A Will is an important legal document which outlines your wishes when it comes to the care of your minor children and distribution of your property. According to statistics released by Lawyers’ Professional Indemnity Co. (LawPRO); alarmingly, 56% of Canadian do not have a signed Will.
What are the consequences of NOT having a Will?
- Minor child will not have an appointed guardian; meaning the court would select a guardian.
- No trustee to act as administer of the estate; an executor would need to be appointed (increased expenses, time, and possible frustration)
- If you do not have a next-of-kin, the entire estate is given to the Ontario government.
- Your assets and property will be distributed in accordance with the intestacy rules, which may not be the way you wish to distribute your estate.
- Sections 44-47 of the Succession Law Reform Act (SLRA)
We understand that making a Will can seem daunting and overwhelming. The legal professionals at Joston Law have the experience to ensure that the process is easy and straightforward. Wills are normally drafted at the same time at the Power of attorney. We recommend you draft a Power of attorney when drafting your Will. We can assist you in drafting a Will which reflects your wishes considering circumstances which may arise. The drafting of a Will ensure you have a peace of mind that your estate is settled according to your wishes; let us help you ease the burden from your loved when it comes to make difficult emotional and financial decisions.