A Will is a document that you can sign with your binding instructions as to who will receive your assets after your death. It names an Estate Trustee (formerly known as Executor) whose responsibility after your death is to manage the estate in accordance with your wishes. You may also propose guardians for your children and indicate preferred funeral arrangements in your will. Until your death the will may be revoked or changed so long as you are mentally competent. Minor changes can be done by Codicils which cost less than a new will. If you do not have a valid will the law determines what happens to your estate without consideration of your preferences.  This may be fine for many families where there are no common law relationships.  If you are living common law or there are children of prior relationships involved it would be wise to obtain legal advice immediately.

A Power of Attorney for property is a document you can sign which gives power only in your lifetime over your assets to another person whom you may designate. That authority may be set up to be effective any time or only if you become incapacitated. It may be restricted to dealing with or not dealing with certain matters. You may have more than one person designated so both or either may sign for you. You may name alternates and specify whether the attorney has a right to be paid for what they do. It does not take away your own rights to sign on your own behalf.   A Power of Attorney is a critical document to have should you ever become totally incapacitated or suffer a loss of mental competence.  A Power of Attorney expires on your death.

You may also sign a separate  Power of Attorney for Personal Care where you authorize another person  (again with an alternate) to make health care choices for you when you are unable to do so yourself. This is sometimes called a Living Will. In it you may state your preferences on treatment issues and life support questions.  Many people who want these documents prepared have strong opinions on the possible choices their doctors and family members will have should they become sick to the point where they may have no hope of recovery and may become a burden on others.  Some people do not want their next of kin to decide what to do but instead they may have  a close friend they wish to involve in decisions.  You may also name a doctor or type of doctor you wish to have assess you and give advice when critical decisions must be made.

We strongly emphasize the need to use a lawyer to prepare any of the above document to ensure it is valid and does what you want it to do.  Cheap Will and Power Attorney kits are available but pose a serious danger, in that, what you prepare will be invalid unless properly done following strict legal requirements.   For the money you save doing it by yourself it is not worth the risk.  In preparing these documents we always have a lawyer meet with you for as long as necessary to advise you and take careful instructions to make sure the document prepared is what you want it to be and is signed in accordance with Ontario legal requirements.  In cases of complicated wills with unusual provisions or special requirements due to personal circumstances we may charge extra and we will let you know at our no cost or obligation meeting in advance of actual will preparation.

Our current usual fees (including basic planning for the estate and including disbursements) are set out below with 5% GST to be added to any fee:

Wills: one will $200, a pair for $300
Codicils: fee for one is $100, $150 for a pair
Power of Attorney: one of each type is $150, two are $200

The above fees are discounted when multiple documents are prepared. We understand our fees for wills are much less than those of most lawyers and plan an increase in our fees for wills starting September 2, 2008. Get your Will this summer if you can.

Some clients require personalized estate planning for their special situations.  This will cost a little extra but probably save a great deal of later costs in taxes paid by the estate and provide more structured plans for future generations to preserve wealth.  We can assist you with up to date information about recent changes in tax structures.  Please call and make an appointment for Estate Planning.  The first meeting is free and with no obligation.