Wills

The benefits of having an up-to-date Will in place are well known, however, we would like to remind you of a few:

1. An up-to-date Will instructs your executor (estate trustee) on how to distribute your estate in accordance with your wishes.
   
2. Drafting a Will provides you with the opportunity to review your funeral wishes, your life insurance policy, your wishes regarding charitable donations and plan ahead for your loved ones and dependants.
   
3. A Will permits you to choose the executor (and back-up executor) you trust to follow your wishes.
   
4. A Will can reduce the taxes payable by your estate.
   
5. When you die without a Will, you create more work for your loved ones and you require them to pay the necessary legal costs to go to court to appoint an executor and administer your estate. In other words, when you die with an up-to-date Will in place, there are substantial savings in legal costs and the administration of your estate is far less complicated for your loved ones.
   
   

Power of Attourney

Power of Attorney for Property

A Power of Attorney for property appoints an individual(s) (usually with a back up legal attorney) who will make decisions for you regarding your property. A Power of Attorney for property can be very useful but must be drafted carefully. Otherwise, there is a risk that it could be used contrary to your wishes or your financial well-being. A well drafted Power of Attorney for property safeguards against misuse or abuse by your legal attorney and we would be pleased to provide this service to you.

Power of Attorney for Personal Care

A Power of Attorney for personal care or health care appoints an individual(s) (usually with a back up legal attorney) who will make decisions for you regarding your care and personal well-being when you are unable to make decisions on your own. This Power of Attorney often sets out your wishes and intentions regarding life support systems. A well-drafted Power of Attorney for personal care reflects your wishes and safeguards against misuse or abuse by your legal attorney. We would be pleased to provide this service to you.

The Importance of Choosing the Right Legal Attorney

Your legal Attorney(s) will make decisions for you regarding your property and your health care. Choosing a legal Attorney(s) is one of the most important and critical decisions you make during your lifetime and should not be taken lightly. We strongly recommend that you choose an individual(s) who is very well-known to you and who is trustworthy. Your legal attorney(s) must be capable of making decisions on your behalf which you would normally make on your own. Your legal attorney(s) must be very aware of your personal circumstances so that his or her decisions truly reflect your needs and wishes.

The Importance of Including Conditions in your Powers of Attorney

We strongly recommend that your Powers of Attorney clearly state when your legal Attorney(s) may begin making decisions on your behalf. In addition, you may require your legal Attorney to make decisions for you in consultation with certain individuals you designate such as your financial planner, your lawyer, your physician, your accountant, your spiritual advisor or a family member.

Four Easy Guidelines to Remember

Your Will and Powers of Attorney should be up to date. Review your documents periodically to make sure they continue to reflect your wishes. As your personal circumstances change, your wishes as set out in your Will and Powers of Attorney may very well require amendments.

Your executor(s) and your legal attorney(s) must know how to locate your legal documents when the need arises.

Your Will and Powers of Attorney must be guarded and stored safely. Our fireproof vaults are available to our clients at no extra charge.

You must be careful to make sure your financial and legal documents do not conflict with one another. Documents such as Deeds for real estate, Wills, Life Insurance Policies, Registered Retirement Savings Plans, personal bank accounts, separation agreements and marriage contracts should be reviewed and amended if necessary to avoid a conflict with your wishes.

In addition, we strongly recommend that your Will and Powers of Attorney clearly indicate when and to whom your original Will and Powers of Attorney are released.

Legal Fees and Disbursements

The onus is on your lawyer to explain the cost of his or her legal services. A client should not have to ask. One of the most important elements of a good solicitor-client relationship is an up-front understanding of legal costs. More importantly, a client who has a firm understanding of legal costs is a client who is better prepared to decide on a course of action and instruct his or her lawyer on how to proceed. The truth of the matter is that when a client is facing his or her legal options, legal costs are an integral part of his or her decision.

At our offices, the cost of a basic straightforward Will is $250 and with a Power of Attorney for Property and a Power of Attorney for Personal Care the total cost is $350. For a couple, the cost of two straightforward Wills is $350 and with two Powers of Attorney for Property and two Powers of Attorney for Personal Care, the total cost is $500.

We Want to Assist You.

We are always available to take your call and assist you with your Will and Powers of Attorney. Our commitment is to ensure that these important legal documents reflect your wishes and are safeguarded against misuse and misinterpretation. In addition, we will make ourselves available, if called upon, to provide assistance to your executor (estate trustee) and legal Attorney(s).

Do not hesitate to contact us. We can help.