A will is most probably one of the most important things that you can have to ensure your family’s future. Visit Flesher & Mann for expert advice on wills and estates in Guelph. Besides legally protecting your spouse, children, and assets, a will gives you the opportunity to make important decisions before you pass away. Our estate planning services are designed to help you achieve your objectives and minimize taxes by preparing wills, powers of attorney, and more.
Jeffrey A. Mann, the principal lawyer at Flesher & Mann, has been practicing law and handling real estate transactions, wills, powers of attorney, and other matters related to family law since 1978. He serves clients in Guelph and Wellington County.
Top Ten Reasons to Get a Will
Drafting a will gives you peace of mind. It ensures your loved ones are taken care of even when you are not around. Take a look at the top ten reasons to get a will.
There are many reasons other than the ones listed above to have a will. While knowing the laws of the state is essential, you do not need any expertise to write your will. Contact us to help you craft your wishes into a legal document.
Common Terms in Wills and Estate Planning
Some of the common terms associated with wills and estate planning are:
Executor: An executor is a person who is responsible for carrying out the wishes of the deceased.
Devise of personal property: Everything other than real estate property falls under devise of personal property.
Devise of estate: A devise of estate comprises all property which is not personal property. Items such as real property, stocks, cash, bonds or GICs fall under devise of estate.
Appointing guardians: Guardians are people who care for your minor child/children when you no longer can. To avoid a conflict of interest, guardians and executors/trustee should be separate individuals.
Buried or cremated: You have the choice to decide whether you want to be buried or cremated.
Powers of attorney: In the province of Ontario, there are two powers of attorney - one for personal care and one for the property.
Probating a will: The recognition of the validity of a will by the court and the appointment of the person mentioned in the will as the executor is known as probating a will.
Probate fees: A probate fee is paid to the provincial government when an executor or administrator of an estate of a deceased individual seeks approval to administer an estate in the absence of a will or no executor is named in the will.
Inter-vivos trust: This is a method where the legal and beneficial ownership of the property is separate. A trustee owns the legal title to the trust property whereas the beneficiary receives all the benefits.
Joint accounts with right of survivorship: A home registered between joint tenants or a bank account which is jointly held will pass from the deceased joint owner to the surviving joint owner.
Get in touch with our estate planning lawyer who can help you draft your wishes into a legal document.