Why do I need a Lawyer to prepare my will?
Cost - Many people think that they will save money by preparing their own will however, if imprecise language is used, it may end up costing more money in the long run because of interpretation problems.
Tax Savings - Canada does not have estate or inheritance taxes but death triggers federal income taxes which could see you lose up to half of your estate. We can assist you with a proper estate plan to minimize taxes now and for your beneficiaries. Why not plan to pay less taxes?
Consideration for your Family - The time and cost of a lawyer-prepared will is small compared with its benefits. A will avoids uncertainty, which can lead to argument among beneficiaries, delaying settlement of your estate and increasing costs. We can provide you with peace of mind knowing your affairs are in order and your beneficiaries will not have to deal with the courts to settle your affairs while they are grieving.
Already have a will? Keeping your will up to date is crucial
If you already have a will, you have taken a key step in ensuring your affairs are in order. It is very important however, to keep your will up to date and ensure that appropriate changes are made in a timely manner. As more time passes, changes in your life are more and more likely to be serious enough to effect the validity of your will. Many events in life may require that modifications to your will be made including:
- Marriage or divorce;
- Birth or adoption of a child;
- Death of a family member or beneficiary;
- Changes in Federal or Provincial tax laws;
- Substantial change in the value of your estate;
- Change in the nature of your property holdings
- A Guardian or Executor or Trustee moves away, dies, or is no longer willing or able to serve;
- Your children reach the age of majority;
- You move out of province; or
- You wish to eliminate gifts to certain beneficiaries
We can assist you in making the appropriate changes to your will when any of these issues arise.