Last Will & Final Testament
Regardless of your age it is imperative that you plan for the future. Creating a Last Will and Final Testament is essential in your estate plan to ensure that your property is divided in the way that you want when you are gone.
We will help to determine your assets and how you would like them to be distributed. A properly drafted Will provides you with the ability to control the conditions of your inheritances, decide how you would like your estate to be distributed all while reducing the hardship on your loved ones. A Will allows you to choose the person to carry out the administration of your estate and to minimize fees and taxes.
Preparing Your Will
Your estate is made up of everything you own including: vehicles, Real Estate, investments, chattels (furniture, jewelry etc.), life insurance, bank accounts and other personal possessions. The Will allows you to plan in advance how you would like your possessions to be distributed, but can also involve naming guardians for your minor children, or the transfer of your business. Your Will acts as a legal instrument to distribute your estate and give direction based on your wishes on how your estate plan will be administered. Dabros Law will provide advice tailored to you so that we can create an optimal succession plan and to protect your legacy.
Power of Attorney:
Personal Care & Property
A Power of Attorney is a written document that allows the grantor to appoint someone to act on their behalf concerning their financial matters or personal care matters. There are two types of Power of Attorneys; Property and Personal Care. Power of Attorney for Property allows your attorney to deal will all your financial matters regarding your assets and your estate plan in general. Power of Attorney for Personal Care allows your Attorney to deal with all your health related issues including treatment decisions, medications, and long-term care plans.
It is imperative to have Power of Attorneys in place before any unforeseen circumstances arise where you become incapable of making health and financial decisions for yourself.
Simple Estate Service (Probate)
If you have been named as an executor in a Will, it is your job to ensure that the wishes made by your loved one are executed. You are the gatekeeper of the Estate and it is your duty to administer the estate based on the wishes in the Will. Dabros Law is here to help ease you through a complicated and often emotional process. The services offered include:
– Reviewing the Will
– Explaining the Estate Administration process
– Preparing the documents required to complete an Application
– Calculating the Estate Administration Tax (Probate Fees)
– Meeting with you to sign all relevant documentation
– Filing the necessary documents with the Estate Registrar of the Ontario Superior Court of Justice
If someone you love has passed away intestate (meaning they did not have a Will) we can help with obtaining a Certificate of Appointment from the court to allow you to begin administering the Estate.
Should you require assistance administering an Estate of a loved one as an executor, please contact us today.
Do I need to have a Will?
Yes, everyone should have a Will drafted. This is your opportunity to decide where your belongings and your Estate should go in the event that you pass away. You also have the ability to name guardians for your minor children and create Trusts for them. Having a Will is the only way that you can ensure that your wishes are legally carried out after your death.
I saw a Will kit at my local book store. Can I draft my own Willl?
The simple answer is yes but many of us lack the required skills and expertise to do so. You may draft your own Will and it can be valid as long as the requisite formailities are completed. However, should you have a poorly written Will it could affect your legacy that is left for your loved ones. In the end, it may cost your loved ones more money fixing an invalid Will than the money saved by drafting your own with a Will kit.
What would happen if I died without a Will?
This is far from an ideal situation. The Succession Law Reform Act determines who will inherit your Estate if you die instestate (meaning dying without a Will). Perhaps you wanted your Estate to go to your best friend. If you die without a Will the likelihood of them receiving the inheritance is improbable without a Will. It is imperative that you have a Will drafted before unforseen circumstances arise that may prevent you from creating one.
Do you offer “Wills on Wheels” services?
Yes! We are able to travel to you to have your Will and Power of Attorney documents executed in the comfort of your home. We also offer hospital visits for those individuals with complicated health situations which make it inherently difficult to meet with a lawyer at their office.