Wills & Estate
Wills, Enduring Powers of Attorney, Personal Directive, and Estate Planning
It is crucial for everyone to possess a valid will and enduring power of attorney. In the absence of a valid will, the distribution of your assets may not align with your chosen beneficiaries, necessitating court approval for the appointment of your executor and guardian for minor children.
At Sapphire Law Offices, we offer valuable advice and guidance to clients seeking assistance in drafting wills and enduring powers of attorney.
An enduring power of attorney empowers you to designate individuals who will manage both your personal and financial affairs in the event of incapacity. Without one, the government may intervene and make decisions on your behalf, potentially leading to an expensive and time-consuming resolution process.
We also provide counsel on estate planning, a practice that often aids in minimizing probate taxes upon death.
To ensure the meticulous organization of your affairs, we encourage you to reach out to us today.
Some Compelling Reasons to have a Will are:
- Distribution of Assets: A Will empowers you to decide the distribution of your assets. Without it, control over who receives what and when is relinquished.
- Guardianship of Minor Children: With a Will, you can appoint a guardian for your minor children. Without one, the court determines the guardian.
- Inheritance Age for Beneficiaries: A Will allows you to specify the age at which your children or beneficiaries inherit assets, avoiding an automatic inheritance at age 18.
- Executor Appointment: You can designate executors and alternate executors in your Will to manage your estate.
- Simplified Estate Administration: Having a Will eliminates the potential complications and expenses associated with administering an estate.
- Prevention of Family Disputes: A Will helps prevent family disputes, costly litigation, and delays that may arise in the absence of one.
- Trustee Appointment for Disabled Beneficiaries: With a Will, you can appoint a trustee to manage funds for a disabled beneficiary, ensuring they don’t lose government benefits.
- Protection Against Inheritance for Child’s Spouse: A Will safeguards against the inheritance of your estate by your child’s spouse in the event of separation or divorce.
- Consideration for Common Law or Same-Sex Spouses: A Will enables you to provide for common-law or same-sex spouses who might not inherit under Canada’s law without one.
- Costs and Taxes Mitigation: Dying without a Will may lead to increased costs and taxes, reducing the amount available to beneficiaries.
If you are interested in having your Will and enduring powers of attorneys prepared, kindly contact our office to schedule an appointment for discussing and finalizing your wills and enduring powers of attorney.