A well drafted Will can save your estate significant money. A poorly drafted or poorly prepared Will often results in expensive legal fees, court costs, and delays when attempting to obtain Probate of a Will. If a Will is vague, confusing or open to interpretation, it may be necessary to bring the Will before the court to have a judge interpret the terms of the Will. Without proper legal advice, family conflict, uncertainty, and confusion may arise which may result in very costly estate litigation. Wills estate lawyers

What is a Will?

A Will is a document containing your instructions and wishes for the administration and distribution of your estate after your death. It is important to have a Will that records your wishes so that your assets such as your house, land, car, shares, bank accounts and insurance policies are distributed how you wish. You can also use a Will to appoint an Executor, name a guardian for your children, set up property management for young beneficiaries, or forgive debts. Any person who has reached the age of majority or older and of sound mind can make a Will. The person who makes the Will is called the “Testator” (sometimes called an Estate Trustee).

Why do I need a Will?

Without a Will, you have no control over who will look after your property, how your property will be distributed and who will be a guardian for your children. The individuals the court chooses to appoint to these roles may not be the same individuals you would have chosen if you had prepared a Will. Lawyer for will Canada

Without a Will, all of your property will be divided according to Provincial law. More often than not, the division under such law will result in an unexpected and unfair division of estate assets.

In addition, the distribution of the estate may be severely delayed with higher administration costs.

Any share of your estate allocated to any minor children will be held until they become of age (unless a court application is brought to release some of these funds). When the minor child reaches the age of majority the child is entitled to receive the entire inheritance without any restrictions. If the child does not handle the inheritance wisely, there is nothing anyone can do about it.