Wills & Power of Attorney:
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Executors:
The executors responsibility is to carry out the wishes of the deceased. Spouses typically appoint each other as an alternate person in case their spouse has predeceased them.
Personal Property:
Includes all property other than real estate. Typically it is devised to your spouse and, alternately, to your children. If you want a specific item to go to a specific person then you must detail that wish in your will.
Devise of Estate:
Includes all property which is not personal property. It is typically devised to spouse and, alternately, to your children. You must put an age restriction on when children get your estate. I require names and addresses of all executors and beneficiaries of your will. Full financial disclosure is recommended to allow me to understand your particular situation and to provide you with the best advice possible.
Guardians:
Are a person or persons who look after your child after you have died and while your child is under the age of eighteen. Your choice is reviewed by the court after your death and can be changed by the court if they believe your choice was not a wise one, taking into account the well being of the child. It is best that the guardian and trustee/executor be a different person to avoid a conflict of interest.
Buried or Cremated:
Whether you want to be buried or cremated.
POWERS OF ATTORNEY
There are now two powers of attorney in the Province of Ontario. One for property and one for personal care. Spouses typically appoint each other and another person to act jointly as attorney. You should also name an alternate person so that if either of the above attorney's are unable to act on your behalf the alternate can be the substitute. The names and addresses of all attorneys would be required. |
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