Thinking beforehand about the destiny of your assets is a smart way to live stress-free, knowing that your property and money will be handed down to your family legally. Lawyers take the burden off your shoulders, arranging all necessary details in time when you can do it at your own pace and without pressure.
Neglection of the testament may leave your loved ones confused and in tension, relying on the rules of the Succession Law Reform Act.
If a person doesn’t appoint a legal executor, though law in Canada doesn’t require such for the will, after the person passes without the correctly drafted testament or any instructions at all (law describes the last case as “intestate”), it may take months for the family to wait for the court’s decision.
It is the obligation of a legal executor to look after the interests of his or her client and check that nothing important is left out while you plan gifting assets before death in Canada.
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Why is Having a Will so Important?
Bear in mind that distribution of your property and other belongings could turn out to be a complex decision. The signed will is a last goodbye that your beneficiaries will receive.
Regardless of what the future holds, the unexpected life situations will never shatter the control over your property when you have a testament; assets will be inherited as you wish according to all the probable requirements you may have implied in your will (you may want to name one person from your family who receives the largest part of the legacy, or you may want to donate something, or leave your pet to a friend).
When you have minors, it is essential to take care of their future in advance.
Without a will, the probate process may leave your common-law spouse or close people with nothing because, according to law, your assets can be inherited only by your relatives. Your opinions on property rights in your family may be slightly different, but unfortunately, without a legally sound will, your wishes are not protected.
Testament Requirements and Recommendations
We all live according to the inevitable laws of our world. Our most important days in life require certain documents: birth, marriage, and death. Will and estate lawyers in Toronto help to make the list of necessary documents, for example:
- Birth, marriage, and divorce certificates
- Mortgages (But it is a job for our real estate lawyer Toronto)
- Insurance policies
- Bank account numbers, etc.
- The final list will depend on certain situations.
Each Canadian province’s will requirements are a bit different. Your legal representative will ensure that all drafted documents correspond to law. It is obvious that a person should be in a sound state of mind. Even an underage person can draft a will if he or she is married or has children.
You may also want to leave your funeral plans and a burial location to make sure that your family follows the procedure you want them to.
Though we are all used to storing many documents online, it is obligatory to have a will on paper (a physical copy signed by you). It is even better when you leave your signature on each page. The preferable witnesses are those who you haven’t mentioned in the will (disinterested party).
Gifting Assets Before Death in Canada with Lawyer’s Help
You can always go through the will drafting by yourself. You can write your testament by hand (the term for it is holographic), draft online, etc., but valid witnesses should verify that the will belongs to its owner.
In some cases, relatives contest the will, though it is a long and tiring legal process.
The spark that starts the contest could be someone who thinks that your last word isn’t legally valid. In this case, there must be serious evidence to make the court overwrite your wishes. One reason, for example, is a situation when you cut off one family member from the will (intentionally or by mistake).
To avoid all possible misinterpretations and difficulties in the future, it’s crucial to find a trustworthy lawyer who explains every single detail and translates law language into plain English for you, in case you don’t understand the specifics. Our experienced lawyers not only ensure the safety of your testament, but will make the whole process no sweat.
The top advantages of why our clients choose experience advisers to represent their interests are:
- Any complexity of the case;
- Different types of attorneys;
- Wide array of legal services;
- The topmost level of expertise.
Assets administration processes and will drafting can be stressful, and the best route to take is to confide in De Krupe Law professionals.Make your mind today, don’t put it off for later.
Summary
A lawyer-approved will guarantee that no one of your dearest ones is offended when you’re gone and assets are distributed according to your instructions. After you draft a legal testament, the confidence in your family’s future will warm your heart.
The first step starts with a free consultation with an experienced team of legal advisers, which delivers the most beneficial solution for every question with care and compassion.
You can always call us or book in-person meetings in Toronto, Newmarket, and Barrie at your convenience. You may come to one of our offices. We can arrange an online consultation so you may start planning your will without leaving the comfort of your home; we stay in touch from Monday to Saturday.
Focus on your long and happy life while your legal affairs are already taken care of.
Gifting Assets Before Death in Canada FAQ
Can I also create a living will?
Yes, you can also name someone to handle your finances and leave your healthcare wishes to this person.
I don’t want my family to find out what is written in my will. Can you guarantee this?
Absolutely, no one can access your will until a certain time comes.
How can I get acquainted with lawyers in your company?
First of all, you can contact us to schedule the first meeting.
Can I update my will and a list of gifting assets before death in canada?
Yes, when you buy new property or other assets, or when your relationships with relatives change, or you have a new little one in your family, you should update your will, and our help is available every time you may want some advice.