Wills & Powers of Attorney

If you own assets or have children or dependents, having a Will is essential. A Will allows you to clearly outline who will inherit your assets and ensures there’s a plan in place for who will care for your children or dependents if something happens to you.

Without a Will, you lose control over these important decisions. Instead, Ontario’s laws will dictate how your assets are distributed and who takes care of your dependents. This can lead to complications and delays for the person managing your estate, making an already difficult time even more challenging. Having a Will gives you peace of mind, knowing that your wishes will be honored and your loved ones will be taken care of.

When creating your Will, the first step is to appoint an executor to manage your estate, along with an alternate in case your first choice is unavailable. You may also wish to include specific funeral wishes or requests. Next, specify your beneficiaries and what they will inherit. It's good to list significant assets and any specific items you want to leave to someone. Additionally, add a residuary clause to cover any remaining assets not specifically mentioned. If you have children, dependents or pets, be sure to designate a guardian for their care. 

Lastly, ensure your Will is signed in front of two witnesses to meet Ontario’s legal requirements. We’re here to guide you through the estate planning process, answer any questions you may have, and ensure that all legal requirements are met for your peace of mind.

You can choose trustworthy family members—like a spouse, adult child, or sibling—or close friends as your executor. Professionals such as lawyers, accountants, or financial advisors are also good options. 

Another choice is to appoint a trust company, which offers professional and neutral management of your estate. When selecting an executor, consider their reliability, organizational skills, and willingness to handle the responsibilities. It’s essential to discuss your choice with them beforehand to ensure they are comfortable with the role.

Unlike your Will, which outlines what happens after your death, a Power of Attorney (POA) allows you to dictate decisions while you’re still alive.

A POA is a legal document that enables you to appoint someone to make decisions on your behalf if you become unable to do so. There are two main types: the Power of Attorney for Personal Care, which designates someone to handle your health and personal care decisions, and the Power of Attorney for Property, which allows someone to manage your financial affairs, including bank accounts and bills.

Having a POA is crucial for ensuring your wishes are respected, minimizing family disputes, and avoiding legal complications like guardianship applications. 

We can prepare your Powers of Attorney alongside your Will for a complete estate plan.