Do you have a Will?

A Will is one of the most important documents a person can have prepared during their lifetime. If you have minor children, heaven forbid something should happen, you might want a clause in your Will addressing who will have custody over your children. Ultimately, a Will can enable you to maintain control over your assets and ensure your loved ones are taken care of.

Assume you do not die tomorrow, but have a severe stroke tomorrow and live for the next 30 years. Who will make decisions with respect to your property and personal care? In this case it would be good to have a Continuing Power of Attorney for Property and a Power of Attorney for Personal Care.

What if you die without a Will?

If you die without a Will, you will be deemed to have died "intestate". Your assets will be distributed according to the rules of intestacy under the Succession Law Reform Act. The SLRA provides for an estate distribution beginning with your spouse, then your children, etc. The intestacy scheme and amounts might not reflect your preferences as to who should get what out of your estate. Dying without a Will can also introduce substantial delays and considerable costs to managing and distributing your estate, which can be avoided by having a Will.

If having a Will and Powers of Attorney interests you, you can send me a confidential email to colincuttress@outlook.com or call me at 647 643-2065.