ESTATE PLANNING & ESTATE ADMINISTRATION
Wills
Estate planning is one of those things that no one wants to think about, but most people would prefer to have a say in how their estate is distributed, to whom, and on what terms. Whether it be your spouse, your children, extended family, or even specific charitable organizations, the decision should be yours. Without a will, provincial legislation determines who will benefit from your estate and those beneficiaries must wait for the courts to deal with the administration. Decisions like when minor children will receive the money will be left to the courts. Also, if you have children, a will allows you to name a guardian, subject to ratification by the courts, providing your children with some security immediately after your passing.
A lawyer who is experienced in estate planning and administration knows how to draft a will that allows you to:
A lawyer can also give you simple advice on things you can do while you are still living to make your estate management simpler when the time comes. They can also advise you of what needs to be in your will and what does not, saving you valuable time and stress.
Powers of Attorney for Property and Personal Care
It is also important to consider who will make decisions for you if you become temporarily or permanently incapable due to health reasons. Who will manage your money? Who will make your medical decisions? Powers of attorney allow you to designate someone to immediately deal with your financial or personal care decisions and outline certain specific instructions about your wishes with regard to those decisions. A lawyer can help to explain the roles and responsibilities of your Attorneys for Property and Personal Care and can draft powers of attorney that keep your wishes in mind and that outline the specific powers that your attorneys will have when you are incapable.
Estate Administration
The loss of a loved one is difficult in its own right, but having to deal with the estate as well can be particularly challenging. Having guidance through the process can ease much of the stress of administering an estate. Whether you need a one-time appointment to get some advice about how to proceed, someone to help with certain issues, or someone to be there through the entire process, feel free to contact our office and we'd be happy to help.
Estate planning is one of those things that no one wants to think about, but most people would prefer to have a say in how their estate is distributed, to whom, and on what terms. Whether it be your spouse, your children, extended family, or even specific charitable organizations, the decision should be yours. Without a will, provincial legislation determines who will benefit from your estate and those beneficiaries must wait for the courts to deal with the administration. Decisions like when minor children will receive the money will be left to the courts. Also, if you have children, a will allows you to name a guardian, subject to ratification by the courts, providing your children with some security immediately after your passing.
A lawyer who is experienced in estate planning and administration knows how to draft a will that allows you to:
- minimize tax consequences and maximize the gifts left to your beneficiaries
- control the timing and use of funds, keeping minor children or other beneficiaries cared for after your passing
- control the powers of your trustees, allowing them powers and responsibilities according to your wishes
A lawyer can also give you simple advice on things you can do while you are still living to make your estate management simpler when the time comes. They can also advise you of what needs to be in your will and what does not, saving you valuable time and stress.
Powers of Attorney for Property and Personal Care
It is also important to consider who will make decisions for you if you become temporarily or permanently incapable due to health reasons. Who will manage your money? Who will make your medical decisions? Powers of attorney allow you to designate someone to immediately deal with your financial or personal care decisions and outline certain specific instructions about your wishes with regard to those decisions. A lawyer can help to explain the roles and responsibilities of your Attorneys for Property and Personal Care and can draft powers of attorney that keep your wishes in mind and that outline the specific powers that your attorneys will have when you are incapable.
Estate Administration
The loss of a loved one is difficult in its own right, but having to deal with the estate as well can be particularly challenging. Having guidance through the process can ease much of the stress of administering an estate. Whether you need a one-time appointment to get some advice about how to proceed, someone to help with certain issues, or someone to be there through the entire process, feel free to contact our office and we'd be happy to help.