Estate Planning

When people think of Estate Planning, they often think only of writing a will. However, that is simply one part of a good Estate Plan. Thorough Estate Planning should also address many vital decisions to be made when you are not able to do so yourself. The Covid 19 Pandemic in particular revealed how vital a comprehensive Estate Plan can be to you and your family to avoid uncertainty in already stressful times.

Estate Planning includes:

Wills

Powers of Attorney

Trusts

Estate Agreements

While a good Estate Plan is beneficial for everyone,
it may be particularly important if:

  • You are a blended family whereby one or both spouses has a child or children from a prior relationship;
  • You do not have a spouse, or you and your spouse are not legally married;
  • You do not have children or close sibling relationships;
  • Your family or close friends live outside the Province of Ontario;
  • You have lost touch with your family or would not want them to make decisions on your behalf for any reason;
  • You or your spouse are experiencing aging related health issues such as dementia or severe loss of mobility; or
  • One or more of your children suffers from a disability for which they may be relying on Ontario‚Äôs Disability Support Program or similar support programs in other provinces.
A complete Estate Plan should also include a Continuing Power of Attorney for Property and a Power of Attorney for Personal Care

A complete Estate Plan should also include a Continuing Power of Attorney for Property and a Power of Attorney for Personal Care.

A Continuing Power of Attorney for Property governs what will happen with your things and your finances in the event you cannot provide meaningful direction yourself, either because you are incapable or because you are unavailable to do so. This might include if you are traveling out of the country, working remotely, or if you are medically unable to make decisions.

Alternatively, a Power of Attorney for Personal Care may only be utilized when you no longer have capacity, either temporarily or for longer periods, and governs the care of yourself. This may include what kind of medical treatment you will receive, where you live and what kinds of foods and activities are arranged for you.

What can be included in an Estate Plan

What can be included in an Estate Plan?

In some situations an Estate Plan may also include multiple Wills, trust arrangements or separate contractual agreements between you and your spouse. These situations are particularly fact specific and we encourage you to discuss such needs with your lawyer in detail.

Open discussion with your lawyer is a key part of any good Estate Planning meeting. We recommend our clients come prepared to discuss their family structure, assets, debts and the differing needs and relationships within their family. Estate planning relies on openness and trust and we at W&P Law strive to create that relationship with each of our clients to ensure that their needs can be addressed in a holistic manner.

We know that Estate Planning is fundamental to protecting you and your finances. To make your matter more predictable and affordable, we offer standardized fees and discounted packages for many Estate Plans. We are also prepared to meet our clients when and where they are in an effort to provide the services they need no matter the circumstance.

To make your matter more predictable and affordable, we offer standardized fees and discounted packages for many Estate Plans.