Wills & Estate Frequently Asked Questions:
What's a Will got to do with me anyway? I won't be around to worry about it!
You may not be around but your family will. You plan and take care of them while you are alive. Why not look after them while you’re gone? A properly prepared will does that, giving you and your family to carry out your final wishes.
What if I don't prepare a Will?
Your property and Estate, the money and assets you have at the time of your passing, will get distributed by law – which may not be the way you would have wanted it to go. The point is – Why lose control to the government over the property which you worked to attain and build?
What if I have very little to give away?
You’d be surprised. Insurance and other sources of contingent income may greatly increase the value of your Estate in years to come, especially at the time of your death.
Who'll look after my children when I'm gone?
A Will gives you an opportunity to appoint a guardian for your children so you won’t have to worry about their care and maintenance.
I'm worried about time and cost. I want to know how much and how long it will take?
Your fee will be discussed with you by your lawyer at the outset. Most of your concerns will be addressed at your initial meeting. It can take as little as two (2) weeks to finalize your Will or Enduring Power of Attorney depending on your schedule, and sooner where necessary.
If I already have a Will, when should I have it reviewed?
Whenever any of the following occurred:
Newborn children come into the family
Divorce or marriage
Acquire substantial assets, like a new home
A change of choice of Executor
A move out of province
Every three (3) years, if none of the above has occurred
What is an Enduring Power of Attorney and what does it do?
This document gives you the ability to appoint someone to handle your financial and personal affairs should you become mentally of physically incapable of managing them yourself. It will save time and costs for your Attorney should anything happen to you.
What is a Personal Directive?
Similar to an Enduring Power of Attorney, except that it appoints someone to look after your personal care should you become unable to do so.
What is Estate Administration?
If you have been appointed as Executor (the person who handles the Estate of someone who has died) you may need our assistance in dealing with banks, the Court, and beneficiaries.