Experienced Estate Planning Lawyers Serving Six Offices throughout Toronto and Ontario

In addition to handling family law matters such as divorce, separation and child support, Gelman & Associates is proud to be able to create and update Wills and Powers of Attorney for you and members of your family.

The Importance of Drafting a Legally Binding Will

A Will is one of the most important documents a person can ever prepare. So it is alarming to consider how many people do not have one. Why does everyone need a Will? There are several answers to this question, but here are a few important reasons to consider:

1) Control of Your Estate

A Will, which only comes into force upon your death, is a legal document wherein you can dictate how and to whom your assets are to be distributed. Anyone who dies without a Will is automatically forced to follow legislation governing these matters. By not having a Will, you are, in essence, surrendering control to the courts and/or government, and allowing them to decide how your estate will get divided among your heirs. The governments’ legislation will also dictate who your heirs will be.

2) Nomination and Appointment of an Estate Trustee

One of the most important clauses in a Will is the nomination and appointment of an Estate Trustee. The Estate Trustee, typically a loved one, is the person responsible for dividing the estate and who will look after your affairs once you pass on. No estate can be distributed without the appointment of an Estate Trustee. By preparing your Will in advance, you get to determine who you wish to appoint as Estate Trustee.

3) Delays and Cost

When someone dies without a Will, their family is obliged to commence a court action and seek an order from the court appointing someone as the Estate Trustee. Until an appointment is ordered by the court, all of your assets will be frozen.

This process usually causes many delays as family members will have to follow court procedures and timelines. Commencing a court action also leads to legal fees. All of this aggravation is preventable as long as you have a Will and have appointed an Estate Trustee.

4) Children

To all parents with minor children, it is crucial that you prepare a Will. In your Will, you must address significant details such as who will be the guardians of your child(ren) and how their inheritance should be managed and used.

Another important point to consider is that, according to law, children are entitled to control any inheritance at the age of eighteen. By preparing a Will, parents have an opportunity to dictate how the inheritance is to be distributed amongst their children and at what age. Many parents consider eighteen to be too young to manage an inheritance and therefore decide to choose a more appropriate age.

Contact Our Estate Planning Lawyers at one of Our Six Offices throughout North York, Downtown Toronto, Mississauga, Scarborough, Aurora and Barrie

Contact Gelman & Associates today to learn how our lawyers can help you to draft a simple Will or Power of Attorney. With six offices conveniently located throughout North York, downtown Toronto, Mississauga, Scarborough, Aurora and Barrie, we are easily accessible by transit and off-highway. Call us at (416) 736-0200 or 1-844-736-0200 or contact us online for a confidential initial consultation.

From the Blog

Latest posts from the Gelman & Associates blog

22

Woman Sentenced to 60 Days in Jail After Falsely Accusing Ex-Husband of Attempted Rape and Domestic Violence

An Ontario woman, who falsely accused her ex-husband of a number of violent acts including attempted rape and domestic violence, has been sentenced to jail time. The woman claimed that her ex-husband broke into her apartment, threw her onto her bed, choked her repeatedly, threatened to kill her, and attempted to rape her several times. …


Read More
13

Father Accuses Mother of a “Hostile Sexual Act of DNA theft” in Child Support Dispute

An Ontario court recently dismissed a claim that a father claimed against the mother of his child, claiming that he was a victim of sexual DNA theft. What Happened? The parties met at a music festival, where they were both working. The mother was 38 years old at the time, and the father was 23 …


Read More
07

Husband’s Affair May Allow Wife to Seek Larger Share of Net Family Property

The Ontario Court of Appeal recently ruled that a wife whose husband had been having an affair may seek a larger share of net family property to offset the money the husband had spent on his lover. The Court was careful to note that the wife cannot use her suspicions of the husband’s misconduct to …


Read More

Contact

Questions? Send us an email

Contact Form - Home
Sending