A conscientious person makes sure not to leave his or her mess behind for others to clean up. Similarly, many men and women have a will to ensure the proper distribution of their estates with a minimum of fuss after they have passed on. Unfortunately, a poorly written will has the potential to cause more problems than it solves. For those just beginning their estate planning, or seeking to revise hastily made plans, here are some tips from the experts at a leading Canadian investment firm for dealing with wills and estates in Vaughan, GTA, York Region and beyond.
A discussion with loved ones about estate planning makes a logical starting point. Once everyone is on the same page, it may be much easier to create a will that meets as many wants and needs as possible. For those with blended families, this may be especially tricky; mixed families may have special requirements, necessitating more deliberation and consultation before the signing of the will.
Even a person of modest means may have a fairly complex set of assets. The experts suggest listing all of one's assets and liabilities to create a financial road map for the executor to follow. As to the executor, be sure to choose a person who is willing and able to perform the task with care and efficiency.
The final recommendation is to use professional assistance. Though some people choose to make their own wills, a lawyer is uniquely skilled and has the ability to work with a client in the creation of a solid legal document. A good lawyer can answer any questions about wills and estates a person in Vaughan, GTA and York Region may have.
Source: The Huffington Post, "5 Tips To Get Your Estate Plan In Order", Cindy Crean, April 5, 2017