Creating Your Will And Granting Power Of Attorney
Most people in Ontario, even if they think they have modest income, should have a will and power of attorney documents. A will gives you the opportunity to bequest your belongings to whomever you choose. Beyond your financial assets, this includes specific items of personal importance such as pets or family heirlooms. Powers of attorney documents grant specific individuals legal authority to make decisions about your finances and health care.
Lawyers at Daniels Law Firm in Ottawa can ensure your will and power of attorney documents hold up in court, by drafting them in a way that conforms to legal standards, specifically the Succession Law Reform Act, Substitute Decisions Act and Ontario case law. Importantly, Daniels Law Firm also drafts modifications to existing wills, known as “codicil,” in a way that will withstand legal scrutiny.
The experienced estate litigation and family law counsels will also alert you to potential issues that may arise after your passing and how best to avoid them. The firm can also advise you on the responsibilities of a power of attorney and when they can be exercised.
Benefits Of Wills And Trusts
Having a will can prevent family members from getting into disputes about what you would have wanted, simply because you have made your wishes clear in your will. In addition to identifying who should get your monetary assets, your will can also name guardians for minor children, should you pass before they reach adulthood.
Often, people choose to place assets in a trust for specific legal reasons. These include protecting assets for dependant loved ones, who are minors or in a case of Henson Trust, those who are disabled. Henson trusts are for those with disabilities whose government benefits might otherwise cease if they were to receive an inheritance outright. Upon discussion about your goals, Angela Daniels can advise on the best legal tools for you.
Powers Of Attorney In Ontario
Every person has the right to make his or her own legal, financial, personal and health care decisions. Yet this right ceases when a person is no longer of sound mind and his or her actions result in depletion of his or her assets. When this happens, the family members must go to court to apply to make decisions on his or her behalf. Having a continuing power of attorney for property and power of attorney for personal care drafted by Daniels Law Firm prevents these issues from arising, as the decision-maker is already chosen by you.
In Ontario, there are three types of powers of attorney:
- Continuing power of attorney for property
- Non-continuing power of attorney for property
- Power of attorney for personal care
There are specific rules about each kind, and when they come into effect, which firm counsel can discuss with you in more detail.