Wills and Estates can be complex processes.
There are three basic documents that can form part of wills or estate plans.
A will allows you to decide who looks after your affairs after you die and who inherits your estate. A will must be properly drafted and signed to be effective. If you do not have a valid will upon death, the provincial legislation will determine how your affairs will be administered and who will inherit your estate.
Power of Attorney
While a will looks after things after you die, you need to also plan for the situation where, due to mental infirmity or other reasons, you need someone to assist you with financial matters while you are still alive. A Power of Attorney is a document that allows you to appoint someone to handle financial and legal affairs while you are still alive.
This document allows you to appoint someone who can assist in making health and personal care decisions for you. You can specify when it becomes effective and it can contain living will type provisions.
What is probate?
Probate is basically the process whereby the court affirms the validity of the will. This allows the executor to proceed with his or her duties. The executor would search for estate assets, debts, and other required information. We can assist you by preparing the necessary documents and making the application for probate. Probate fees are payable based on the value of the estate.
Call John today for an experienced approach to Wills and Estates