It Is Important to Have a Will and Powers of Attorney

This is true for a multitude of reasons. Of paramount importance in Estate Planning is that Guardianship for your minor children in the event of your death is provided for. Also, there are estate fees that may have to be paid upon your death. There are ways to minimize or eliminate these fees. Effective estate planning now can save money in the future, and ensure that your estate is distributed according to your wishes. Real estate title transfers are a common way to minimize probate fees.

Having Powers of Attorney is equally important. The Substitute Decisions Act has made major changes regarding Powers of Attorney. If you have not made a General Power of Attorney for Property and a Continuing Power of Attorney for Personal Care, in the event that you become incapacitated, either temporarily or permanently, there can be very significant complications. A situation may develop where the Public Guardian and Trustee is making the decisions for you. Without a Power of Attorney, strangers are making decisions about your money and your personal care. Powers of Attorneys are straightforward, and relatively inexpensive, particularly given the peace of mind that they afford.

Estate Administration is the function of implementing and administrating a will or estate after the death of the Testator. Sometimes, people die without a Will (Intestate). The Succession Law Reform Act provides for the distribution of the deceased’s Estate in these circumstances. We can assist in all aspects of Estate Planning and Administration.