Preparing a will with a lawyer is your best bet to securing peace of mind for the future of your loved ones. Our comprehensive wills and powers of attorney packages were made from expertise and years of experience. At Duensing Law we understand the importance of simplicity, efficiency, and aligning with your unique goals and objectives. By choosing our services, you can benefit from a range of features designed to protect your legacy.
The main goal of the work we do for you is to minimize the tax and probate fees payable upon your passing, ensuring that more of your assets are preserved for your loved ones. With meticulous attention, we help you designate trusted guardians for your minor children, ensuring their well-being and care. We assist in establishing trusts to safeguard your children’s inheritance, allowing for the distribution of assets at defined ages or milestones.
Our services extend to setting up Henson trusts, which enable individuals with special needs to continue receiving government assistance even after your passing. Through strategic planning, we can help shield your children’s inheritance from equalization should they experience a separation from their spouse or partner. We provide provisions that allow you to designate assets to common-law spouses, friends, or charitable organizations, ensuring your estate benefits those you care about most.
Our comprehensive approach includes empowering the executor with the ability to make tax-efficient elections under the Income Tax Act, potentially reducing the tax burden both upon your passing and during estate administration. We recognize the importance of digital assets in today’s world and provide provisions to grant authorized access to your digital accounts and assets.
Stay ahead and stay prepared with a comprehensive approach to your estate planning by updating your will. Regularly reviewing your will is crucial, and certain circumstances may necessitate a revision of your estate plan. In the unfortunate event of the passing of a beneficiary or an estate trustee named in your will, it is advisable to review and make necessary adjustments to ensure your intentions are accurately reflected.
If your chosen estate trustee moves outside of Ontario, it is essential to reassess your estate plan and consider appointing someone who resides within the jurisdiction for smoother administration. Should the health of an estate trustee or beneficiary significantly deteriorate, it may be necessary to reevaluate their roles and make appropriate modifications to your will.
Marriage can have an impact on your will, potentially revoking it if it was not made in contemplation of marriage. It is important to assess the implications of marriage and update your will accordingly. Welcoming a new child into your family warrants an immediate review of your will to include provisions for their care, guardianship, and inheritance. Changes in marital status, such as separation or divorce, call a need for a thorough review of your will to ensure it aligns with your current circumstances and wishes. This includes revisiting beneficiary designations and potential adjustments to asset distribution.
Tax laws are subject to revisions over time. It is essential to stay informed of any changes that may impact your estate plan and, if necessary, update your will to maximize tax efficiency and mitigate potential tax implications. By addressing these life changing factors and promptly updating your will, you can ensure that your wishes are accurately reflected and that your loved ones are provided for in line with your current circumstances.
Choose to Trust in Duensing Law
Looking for an affordable and dependable real estate lawyer, wills lawyer, guardianships lawyer, probate specialist, power of attorney expert, or estate & trust litigation lawyer in the Greater Toronto Area? Look no further. Our reputable Toronto firm offers a comprehensive range of legal services to cater to your specific needs. Whether you require assistance with wills, real estate transactions, estate administration, or have any questions, our dedicated team is here to help. Simply give us a call at 416-601-4769 or fill out our contact form on our website, and we’ll respond promptly. We understand that every situation is unique, and we’re committed to addressing your concerns and providing tailored solutions. Take the first step towards securing your legal matters—contact our law office in Toronto today for a complimentary consultation.