Wills & Estates Lawyer Toronto
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Wills & Estates Lawyer Toronto
At Insight Law, we recognize the significance of making the process of developing your Last Will and Testament as smooth and stress-free as possible. We highly recommend that all individuals, particularly those with dependents and assets, take proactive measures to protect their estate. Our Toronto Will Lawyer will meet with you to gather your instructions, prepare a draft will for your review and meet with you to executive your will.
We are conveniently located in midtown Toronto, minutes from the Eglinton-Yonge station. Call us 647-300-8391 or click button above to book a FREE consultation.
Why Have a Will?
Creating a will can simplify the process for your loved ones after your passing. It also prevents conflicts and ensures your final wishes are carried out. Here are some of the key reasons why you might consider having a will:
Distribution of Assets: A will determine how your assets are distributed after death. You can specify gifts and establish a trust for your children’s inheritance.
Contingency Plans: Consider including contingency plans in your Will if a beneficiary predeceases you or cannot receive their inheritance. For example, if one of your children dies before you, you can specify in your Will that their share should be divided equally among their children.
Naming an Executor: A Will allows you to name an executor. An Executor is the person who will administer your estate and carry out your wishes in accordance with your instructions in the Will. This can help avoid potential disagreements or disputes among family members or other interested parties.
Providing for Dependants/Minor Beneficiaries: Although it is a point that anybody would ever want to think about, it is one of the most important decisions you must make. If you have minor children or dependents, a Will can outline who should care for them and how they will be financially provided. Therefore, you can ensure that they are cared for as you wish.
Potential Conflict: If you do not have a Will, disagreements, and disputes among family members on the distribution of your assets or the care of your children might arise. This might create emotional stress and hardship for your loved ones.
Preparing Your Will
Creating a will is crucial for anyone over 18, regardless of wealth or health status. It allows you to specify how your assets should be distributed after your death and can save time for loved ones. We offer consultation services with a Toronto Will Lawyer to create a personalized estate plan that meets your needs and considers important factors such as family dynamics. It’s also worth considering completing an Enduring Power of Attorney and Personal Directive to empower loved ones to make decisions on your behalf in the event of incapacity.
Simplified Process
Contact Us
Fill out our form here and tell us what you are looking for.
Introduction with Lawyer
Our Lawyer will explain the process and send a questionnaire in order to draft your Will.
Review Drafts
Drafts will be ready within 2-3 weeks, and the Lawyer will review them with you to answer any questions or changes requested.
Document Execution
Our Lawyer will review the Will and if acceptable, the Will is signed and executed.
Wills & Estates Price List
Will
Single Person-
Flat Fee
-
One Primary Will
-
Initial Consultation
-
Drafting Will
-
Review of Will
-
Execution of Will
Power of Attorney (POA)
Single Person-
Flat Fee
-
POA for Property or Personal Care
-
Initial Consultation
-
Drafting your Power of Attorney
-
Review of Power of Attorney
-
Execution of Power of Attorney
All Inclusive Will & POA
Single Person-
Flat Fee
-
One Primary Will
-
Power of Attorney for Property
-
Power of Attorney for Personal Care
-
Initial Consultation
-
Drafting of Will & POA
-
Review of Will & POA
-
Execution of Will & POA
Will
Couple-
Flat Fee
-
Two Primary Wills
-
Initial Consultation
-
Drafting Will
-
Review of Will
-
Execution of Will
Power of Attorney (POA)
Couple-
Flat Fee
-
POA for Property or Personal Care
-
Initial Consultation
-
Drafting your Power of Attorney
-
Review of Power of Attorney
-
Execution of Power of Attorney
All Inclusive Will & POA
Couple-
Flat Fee
-
Two Primary Wills
-
Power of Attorney for Property
-
Power of Attorney for Personal Care
-
Initial Consultation
-
Drafting of Will & POA
-
Review of Will & POA
-
Execution of Will & POA
*Disclaimer: Please note that the prices above does not include estate or tax planning. The Will prices are based on one primary Will for Single Person and two primary Wills for Couple. Additional complexities and special circumstances may be subject to additional fees.
WHAT MAKES OUR FIRM DIFFERENT
Why Choose Insight Law Professional Corporation
Professional
We're dedicated to providing friendly and knowledgeable service to ensure a positive experience for all our clients and achieve the best possible results in every case.
Client Focused
We prioritize client satisfaction and take a personalized approach. By attentively listening to our clients, we develop tailored solutions to meet their unique requirements.
Transparent
Our fixed prices and hourly rates are visible upfront. Most of our add-ons are fixed line items. Because honesty is the best policy, saving time on both sides.
Flexible
We understand that our clients may be busy and may not be available during normal working hours. We are happy to work with you to find a time that suits your needs.
WHAT PEOPLE SAY
Client Testimonials
Wills & Estates Frequently Asked Questions
A Will is a legal document that outlines your directions and desires for how your estate should be managed and divided after you pass away. Having a Will is crucial as it records your wishes and ensures that your assets, including your home, property, vehicle, stocks, bank accounts, and insurance policies, are distributed according to your preferences. Any individual who is eighteen (18) years or older and of sound mind can create a Will, and the person who creates the Will is referred to as the "Testator."
If you die without a will, you considered to have died “intestate”. In that case, the Courts apply the legal procedure that is stipulated by provincial laws on intestacy and determine your beneficiaries and the distribution of your assets accordingly.
Without a Will, you do not get to choose who manages your estate and who will be the guardian of your minor children. Any of your family members may apply to the court for letters of administration, granting them the authority as the Executor of your estate. As a result, they will be legally empowered to manage your estate at their own discretion.
Starting from January 1, 2022, a new law has been implemented which, among various other modifications, stipulates that marriage can no longer be used as a reason to revoke existing wills.
Beneficiaries are individuals who will inherit your assets, typically including your spouse or de facto partner and children. The distribution of assets can be tailored to your preferences. You could divide the assets into equal portions. Specific gifts, such as jewelry, a house, or a car, can also be given to particular beneficiaries. Additionally, trusts can be established for children or step-children, which can be accessed once they reach a specific age.
Yes, you can change your will at as long as your mentally capable to do so by executing a new will or by making a codicil (an amendment) to your existing will.
Find out more and read our post Will in Ontario.
Executor is the person appointed in a will to manage the estate of the deceased person. Choosing an executor with knowledge of legal and financial matters is crucial to ensure proper administration of your estate. They have various duties and responsibilities such as paying the taxes and debts of your estate, notifying financial institutions, arranging the funeral etc.
You can write your own holograph will however your will must meet certain requirements to be legally valid. Having a will drafted by a lawyer increases the chances of it being clear and easily comprehensible to your loved ones, while covering all necessary details to fulfill your objectives. A will that is inadequately prepared or drafted can lead to costly legal fees, court expenses, and probate delays.
In certain situations, you might consider having multiple wills. Multiple wills are mostly seen where the estate has business assets or property located in a foreign country. It is important to remember that in this type of a situation, one will does not override or revoke the other.
A will takes effect the moment you pass away. It is important to note that until your death, your executor does not have the authority to carry out any duties outlined in your will. Similarly, your beneficiaries are not entitled to access their inheritance until after your death.
In Ontario, any individual who is 18 years or older and has testamentary capacity can create a will. If an individual lacks testamentary capacity while making their will, the will would not be legally valid.
You might want to consider an alternative executor for your estate in case your first choice is not able to act for you. (In case your executor dies before you or becomes ill)
You can also appoint multiple individuals as your executors to act on your behalf simultaneously.
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