WILL & ESTATE
WILLS & ESTATE PLANNING
Get peace of mind knowing that your loved ones are cared for when you cannot. Leave a legacy by leaving your affairs in order instead of mayhem. Although nobody likes thinking about their mortality, the realty is that none of us have nine lives. We only have one, so make sure you leave your family with clear instructions to avoid contention, delays and needless expense. Furthermore, if you have minor children, you want to ensure they are left with the right family members or close friends, to ensure they are properly cared for in your absence.
So What Happens if you die Without a Will?
Dying without a Will is called dying intestate and has long reaching consequences on your surviving family and/or love ones.
If you have no Will, the law decides how your estate is distributed among your loved ones. If you have no children, your spouse inherits the entire estate. Your spouse may inherit everything or the first $200,000 of your assets if you have children and what is left will be divided equally amongst your family. If you have neither a spouse nor children, your estate is distributed to other relatives. Can you imagine your assets going to a distant relative that you have not spoken to in 10+ years?
Your closest relative will be appointed your personal representative. That person will have to step forward to administer your estate. If they do not step forward, perhaps a Trustee Company may take on the role.
If you have a Common-law spouse, they have no automatic entitlement to your estate or even a portion of it. A Common-law spouse would therefore have to go to court to try to get anything.
Your personal belongings will be sold off and not distributed as per your wishes. That gold ring that was passed down from your mother and her predecessors, will be pawned off and sold to the highest bidder.
Potential tax savings will be lost forever. The government taxes you throughout your life and your hard earned investments and assets will be taxed heavily. The government gets you coming and going.
If you have a dependent child or other relatives they will not be properly provided for. Unless the appropriate provisions are made in your Will, a dependent child with a disability and requiring long-term care will not be financially supported as you had hoped.
Wills and Estate Planning goes hand in hand with the ownership of property and we provide additional discounts to our existing clients who purchase or sell with Hope-Selkin Law and begin the estate planning process within 3 months of a real estate closing. We urge our clients to be proactive and protect their loved ones so that they are properly looked after.
If you have children and there is no surviving parent, you will forgo the opportunity to specify who you want to act as his/her/their guardians.
You have absolutely no say in your funeral and burial arrangements. If your court appointed executor does not recall or know your wishes, your arrangements will be made in accordance with their preferences.
Charities or non-profit organizations that are close to your heart will never receive your support to carry on the philanthropic work you so admire.
Last, but certainly not least, if you have no living relatives, the Ontario government gets your entire estate.
These are just a few of the reasons why everyone needs a Will. The fact of the matter is, without a Will, you are unable to appoint your beneficiaries and you are stuck depending on the law and government to decide the fate of your loved ones. Getting a Will completed avoids a lot of the above noted problems and saves you and your loved ones tremendous expense, delay and heartache.
We provide an initial consultation to ascertain your particular needs, review your Wills Questionnaire and begin drafting your Last Will & Testament, Power of Attorney for Property, Power of Attorney for Personal Care and Health Directive. Call Hope-Selkin Law, P.C. today for your Wills & Estates Package. Get your Wills Questionnaire today to get the ball rolling.
All Wills Packages Include:
Last Will & Testament
Power of Attorney for Property
Power of Attorney for Personal Care
Health Care Directive
***Legal Drafting of Will by Ontario Lawyer***
Basic Wills Package - Retainer for entire amount required before documents are drafted
Basic Packages include 20 minute Telephone Consultation with email correspondence thereafter, Review of Wills Questionnaire, and Standard Wills and Estates documents provided electronically via email. Detailed instructions will be provided regarding execution of documents to ensure the same are valid and legally binding.
Basic Single (Online) Wills Package $ 249.00
Basic Spousal (Online) Wills Package $ 499.00
(Does not include HST)
Premium Lifetime Packages - Retainer for entire amount required before documents are drafted
Premium Lifetime Packages include 1 hour In-office Consultation, In-Office Execution of Documents and Unlimited lifetime revisions to existing Will in the event that your circumstances change. Finalized and executed originals of Wills will be stored in our vault. Notarized copy of Wills to be provided to client(s).
Premium Single Wills $ 799.00
Premium Spousal Wills Package $ 1499.00
*Henson Trusts required for dependents with disabilities ADD $200 to above fees
(Does not include HST)