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You know you should have a will but may not know the right way to get it done. We offer you a tailor-made solution
Why is a will important?
A Will is a document that expresses your directives regarding how you would like your assets at the time of your death to be distributed. The legal system takes very seriously the need for authenticity and accuracy of your document.
What is the role of witnesses to a will?
Two witnesses are required to sign your will. Neither witness can have an interest in your assets and at least one of the witnesses must appear before a commissioner of oaths to have an affidavit signed. Our staff can serve as witnesses to the will, and as lawyers, we can commission the affidavit.
What are Mirror Wills?
Often spouses have their wills drafted at the same time with similar provisions. Joint ownership laws allow that your assets will be distributed in accordance with the will of the surviving spouse. Wills drafted for couples in these circumstances are Mirror Wills. We will brief you in full if this applies to your situation.
What are Mutual Wills?
If the assets are held jointly, the only way for a person to be sure that they will be allocated as agreed to by both is to create a contract between them which restricts their right to change their wills. This is often known as mutual wills, or is sometimes referred to as a will agreement.
Is it a good idea to jointly own an asset with your child?
Some parents add a child as a joint holder of a bank account or a registered plan (RRSP, TFSA, etc.) or a piece of property, for primarily tax savings. If a child is such a beneficiary, he or she will inherit the full value of the asset upon your death. Which can cause one child to receive more than another. A will has to be crafted carefully in these circumstances for a fair outcome to your children.
When should you appoint a Power of Attorney?
It is good practice to address a situation where you become incapacitated due to illness or injury. In such an event, you can appoint an attorney to manage your affairs by drafting a Power of Attorney for personal care and a Continuing Power of Attorney for property. You legally authorise them to assume responsibility on your behalf.
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How Mathew & Gupta make a difference.
In one word, experience.
We work closely with you
We will take the time to tailor the will to your personal circumstances, walk you through the process, make sure your will is completed and signed properly, and hold your wills for you. This ensures that your will can be probated years or decades down the line.
Your will should be clear, accurate and strictly follow the legalities in place.