The Will should be personalized to deal with your specific situation. You should closely review your current Will to determine if it:
- is valid now and for the foreseeable future?
- affects property in multiple jurisdictions?
- takes probate (court administration) fees into account?
- appoints legally qualified estate trustee(s) and alternate estate trustee(s)?
- designates beneficiaries of your RRSP, RESPs and insurance policies?
- provides for your spouse in accordance with the law?
- provides for your “children” as defined in current statutes?
- provides for children from previous relationships?
- provides for disabled children and beneficiaries in receipt of government subsidies?
- protects your beneficiaries from disqualification under government disability support programmes?
- provides for charitable bequests?
- deals with accumulated customer reward points and other non-traditional assets?
- provides for heirlooms and other gifts to specific beneficiaries?
- deals with your business interests?
- deals with bequests that will be gifted later during your lifetime?
- deals with situations where bequests cannot be made to intended beneficiaries?
- protects beneficiaries from losing their inheritance upon divorce?
- appoints a guardian for minor children?
- clearly sets out your wishes regarding organ donation?
- clearly sets out your wishes regarding your funeral and burial?
- empowers your estate trustee to properly manage your estate?
- creates legally valid trusts?
- is legally enforceable overall?
There are many things which must be considered when making a Will. We would be happy to work with you to develop a Will that ensures that your wishes will be honoured after your death by giving them proper legal expression in conformity with the law.
A Will is a declaration of a person’s intentions which provides instructions about the care of loved ones, the realization of assets and distribution of assets after death.
We can provide the expertise to ensure that your Will is drafted in accordance with the laws of Ontario and your specific wishes.
A Will is not necessarily a simple document; your Will is as individual as you are. Your Will should be reviewed about every five years or whenever a major life event occurs, such as a birth, death, marriage, divorce, etc., to determine whether changes are required.
Some circumstances may automatically revoke an existing Will. You should update your Will whenever one or more of your named estate trustees (executors) has passed away or is no longer physically or mentally capable of administering your estate.