Estate Planning addresses all areas of personal or real property left behind at the time of death or decay in health. The essential purpose of Estate Planning is to ensure that the interests of your loved ones are protected. In a recent survey, it was established that 51% of Canadians do not have a Will. Our firm believes that estate planning is an essential step for family members to protect their wealth and assets from uncertainty.
FREQUENTLY ASKED QUESTIONS
Top 5 Frequently Asked Estate Planning Questions:
Do I need to have a Will drafted?
It is highly encouraged to have a Will drafted in order to leave instructions on how you would like your estate to be distributed at the time of your passing. It may become highly problematic for your loved ones to have access to your estate if they are left without a Will otherwise known as dying intestate. You may also trigger higher estate taxes, more time spent to have access to the funds or no access to the funds.
Who should I appoint as my Estate Trust Trustee?
A good choice would be someone you trust like a close friend or family member who is willing and ready to take on the role. Further to this we suggest that you ask this friend or family member before you have their name drafted into your Will. Whom may have seemed like a good person to perform the duty of an Estate Trustee may not what to take on the role.
How should I have assets distributed to my children?
A divorce is a legal end to your relationship. To which parties may file and service a joint-application, simple application, or an application. It is recognized in law once an Honourable Justice issues an Order endorsing an end to the relationship. The Order will usually take effect 30 days after issuance.
I have a unique property how do I address this?
We totally get it. Real Estate can be a messy asset to deal with. So having the terms of the Will drafted in a particular way is key. Our lawyers will uniquely draft the terms that cover your property and will further define your estate plan and comprehensively address the property.
I follow a certain religion how can I incorporate the terms in my Will?
Our lawyers are more than happy to address the terms of your personal following or religion. Talk to one of our lawyers for further details.
