Canadian Elder and Wills Lawyers
are listed under the following provinces:
BC | Alberta | Saskatchewan | Manitoba | Ontario | Quebec | NB | NS | Newfoundland
Click on a Province to find Canadian Elder and Wills Lawyers, and Canadian Elder, Probate Lawyers:
Canadian Wills Estate Lawyers
When a person dies without a will, all of that person's property is distributed according to a formula fixed by law.
Without a will, legal costs are increased. It can also lead to hard feelings. Finally you will have no say as to who will look after your affairs after you have gone.
Preparing a will is relatively inexpensive and not time consuming.
There are a number of vehicles a person can chose:
- Living Wills - Personal Directives A personal directive is a legal document which gives instructions on major non-financial personal decisions if you cannot make your own decisions;
- Enduring Power of Attorney
- Alter Ego Trusts
This is only available in some provinces. This type of power of attorney is sometimes called "durable power of attorney" or "springing power of attorney" which "springs" to life when a certain event, specified in the power of attorney, has taken place.
Alter ego trusts are trusts, created after 1999, where the settlor (the person who creates the trust) is the sole person who has a right to all the income of the trust each year. Further, no one but the settlor can have a right to the capital (assets) of the trust while he or she is alive. It’s possible to set up a “joint partner trust,” which is the same as an alter ego trust except that both partners (married or common law partners) have a right to the income of the trust annually, and no one but those two individuals has a right to the capital of the trust while either of them is still alive.