Wills And Estates: Secure Your Future By Planning Ahead
North York Law Firm Lichtblau Law brings more than 20 years of experience in Wills & Estates, helping clients plan for the orderly distribution of their assets on death and advising them on a wide range of family planning concerns. We serve our clients in preparing:
- Wills (Last Will & Testament)
- Power of Attorney/Living Wills;
- Estate Planning
- Trusts, including inter vivos trusts (living trusts), testamentary trusts, spousal trusts, family trusts, and special needs trusts for adults (Hanson Trusts);
- Probate applications;
- advising Executors of wills on estate administration, including the new Estate Administration Tax; and
- Mediation of estate disputes.
Before any plan is developed, a detailed review of the full inventory of assets, property and debt that will be included in the estate is made. Once the size and nature of the estate is known options available for best meeting your needs will then be discussed so a plan can be devised to meet your objectives at reasonable cost.
At Lichtblau Law the focus is on developing plans that meet the unique circumstances of each client, whether that means a simple will, Powers of Attorney, Living Will or a more complex plan involving trusts, multiple wills and other legal methods.
Estate Administration
The administration of estates involves multiple, complex matters that will be confusing to many first time executors of a will. Lichtblau Law has advised and represented estate administrators and trustees in both simple and complex estates. We appreciate that Executors of an estate need timely and practical advice to efficiently administer estates and for balancing confidently the different and competing interests. We respond promptly to enquiries by phone or email so you can resolve the administrative as they arise. Lichtblau Law will give you the confidence to manage the day-to-day load.
For more information on your estate planning needs, contact our office for an initial free meeting. Alternatively, send an enquiry by email, giving your name and the nature of the question.
What is a Trust?
A trust is a legal vehicle where you give a person or persons (the “Trustee”) control over property, whether real estate, money, businesses etc, to manage and administer for the benefit of other named persons (the “Beneficiaries”). For example, you establish a fund for your children and name a family member or friend to control the fund and use it only for the welfare and benefit of your children. When setting up the trust you can set out in various degrees of detail who you want to benefit, how the property is to be used; how funds are to be paid out and and for how long the trust will run. The Trustee is bound to deal with the property in accordance with your instructions.
Testamentary Trust and Inter-Vivos Trust
There are a variety of trusts. A testamentary trust is one that is created in a Will and takes effect on death. A trust set up during the creator’s lifetime (the “Settlor”) is called an inter-vivos trust.
Power of Attorney for Property, Personal Care and Living Will
Power of Attorney for Property
A Power of Attorney for Property is a document where you appoint someone (the “Appointee”) to sign documents when you cannot for whatever reason. This document empowers an appointee (the ‘Attorney”) to deal with your property. Since a Power can be abused by the Attorney there are a number of factors you should consider before giving it. One of the most important is your confidence that the Attorney will only exercise the power for the purposes you intended. To ensure this is done a Power of Attorney can be restricted to specific actions that limit the Attorney’s power. Without restrictions, a power is considered general and unrestricted.
Power of Attorney for Personal Care and Living Will
A Power of Attorney for Personal Care empowers a named person or persons to give instructions to your health care givers regarding your care and welfare. It will generally be needed if you are unable to give instructions for whatever reason. Without a Power of Attorney for Personal Care if you are unable to instruct health care providers, they will look to the legislation that sets out a list of persons in order of preference who health care givers can turn to for instructions about your care. If you want your wishes to dictate who will give instructions you have to appoint an Attorney. If the Attorney you appoint is unable to exercise the power you can name alternatives to act in case your first choice can’t act.
A Living Will is simply a Power of Attorney for Personal Care where you give instructions how you want your Attorney to instruct health care givers if you lose consciousness, fall into a vegetative state and can only be kept artificially alive. You can also give instructions what the Attorney is to do regarding resuscitation. Without a living will, the question will happen in these circumstances can become the subject of intense conflict within a family as family members debate their preferences or what you might have wanted to happen. With the “Living Will” your wishes are no longer something to be debated and the Attorney be confident he/she/they are acting in a way you would have wanted.
Book An Initial Consultation To Assess Your Needs
For more information on your estate planning needs, contact our office for an initial consultation at no cost. Alternatively, send an inquiry by email, giving your name and the nature of the question. Contact Yoel at 416-633-2465 or email