WILLS & ESTATES
Having a valid will is important in that it ensures that your property is distributed in accordance with your wishes. You get to decide who takes care of your children if they have not reached the age of maturity, you decide who your executors will be and you can ensure that your estate will be settled more easily, quickly and cheaply than if you without a will.
Having a lawyer prepare your WILL helps to ensure that your WILL is valid. Having a will also reduces the emotional and financial costs associated with dividing up your assets at death.
Every person with assets should have a will.
I you die without a will in Ontario your assets vest in the Ontario Government. If you die leaving family members behind your assets will be divided in accordance with the laws of Ontario regardless of what your wishes would have been. An administrator will be appointed who will deal with the assets and debts of the deceased.
Ontario law is very specific about how the remaining assets of the deceased person's estate are distributed: first to the spouse, if there is a spouse, then to the children, then to the parents, brothers, sisters, nephews, nieces. Where there exist no such relative then to the next of kin, failing which the property becomes the property of the Crown.
To prevent any disputes or confusion about how your property is divided and distributed after death, it is advisable that you have a will, particularly if you own assets and if you have children whom you need to provide for in the event of your death. Every person with assets should have a will.
If you require assistance preparing your Will, please free to contact us and we will be happy to assist you.
3) Powers of Attorney for Personal Care
A Power of Attorney for Personal Care may be given by an individual (the "Grantor") in his / or her lifetime to allow another individual (the "Attorney") the authority to make decisions concerning personal care in the event of illness or incapacity on the grantor's behalf. Said decisions, in Ontario are subject to the Subsitute Decisions Act. The Grantor may also give authority to the Attorney to five or refuse consent to treatment in accordance with Healthcare Consent Act.
4) Powers of Attorney for Property
A Power of Attorney for Property may be given by an individual (the "Grantor") in his / or her lifetime to allow another individual (the "Attorney") the authority to make decisions concerning the property of the Donor. Said authority, in Ontario is subject to the provisions of Powers of Attorney Act.
