Wills – Help you avoid property loss, JZW Law provides you with professional legal advice
What is a will?
In life, no one can be sure which will come first, tomorrow or an accident. Therefore, it is very important for you and your family to prepare a will in advance to avoid the loss of your property and appoint an executor to complete your unfulfilled wishes.
In Ontario, a will is a legally protected document that distributes your assets to a designated executor after your death according to your arrangements during your lifetime, while ensuring that your wishes and choices are respected if you are unable to take care of yourself or lose consciousness.
What is will planning?
Appoint an executor: You can appoint someone you trust as an executor to carry out your wishes, distribute your assets, and settle outstanding debts.
Financial Power of Attorney: Authorizes someone you trust to manage your financial affairs if you become incapable.
Power of Attorney for Personal Care: This document authorizes someone to make medical decisions for you if you are unable to make them for yourself.
Trust: A trust can be used in a variety of situations, such as managing assets for beneficiaries, reducing taxes, or ensuring the payment of an estate.
What are the benefits of will planning?
Estate planning is a complex process, especially for those with complex financial situations or remarried families. Consulting a professional will and estate attorney can provide the following benefits:
- Expertise: An experienced estate attorney can draft an accurate and legal will.
- Tax reduction: An estate attorney can use legal policies to help you reduce the burden of estate taxes.
- Future protection: Life will continue to change, and a professional attorney will keep your estate plan up to date and make changes to your will at any time according to your needs.
How is a will executed?
In Ontario, the Succession Law Reform Act (SLRA) states that upon the death of the person who made a will, the executor named in the will will be responsible for carrying out their wishes. The executor needs to complete a probate, which is a certificate that proves that the person is the designated executor of the will. The executor will assess the assets and pay off the debts, and distribute the remaining assets to the beneficiaries in the manner specified in the will.
Why do you need a lawyer for will planning?
A professional will lawyer will provide you with advice that is tailored to your family and future. We will use our professional knowledge to avoid the loss of your estate and the confusion of your family to ensure that your wishes are respected and met.
The legal and tax environment in Toronto is particularly complex, so having a will planning lawyer is an essential part of protecting you and your beneficiaries. They understand local regulations and provide tailored will solutions to protect your family’s future.
Writing your own will may seem to save money, but it may cause unnecessary losses to your estate and burden your family’s future life because you do not understand local laws and unprofessional perspectives. Consult an experienced Toronto will planning lawyer to ensure that your will is legal and valid, meets your specific needs, and represents all your wishes.
JZW Law provides the following professional services:
Professional will and power of attorney legal services: In addition to tailoring your will and power of attorney, we also help our clients submit the materials required for the court probate application, obtain the executor certificate, and legally transfer the assets after the probate.
Will preparation: Understand your specific situation, provide you with professional advice, arrange your property reasonably, and save unnecessary probate fees.
Power of attorney (for health decisions): The purpose of this document is to designate one or more representatives to help you decide on medical plans when you are unable to make effective decisions about your health or treatment.
Power of attorney (for property arrangements): The purpose of this document is to designate one or more representatives to help you manage your property when you are unable to manage your own property.
Your living will: This document is similar to your doctor’s order, whether you are willing to continue the treatment process for severe pain if you are in severe physical pain and cannot be cured.
Witness oath
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