In the realm of estate planning, the complexity of legal matters can often be overwhelming. However, with the assistance of a skilled will planning lawyer in Toronto, such as those at Duensing Law, navigating through Ontario’s legislation becomes a smoother process. While the prospect of Toronto wills lawyer fees may seem daunting, our team is committed to working closely with you and your business to ensure a financially sound future.
The concept of dual wills, consisting of primary and secondary wills, holds particular importance for business owners. A secondary will in Ontario serves to govern various aspects, including the testator’s private company shares and assets held in trust by said companies, all aimed at minimizing the need for probate. With recent changes in probate application requirements since January 2015, accurately valuing estate items has become more intricate, potentially leading to inaccurate results and additional costs for executors. However, dual will offer a strategic solution, allowing for the transfer of shares without probate, thus streamlining the process and reducing tax liabilities. At Duensing Law, we understand the significance of these legal instruments and are committed to providing tailored guidance to optimize their benefits for your business.
In addition to mitigating tax liabilities and enhancing individual privacy, dual wills offer tangible advantages for businesses. By minimizing probate fees, also known as Estate Administration Tax, and facilitating the transfer of assets without probate, dual wills contribute to the efficient management of business affairs.
Our team at Duensing Law is well-versed in the nuances of estate planning and can offer invaluable expertise to ensure that your business interests are safeguarded. With our commitment to providing comprehensive legal counsel and personalized attention to each client, Duensing Law stands ready to assist you in navigating the complexities of dual wills and estate planning in Toronto. Reach out to us today to schedule a consultation and take the first step towards securing the future of your business.
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