and case-specific analysis of your legal matter, please contact us to arrange a consultation.