Wills and other estate planning tools, such as powers of attorney, are critical elements of estate planning and permit individuals to structure their affairs in accordance with their wishes. These tools are effective means by which to maintain control over important elements in your life. If you do not have a will, your estate will be divided in accordance with legislation, irrespective of how you may have wanted it to be divided. Proactively planning for the future and making early decisions with respect to assets and finances can prevent future stressors and expensive legal battles.
When planning your estate and your future affairs, it is critical to consult with a knowledgeable estates lawyer with significant experience in this area. Duncan, Linton LLP is the oldest independent law firm in Waterloo Region. We have been providing clients with estate planning guidance for over 160 years. We are well-respected and trusted, and pride ourselves on our strong client relationships and record of excellence. The wills lawyers in our Wills and Estates Group can assist you with all elements of planning your personal affairs.
The Importance of a Valid Will
A will is one of the most powerful tools in ensuring your estate will be distributed in accordance with your wishes. When someone dies without a will, or “intestate”, their estate is distributed in accordance with the Ontario Succession Law Reform Act, irrespective of what the wishes of the deceased may have been.
In contrast, having a valid will allows a person to structure their affairs and finances upon death in almost any manner they wish. A will can help you:
- Take advantage of tax planning and deferral strategies to maximize your estate;
- Ensure your wealth and assets are handed down to beneficiaries in the most tax efficient way;
- Ensure your spouse, children, and other beneficiaries have sufficient income after your death;
- Donate to organizations or causes of your choice.
It is important to proactively consider what you want to happen to your assets, who you may wish to provide for, and how. This should be formalized in a valid, up-to-date will. It is likewise important to update your will and/or estate plan as your life circumstances and family situation changes.
Contact the Estate Lawyers at Duncan, Linton LLP in Waterloo for Clear and Trusted Assistance with Will and Estate Planning
For over 160 years, we have assisted clients in Kitchener-Waterloo, the greater Waterloo Region, Cambridge, and across Southern Ontario with their wills and estate planning. We offer personalized, tailored services that allow each of our clients to meet their long-term objectives. Call us at (519) 886-3340 or contact us online for a consultation.