A will is a document wherein, you, the testator, indicates to whom your assets shall be gifted at the time of your death.
When contemplating preparing your will, you must consider who will be your beneficiary, or beneficiaries. When doing so, you may wish to consider whether special arrangements must be made for beneficiaries with disabilities, spendthrift beneficiaries, beneficiaries with addiction problems, or beneficiaries who are experiencing marital difficulties. I would be pleased to discuss the solutions which best meets your specific circumstances.
You must also consider who will administer your estate on your behalf at the time of your death. You must determine who will be the executor and trustee. The executor and trustee’s duties include but are not limited to:
- locating your last will;
- confirming its validity with the court through the probate process;
- filing your final income tax returns;
- paying your debts and liabilities;
- distributing your assets as per the provisions of your will.
A properly drafted will also makes provisions for:
- The appointment of guardians of your minor children. You must determine who will have care and custody of your minor children;
- The protection of your estate from claims by ex-spouses;
- The elimination, or reduction of the risk of a testamentary challenge, and bitter family disputes;
- Ensuring the seamless transfer of your business interests.
Without a will, all of a testator’s assets vest into the power and control of the Office of the Public Guardian and Trustee (“PGT”) (the Provincial Government). The PGT then determines who shall inherit the intestate testator’s assets, in accordance with the provisions of the Succession Law Reform Act.
Please contact us at 613.841.9099 ext. 1 so that we may send you our will and power of attorney questionnaire, which will also set out our fees. Upon receipt of the completed will and power of attorney questionnaire, we will contact you to schedule a meeting.