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Peace of Mind for your loved ones
Frequently Asked Questions
WHAT IS A WILL?
A Will is a legal document stating how your investments, money and property will be distributed after you die. A Will also allows you to state a preference for the guardian of your minor children.
ARE THERE PROPERTY OR PROCEEDS NOT COVERED THROUGH A WILL?
Most, though not all, of your property can be disposed of in a Will. For example, the proceeds of a life insurance policy naming a beneficiary, or property owned jointly, cannot be disposed of through a Will.
WHY SHOULD I HAVE A WILL?
There are five basic reasons why you need a will: Provide For Loved Ones
You know your family and their needs better than anyone else. Although a court can decide otherwise, a Will allows you to designate custody or guardianship of your children. If your children are young, you can establish how and when they receive their inheritance, and delay the distribution to them until a certain age or life circumstance. State Your Wishes
Your property should be managed in death just as it is in life. With a Will, your wishes can be honoured and respected the way you want them to be. If you don’t make your wishes known through a valid Will, the Government will make the decision for you. In Ontario, the Succession Law Reform Act governs the distribution of property for those who die without a will. You can also express your wishes for your burial or cremation. Avoid Excessive Taxation
You've worked hard for everything you've earned or accumulated in your lifetime. Good estate planning, including having a Will, can reduce probate fees, a form of tax, and other tax consequences upon death. Avoid Family Turmoil
How often have you heard a story of a family that found itself in a bitter dispute over the belongings or property of a family member after they died? You can avoid leaving a sad legacy of family disagreements, hurts or disappointments by clearly stating your intentions and wishes in a Will. Have Peace of Mind
Having a Will gives you peace of mind. You can be sure that, when you’re gone, your property will be dealt with in accordance with your wishes and your loved ones will be provided for without a tax burden. WHAT IS A POWER OF ATTORNEY FOR PERSONAL CARE?
This is an important document that addresses a situation of mental incapacity that sometimes precedes death. It is not uncommon. Following a stroke, heart attack, prolonged illness or accident, a person can become incapacitated and, although still alive, unable to express his or her wishes about care or treatment. A Power of Attorney for Personal Care allows you to give the power to another individual - a family member, spouse, or close personal friend - to make personal and medical decisions if you become mentally incapacitated. A Power of Attorney for Personal Care can allow the grantor to direct whether life support systems be used or not in a case where there is little or no reasonable prospect of recovery. WHAT IS A CONTINUING POWER OF ATTORNEY FOR PROPERTY?
A Continuing Power of Attorney for Property allows you to give someone else - again, a family member, spouse or personal friend (in legal terms called the “attorney”) - the power to deal with your property on your behalf. It “continues” in force even when you are no longer mentally capable of dealing with your own affairs. Under a Continuing Power of Attorney for Property, the “attorney” may make any decision regarding your property that you could make yourself if you weren’t incapacitated, except make out a new Will. WHAT ARE SOME THINGS I SHOULD BE THINKING ABOUT SO THAT I CAN PREPARE MY WILL?
In preparing to draft your Will there’s a lot to reflect on, and Patrick O’Rourke – the Ottawa Wills Lawyer - can help you. One of the most important things you should think about is identifying the person who will be your administrator. This person is generally referred to as the “executor” and should be someone you trust to carry out your wishes. You should also think of a second person to act as the executor in case the first person you have chosen dies before you or becomes unable to assume the role. You should obtain the person's permission and discuss your affairs with them before naming them "executor" and allow them time to consider the request. You should also make an inventory of the property you own, just as you would for insurance purposes. You should also think about who you would like to raise your children after you are gone. These are a few of the many issues you should be considering in preparing to draft your Will. WHY NOT JUST DOWNLOAD A WILLS KIT FROM THE INTERNET?
A Will requires a legal professional, just as car repairs require mechanics and home renovations require plumbers and electricians. Trying to make a Will yourself, even with the aid of computer software packages and the Internet, can be a risky proposition. Omissions, inaccuracies, ambiguities or contradictions in a Will kit could result in time-consuming and expensive litigation, which may deplete your assets, frustrate your intentions and hurt or damage family relationships. A mistake drafting your Will usually only becomes apparent after you’ve passed on. Lawyers are insured and must meet professional standards and codes of conduct. With a Wills kit, there is no accountability. For a relatively small price differential, it just makes sense to call an experienced lawyer like Patrick O’Rourke – the Ottawa Wills Lawyer. SHOULD I OR CAN I CHANGE MY WILL? Yes, you should review your Will every year to ensure it still reflects your circumstances and intentions. More importantly, you should review your Will whenever there is a significant life event such as marriage, divorce, separation, birth or death. |
Have your will done today. In-home Service! The following prices include a Will, Continuing Power of Attorney for Property and Power of Attorney for Personal Care. These prices apply to residents of the City of Ottawa* and are based on a standard situation of average complexity and may not necessarily apply to every individual circumstance. For more info click here Single: $625.00 ** Couple: $1,200.00 ** *NON-RESIDENTS MAY BE SUBJECT TO ADDITIONAL CHARGES ** PLUS APPLICABLE TAXES CONTACT INFO |
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Have your will done today. In-home Service! The following prices include a Will, Continuing Power of Attorney for Property and Power of Attorney for Personal Care. These prices apply to residents of the City of Ottawa* and are based on a standard situation of average complexity and may not necessarily apply to every individual circumstance. For more info click here Single: $625.00 ** Couple: $1,200.00 ** *NON-RESIDENTS MAY BE SUBJECT TO ADDITIONAL CHARGES ** PLUS APPLICABLE TAXES CONTACT INFO |
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