Wills & Estates

Wills & Estates

Wills & Estate Lawyer In Oshawa


WHY IS A WILL NECESSARY?

The answer to this question is important, especially since the majority of people living in Ontario do not have wills.  Simply put, the answer is:

  • If you do not have a will, you cannot select the executor who will administer your estate.  If you do not have a will, the person who will be in charge of your assets and in control of the needs of your family will be appointed by the court.
  • If you do not have a will, you cannot choose who is to receive a benefit or gift from your estate. Without a will, provincial legislation dictates who will be your beneficiaries, and the people that you might have wanted to receive a gift will not inherit anything. This is especially important if you have a common law spouse or same-sex partner.  Your partner may not be considered your spouse for division of your assets.
  • If you do not have a will and your children are under 18, the children’s bequests will be paid to the court.  The Court will hold the assets until the children attain age 18.  Not only does this take the assets out of your control, the children will automatically receive their bequests once they turn 18, whether or not they are mature enough to manage the money or the assets. A will allows you to set the age children are to receive their bequests and provides the flexibility to set up trusts for children or to consider any special needs of family members.
  • A properly written will may result in increased tax savings, both at the time of your death and following your death, which would not be available without a will.

At Thomas & Efraim we can assist you with all of your estate planning needs and the Wills and Estates lawyers at Thomas & Efraim pride themselves on giving our clients the attention they deserve in preparing these important documents.

All Wills and Estates services are provided on a flat fee basis, or pricing schedule can be found here.

Estate Planning Services
Preparing & Protecting Your Estate For the Future
Intestate
When Should a Will be Reviewed?
Probate and Estate Lawyers
Obligations and Duties of an Executor
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