Will I? Or will I not – have a will?

Having a will allows you to decide who you want to receive your estate. If you die without a will the law will decide for you.

There are many misconceptions about what the law says if you die without a will. In the absence of a will the probability of your estate being distributed in accordance with your desires is quite low. The certainty you give and the time and money you save your family by having a will is the greatest gift you could leave them.  

The preparation of your will should be done with the assistance of a lawyer who has a clear understanding of the complicated legal landscape. Having a lawyer prepare your will provides peace of mind knowing that your wishes will be carried out and your loved ones will receive exactly what you intended. A lawyer will ensure that your will is properly witnessed and that your estate pays the least amount of tax possible.

A lawyer will also ensure that your will expresses who you would like to care for your minor children in the event of your death and that your estate trustee can access your money to look after your child’s education and living expenses during their minority.

A will properly drafted, will also contain contingencies to indicate who will benefit in the event that one of your beneficiaries predeceases you.

Should you have an adult child that is disabled, a lawyer will ensure that the proper clauses are in your will so that an inheritance from you does not cause your child to lose their Ontario Disability Support Program benefits.

Lawyers also have proper knowledge to assess your situation and are trained to work with you to prepare a will which is tailored to your needs and your individual family dynamic.    

 Often individuals comment that making their will was painless and they have no idea why they put it off so long.

Not having a will can be costly and time consuming for your loved ones.

Take a few moments today to discuss your will with a lawyer, we guarantee your children will thank you for this gift.

Submitted by Tory C. Laing Wolfe, Smith & Forster LLP.

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