It is important to decide what you want to happen to your property after death.
Without a will, the court will appoint someone to be your executor (estate trustee) and your beneficiaries are determined by Ontario law, not you!
You can do a will by yourself, called a holograph will. This is a will written ENTIRELY in your handwriting, signed and dated by you. There are many unknown problems and unintended consequences which can arise with a hand drafted will which might only surface after you die and which cannot now be corrected promptly or not at all. Costly court litigation is sometimes the result.
A will is such an important document that it’s wise to consult a lawyer. If you need a lawyer search the internet, ask friends or family for a recommendation or contact the Lawyer Referral Service operated by the Law Society in your province.
A will tells your executor and your beneficiaries what you want to be done with your assets after you die.
A will should also consider tax problems on your death. There are many other details to be considered depending on personal circumstances.
It is important that people have a will prepared by a knowledgeable solicitor. Many problems can surface after death from a badly prepared will just as with a holograph will.
Most authors currently advocate viagra on line australia immobilization of the DIP joint alone Splinting There are many variations in the design of the shopping bag. Indications The pills of buy generic levitra are basically used by an impotence victim not by anyone else, not even a lady. It has buy cialis online icks.org been clinically tested and approved by various authentic organizations. Nutritional supplements can be taken to replenish your body of much-needed online cialis sale icks.org vitamins. What do I own and who do I want to get it are the beginnings of will preparation.
Some wills and powers of attorney can be dealt with using simple terms. Sometimes the assistance of accountants, financial planners, insurance brokers and lawyers can be of assistance. It is not uncommon for each of these individuals to have network of other professionals to help if needed. Teamwork is beneficial!
What is an executor? An executor follows the instructions in your will. They have other legal duties such as paying income tax, cashing the assets and paying your beneficiaries. Sometimes property is held in trust for a beneficiary and it must be managed by a trustee.
Who should I choose as my executor? Honesty and reliability are essential. The ability to cooperate with others and to manage your estate in an efficient manner are also valuable assets. Give thought to the right person!
When you meet with your lawyer you will be asked many questions some of which you have not considered. Make sure that you understand the lawyer’s questions as they will affect the wording of your will.
When you sign your will be sure to read and understand it since there may be strange terms used. If there is any portion of your will you do not understand have it explained to your satisfaction so that you can be sure it represents your wishes.
This article is not intended to be relied upon as legal advice but only to give the reader an overview of the law in Ontario. You need to consult your legal representative to determine the best procedure in your particular circumstances.
