I often hear clients complain that wills are expensive. Others say they don’t need a will because they only have few properties. Still, others don’t have time to make their wills.
Guess what? No matter how modest your wealth is, it is always a good idea to have a will. This is most especially true if you have a family who you would like to provide for when you are gone. Nobody knows when we die, or get fatally sick, or meet an accident.
By having a will, you control who will receive your estate, what and how much they will receive, when will they have it and how they will receive it. Bank accounts for instance. When the owner passes away, banks will usually refuse to transact with someone other than the estate trustee. Same with the Ministry of Transportation if the owner previously owned a car.
Dying without a will results in a time consuming and an expensive legal process of intestate succession. Your children and spouse will definitely need lawyers and your estate will be under the scrutiny of the courts. Someone will need to petition the court to appoint an estate trustee. This is not to mention your estate will be required to pay estate administration taxes. Making a will is part and parcel of good estate planning.
Other related services we offer include:
- Wills: drafting and execution
- Affidavit of Execution
- Power of Attorney for Property
- Power of Attorney for Health