Wills and Powers of Attorney
We know just how important creating testamentary documentation can be. The Will is a document that sets out the instructions as to what will happen to your assets and property after you pass away. It is a set of instructions for your executor to follow on your death. What you want to happen to those assets when you pass on without a Will may be very different from what you intended. The Will therefore is a very important document to have in place.
Powers of Attorney are used to appoint someone to act on your behalf while you are still alive but are incapable of managing your own affairs. There are two types of Powers of Attorney:
(1) Power of Attorney for Personal Care – this will allow the person you appoint to deal with doctors, nurses and anyone in relation requiring direction for your health care. This includes making decisions for your health and dealing with long term care facilities on your behalf.
(2) Continuing Power of Attorney for Property – this will allow the person you appoint to deal with all of your financial matters. This would be provided to your banking institutions and allows the person appointed to pay your bills, invest your money when you are not capable.
Will Planning Procedure
- The first appointment is referred to as our consultation appointment. At this meeting you will meet and discuss the different options that can be expressed through your documentation. We will discuss different clauses that may suit your needs and ensure that your wishes are properly reflected in your documentation.
- After the first appointment we will draft your documentation pursuant to your instructions and send you a draft of the documentation for your review and approval.
- When you approve the drafted documentation we will set up a final appointment for you to come in and sign the paperwork.
We can assist you with the application for probate and dealings with the beneficiaries of the estate and the myriad tasks that surround your taking on the role of an executor (now called the Estate Trustee).
We can assist and lead you through the process of compliance with the obligations under the Estate Administration Tax Act, making sure you, as Estate Trustee, have completed your tasks, done all your filings, delivered your notices, obtained your releases and completed your duties in relation to your role as Estate Trustee.
We have many years’ experience in this area of law.
Our firm knows and understands the importance when you are dealing with probably one of the most significant assets you own.
We have experience in residential, condominium and commercial properties. We will review agreements prior to execution and provide advice in relation thereto prior to firming up the transaction.
We also have extensive experience with mortgages, refinancing and leases of commercial and residential properties.