76 Algoma St N.
Thunder Bay, ON P7A 4Z4
P (807) 344-9191
F (807) 345-8391
TF 1-807-465-3988
E info@petronelaw.ca
www.petronelaw.ca
Wills and Estate Planning
Nobody likes to make plans for death. But at the same time, nobody wants to leave their family with unanswered questions about their intentions – or worse, money being lost or tied up in court because your intentions were not clear. If you have dependent children, it's even more important to have a solid plan written into your will to ensure they're taken care of.
Petrone & Partners can help make the process easier, and ensure your intentions are crystal clear. We've helped people in many different situations create legal documents that spell out what part of your estate goes where. We will help you draw up your:
- Will
- Power of Attorney for Property (which allows someone else to manage your property and make financial decisions on your behalf while you are still alive but incapable of doing so)
- Power of Attorney for Personal Care (which allows someone else to make healthcare decisions on your behalf while you are alive but incapable of doing so)
- Trusts (which holds property and assets on behalf of the beneficiary)
- Estate administration and accounting
- Other legal documents as needed
A Will is a Plan for Sharing Your Estate
Simply stated, a will is a plan for sharing your estate after you have passed on. But the importance of your will is much larger than that. Without a will, the government will decide how to divide your estate. You may assume that your spouse will automatically inherit your estate, but that's not always the case. If the court decides some assets will be held in trust for your children, for example, your spouse will be left with the hassle – and the court costs – of accessing that money to care for them.
Your will must:
- Clearly state your wishes
- Be verifiable (questionable wills may be ignored, while wills drawn up by legal representation hold the most weight)
- Clearly state an executor to handle paperwork, file taxes, etc.
Your will may also include:
- Named guardians for dependent children
- State certain conditions for inheritance, such as age
- Instructions about burial and funeral
- Instructions about assets left to charity
- Other items that will help your family understand your intentions
At Petrone & Partners, we understand that creating your will is a personal thing. We will help you weigh your options and write your intentions in a clear and legally binding way to ensure your wishes are carried out.
After all, your family will have plenty of things to worry about. Sorting out your will should not be one of them. Call Petrone today and let's make it easier for them.
