Embark on the journey of securing your legacy with confidence as you are guided by our experienced Toronto lawyers at Bradshaw & Mancherjee. The peace of mind that comes from knowing your future is secure cannot be overstated. Our estate planning services not only simplify your life in the present but also alleviate the future burden on your family.
Your will is the foundation of your succession planning. This legal document ensures that your assets are inherited by your chosen beneficiaries and family upon your passing. From your initial legal will preparation to final execution, we are here to guide you through every step of the process, providing expert advice and support along the way. With our empathetic approach and unwavering commitment to your needs, you can trust us to protect the future you have envisioned.
A will empowers you to precisely outline the distribution of your assets, encompassing property, investments, and personal possessions, among your loved ones. A will guarantees the fulfillment of your desires while minimizing the likelihood of conflicts arising among family members.
A will provides the opportunity to designate a guardian who will assume responsibility for the care of minor children should you pass away. This crucial provision ensures that your children are being cared for by someone you trust. It mitigates uncertainties and potential disputes regarding your children’s welfare and living arrangements.
If you have beneficiaries with special needs, disabilities, or financial immaturity, a will can establish trusts to protect their interests. These trusts ensure that their inheritance is managed responsibly.
A will can incorporate direction regarding your funeral and burial arrangements. Losing a loved one can be a grievous and stressful time for family members. By articulating your preferences beforehand in your will, you alleviate your loved ones from the emotional strain of making such decisions during a difficult time.
A will provides you with the opportunity to appoint an executor, who is entrusted with carrying out the directions outlined in your will. This individual assumes the responsibilities of asset distribution, debt settlement, and the resolution of any legal affairs pertaining to your estate.
Drafting a will is a proactive strategy that you pursue to ensure that your intentions remain legally binding after your passing. It alleviates concerns about the future well-being of your loved ones and protects your assets. Knowing that you have taken concrete steps to plan for the future instills a sense of empowerment and diminishes ambiguity amidst life’s uncertainties.
Our team of skilled professionals specializes in drafting and implementing power of attorney documents tailored to your unique circumstances. A power of attorney is a powerful legal tool that allows you to appoint someone you trust to manage your affairs should you become unable to do so yourself. Whether due to illness, injury, or absence, having a designated individual to make financial or medical decisions on your behalf ensures that your interests are being safeguarded.
We understand the importance of careful planning and clear communication when it comes to power of attorney arrangements. Our experienced attorneys will work closely with you to understand your preferences and concerns, guiding you through the process with empathy and expertise.
1. Power of Attorney for Property
This type of Power of Attorney focuses on handling an individual's financial and property affairs. When creating this legal document, you grant a trusted individual the authority to manage and make decisions regarding your finances, real estate, and other assets. Responsibilities may range from bill payments to investment management. The purpose of appointing a Power of Attorney for Property is to ensure that there is a trusted person in charge to act on your behalf should you face situations of incapacitation or inability to manage these affairs.
2.Power of Attorney for Health and Healthcare
This type of Power of Attorney focuses on your health and medical choices. When creating this legal document, you grant a trusted individual the responsibility of making vital healthcare decisions for yourself in case you are unable to do so due to incapacitation. This could involve determining medical treatments, surgeries, or end-of-life care. This is a role involved in personal and sensitive matters and ensures the protection of trust that you have in your attorney.
Ensure your wills and estates are properly managed by our experienced team. Let us guide you in planning for the future today, for a more secure tomorrow!
Contact UsProbate proceedings can be daunting, but we are here to provide compassionate assistance every step of the way. Probate is the official legal procedure by which the court validates the authority of an executor to represent the deceased.
1
Court approval is needed to validate the will or the chosen executor because of a dispute about who it should be.
2
Proof of the executor's authority is often required by third parties, such as banks, making court validation necessary through the probate process.
3
Situations involving land transfer within the estate, as land registry offices typically mandate probate to facilitate the transfer of ownership from the deceased to another party.
This article is provided for informational purposes only and cannot be relied upon. Contact us today to schedule a consultation with our expert legal team.
Probate fees are taxes imposed by the government on the estate of a deceased person before the estate is distributed to the beneficiaries. Today, probate fees are called Estate Administration Tax. This tax is typically based on the value of the deceased person’s estate at the time of death. In Ontario, Estate Administration Tax tends to be 5% of the value of the estate. For the first $50 000 value of the property, there is no tax charged.
The probate process varies in length depending on the nature of the application and whether there are any complexities involved in the application. This may also be dependent on the jurisdiction handling the probate applications.
A Power of Attorney is your key to ensuring that your wishes are honoured even if you are in a position where you are unable to make decisions for yourself. People who don’t have POAs and end up requiring them upon incapacity.
Without a POA, navigating incapacity can lead to costly and time-consuming court appointments. There are no guarantees, and you are deprived of ability to choose the person being named as the decision-maker.
Whereas with a thoughtfully drafted POA, you secure a trusted individual to act on your
behalf in a relatively inexpensive and swift manner.
Probate is the court process of validating a deceased person’s will, if one exists, and distributing their assets according to the terms of the Will. The modern term for this process is Certificate of Appointment. For a person with a Will, this process ensures that the deceased person’s assets are transferred in an orderly manner according to their wishes. Without a Will, assets will be distributed according to government law. Institutions, such as the bank, may also require a Certificate of Appointment to access financial assets of the deceased person.
A Will should be completed to ensure that your assets are distributed in accordance with your wishes and intentions. A Will can also provide for alternate beneficiaries such as children, if both and your spouse have both passed away.
