Things to Consider
When contemplating preparing your Last Will and Testament, you should consider who will be your beneficiary, or beneficiaries. When doing so, you may wish to consider whether special arrangements need to be made for beneficiaries with disabilities, spendthrift beneficiaries, beneficiaries with addiction problems, or beneficiaries who are experiencing marital difficulties. I would be pleased to discuss the solutions which best meet your specific circumstances.
Executor and Trustee
When preparing your Estate Plan, it is important to consider who will administer your estate on your behalf at the time of your death. This means selecting an “Executor and Trustee”. The Executor and Trustee's duties include, but are not limited to:
- locating your Last Will and Testament;
- confirming its validity with the court through the probate process;
- providing legal notification to creditors;
- filing final of income tax returns and paying the appropriate taxes;
- paying debts and liabilities; &,
- distributing your assets as per the provisions of your Last Will and Testament.
Appointment Of Guardians For Minor Children
Appointment Of Guardians For Minor Children
Appointment Of Guardians For Minor Children
This means determining who will have care and custody of your minor children in the event of your passing.
Protection From Legal Claims by Ex-spouses
Appointment Of Guardians For Minor Children
Appointment Of Guardians For Minor Children
The protection of your estate from legal claims by ex-partners includes clear language in your estate planning documents that explicitly disinherit your ex-spouse or revokes any previous bequests to them.
Avoid Family Disputes
Protection Of Business Interests
Protection Of Business Interests
The reduction of the risk of a testamentary challenge, and bitter family disputes.
Protection Of Business Interests
Protection Of Business Interests
Protection Of Business Interests
Ensuring the seamless transfer of your business interests. This can include transferring ownership to a specific person or entity, selling the business, or appointing someone to manage the business on your behalf.