Do you have a comprehensive Will, Estate and Succession plan in place?
This is very important to ensure that your estate, assets and interests are administered as per your wishes, should you become incapacitated or pass away. While no one likes to grapple with the thought of their own demise, your loved ones look to you to safeguard their future, especially if you’re the primary breadwinner in the family.
If you pass away intestate (without a proper Will), the decision of what happens to your wealth and estate falls to the hands of the court. The administration of the estate may also be delayed as it can take several months until the court appoints someone to administer it.
A competent Wills and Succession planning strategy ensures that taxation decisions, financial management, and transfer of assets after death are undertaken in a manner compliant with your wishes.
Duensing Law is a trusted Wills planning lawyer in Toronto, dedicated to providing exceptional legal assistance in all matters relating to Wills and Estate planning. If you’ve recently lost a loved one and are embroiled in an estate dispute, our law firm is available to represent your case, fully recognizing the sensitive nature of your situation.
Why Should I Get a Lawyer to Help Me Make My Will?
Very few documents will be as important as your Last Will and Testament. This gives you the opportunity to say your piece after your passing.
Because your Will holds such weight, it’s important to prepare it strategically, taking into consideration potential future drawbacks.
Most people assume that preparing a Will is a one-off job, in reality, it’s good practice to update your Will as your personal and financial circumstances change. That way, it always reflects your most recent interests.
Do-it-yourself Will kits are no substitute for qualified professional advice. If your witnesses predecease you or cannot be located, and no such Affidavits of Execution are available, your Will may be rejected, and thus open the door to bitter family disputes and costly litigation.
To ensure nothing is overlooked, invest in a professionally prepared Will.
Will and Estate lawyers will help you understand the best way to divide your assets, especially if yours is a financially complex situation. A good lawyer is familiar with local and provincial laws to ensure your Will is valid.
They will also help you take certain timely precautions;
- place your assets in a trust to reduce tax burdens
- make allowances for family members with long-term special care requirements
- navigate through remarriage or blended family inheritances
- disinherit a certain beneficiary with a legal entitlement to your assets
- offset contentious litigation between family members in the future
Estate and Succession Planning
A property Succession plan takes into account an assessment of your current tax situation to ensure that you fulfill your reporting requirements in a timely and cost-effective manner. Capital gains or income splitting, if applicable, could also be undertaken at this time.
Given the number of factors involved, it’s integral to have quality legal guidance at every step of the way.
Duensing Law is a Trusted Wills and Succession Planning Lawyer in Toronto
Effective succession planning takes experience. Duensing Law has that experience and uses it to your benefit.
We structure affairs both during our clients’ lifetime and after their death in accordance with their wishes. Our priority is to provide practical, sound counsel on how to create a solid succession plan. Duensing Law also assists in administering the estate as quickly and tactfully as possible so that nothing requires revisiting.
Contact us today at 416-601-4769 to get started on securing your assets and finances.