Wills & POA
We can prepare Wills and Powers of Attorney that ensure your estate is distributed according to your wishes and that you have a person you trust making the important decisions on your behalf when you cannot.
Wills & Power of Attorney
Power of Attorney
A Will is a legal document that sets out how you intend to distribute your estate assets among your beneficiaries after your death. Your Will will name at least one individual that you trust (Executor or Estate Trustee) to carry out the stated instructions set out in your will. If you do not have a Will, upon your death, no one will be authorized to administer your estate. Instead, a court application will have to be commenced to grant the applicant authorization to administer your estate. In addition, if you do not have a will, your estate assets may not be distributed to individuals of your choosing.
We can assist you in ensuring that your estate is properly set up and that your assets are left to your selected loved ones by meeting with you and developing an estate plan that gives you peace of mind.
Power of Attorney
Powers of Attorney for Property and Powers of Attorney for Personal Care are legal documents that give someone you trust the right to make financial or health care decisions for you. It essentially gives an individual the power to act on your behalf when unexpected circumstances occur. They are only in effect during your lifetime and once you pass, your Will comes into effect.
A Power of Attorney for Property gives your selected individual the power to deal with all your personal and real property such as paying your bills, settling debts or selling real property.
A Power of Attorney for Personal Care gives your selected individual, the power to make decisions pertaining to your health and well-being such as medical treatments, nutrition, shelter, or clothing.
If you do not have a Power of Attorney, it may be necessary for your caregiver, spouse, or relative to commence a court application granting him/her guardianship over you or your property.
We can prepare effective Powers of Attorney for you to minimize costs and delay in your care and well-being and ensure that a person who you trust is appointed to make these very important decisions on your behalf in the event of unforeseen circumstances.
Frequently Asked Questions
Do I need a lawyer to write a will?
A lawyer will ensure that the Will is properly drafted and executed. A lawyer will discuss how to best plan your estate to maximize the benefit to your beneficiaries.
What types of wills are there?
There are two types of Wills: a Primary Will and a Secondary Will. A primary Will typically deals with all your personal and real property. A secondary Will typically deals with assets that do not have to be probated. Normally, individuals who own shares in a corporation will have a Secondary Will as a strategy to avoid paying Estate Administration Taxes on these assets.
Who executes a will?
The Testator and two witnesses. The witnesses cannot be beneficiaries or anyone who stands to gain from the death of the testator. It is best to ensure that the witnesses are neutral third parties with no interest whatsoever in the testator’s estate.
What happens if I do not write a will?
If you do not write a Will, your estate will be distributed in accordance with The Succession Law Reform Act. This means that your estate assets may be distributed to those who you do not wish to benefit.