SERVICES

Wills & Power of Attorney

Wills

A last Will and Testament is a legal document that sets forth your wishes regarding the distribution of assets, property and legal guardianship and care of your minor children. 

A Will preforms several functions:

  1. If you have children under the age of 18, a Will gives you the opportunity to name a guardian and state your wishes with respect to who will look after your children and their property if you pass;

  2. A Will allows you to leave instructions for how you want your property to be divided and distributed when you die; 

  3. A Will lets you name a person who will administer your personal affairs and will carry out your instructions left in your Will.  This person is called a personal representative, executor, or trustee. 

  4. A Will allows you to estate plan to minimize your tax burden. 

Non-Continuing Power of Attorney for Property

This power of attorney is only used for specific situations for a specific length of time.  You detail the specific tasks your attorney is allowed to do on your behalf and for how long. 

This type of power of attorney is automatically revoked if you become mentally incapacitated and therefore is not a substitute for a continuing power of attorney.

Power of Attorney

A Power of Attorney is a legal document that gives someone else the power to act on your behalf. This person is called your “attorney”. 

 

In Ontario there are three different types of powers of attorney you can give someone. 

1.    A non-continuing Power of Attorney for property; 

2.    A continuing Power of Attorney for property;

3.    A Power of Attorney for Personal Care

Continuing Power of Attorney for Property

This power of attorney authorizes a person to act on your behalf in financial matters if you become mentally or physically incompetent. 

 

If you are unable to act on your own behalf, your attorney can:

  1. Pay your bills; 

  2. Apply for benefits you may be entitled to as a result of your disability; 

  3. Collect pension and other income you may be entitled to; 

  4. Monitor your investment portfolio;

  5. Ensure your assets are otherwise protected. 

 

Your power of attorney can be drafted to be as specific as you want. 

Colleagues Going Over Plans

Power of Attorney for Personal Care

This document allows your appointed attorney to make health care decisions on your behalf if you become incapacitated. 

These decisions involve decisions involve your quality of care and could involve decisions around your continued life support.

Wills

A last Will and Testament is a legal document that sets forth your wishes regarding the distribution of assets, property and legal guardianship and care of your minor children. 

A Will preforms several functions:

  1. If you have children under the age of 18, a Will gives you the opportunity to name a guardian and state your wishes with respect to who will look after your children and their property if you pass;

  2. A Will allows you to leave instructions for how you want your property to be divided and distributed when you die; 

  3. A Will lets you name a person who will administer your personal affairs and will carry out your instructions left in your Will.  This person is called a personal representative, executor, or trustee. 

  4. A Will allows you to estate plan to minimize your tax burden. 

Questions?

We are ready to help guide you through even the most difficult times.

Please contact us with any questions you have.

TorontoSkyline-min.jpg