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Ontario Wills, Power of Attorney
PLEASE NOTE: THIS SITE DOES NOT PROVIDE LEGAL ADVICE. WE ONLY OFFER GENERAL INFORMATION
IF I DIE, DOESN’T EVERYTHING I OWN JUST GO TO MY FAMILY? WHY DO I NEED A WILL?
A Will is an important document that every individual, married or not, should have. Wills are a way for you to: name your executor(s), appoint a guardian for your child until he or she reaches the age of majority, properly allocate your property, leave funds to charity, etc. Dying Intestate (without a proper Will in place) means that your loved ones could be left with a legacy full of doubt, headaches and confusion.
LAWYERS ARE QUITE EXPENSIVE!
Many people hesitate when it comes to getting a Will done, because they do not want to pay a lawyer thousands of dollars. If you have a fairly straight-forward situation, then online resources may be a good start to create your own Will. You do not necessarily need an attorney to assist you.
IT SEEMS PRETTY COMPLEX! IF I DO A WILL BY MYSELF, HOW WILL I KNOW WHAT TO INCLUDE?
People sometimes fear doing their own Will, because they’re apprehensive about making errors. While this is understandable this should not be a reason to put off creating a Will. Wills include a variety of topics: appointing an executor for your estate, name a guardian who will take care of your child until he or she reaches the age of majority, leave funds for charity, set up a trusts, etc.
WHAT IF I WANTED TO DO A JOINT WILL?
It is typically best for every individual to have their own individual Will.
DO I NEED TO GET A POWER OF ATTORNEY AND A LIVING WILL DONE ALONG WITH MY WILL? I WANT ENSURE THAT MY LOVED ONES ARE SAFE!
Some people may prefer getting an entire estate plan completed along with their Will. A Power of Attorney grants someone else the authority if you are unable to look after your financial matters. A Living Will grants someone else the authority to look after your medical matters while you are alive.
WHAT IF I WANTED TO DO UPDATES TO MY LAST WILL AND TESTAMENT?
When there are major life transitions (e.g. moving to a different province or getting married) one should update his or her Will as often as necessary.
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