Wills and Powers of Attorney
I will work with you to create a will or a power of attorney that meets your goals.
Do I Need a Will?
If you die without a will, a situation referred to as intestate, the succession laws of Ontario will apply. These laws will prescribe who may administer your estate and this may not be the person you would have chosen. These laws also set out how your estate will be divided and this may also not be what you had in mind. It is possible that relatives will receive a share of your estate who you did not intend to benefit. In addition, no one will be able to handle your affairs until an Estate Trustee without a Will has been appointed by the court.
There are many benefits to having a will. A properly drafted and signed will allows you to:
- choose the estate trustee (formerly called executor), the person or persons who will administer your estate
- set out how your estate will be divided and who will benefit from your estate
- provide for your loved ones, including a common law spouse, step children, or other persons who may not receive the same or any benefits if there is no will
- give away specific items or mementos
- name a guardian for your children and determine the age that your children, or other persons, will receive their share of the estate
Powers of Attorney
There are two types of powers of attorney: Power of Attorney for Property and Power of Attorney for Personal Care. These documents allow you to designate certain persons or "attorneys” to make decisions for you.
Power of Attorney for Property
A broad Power of Attorney for Property will allow the designated attorney to do everything with property that you can do except to make or change a will. This includes such things as paying your bills, banking, filing income tax returns, or selling property including your home. If a Power of Attorney for Property is required for specific purposes, you can restrict the authority or powers contained in the document. For instance, you may need to name an attorney to be able to sign certain documentation to complete the sale of your cottage while you are out of the country.
Power of Attorney for Personal Care
A Power of Attorney for Personal Care is used to designate someone to make medical treatment and personal care decisions for you if you lose the mental capacity to make these decisions yourself. Depending on the extent of your mental incapacity, the attorney will be able to make health care as well as personal care decisions for you. This might include day-to-day decisions such as accommodation, food, clothing and personal hygiene.