Wills
At Luk Law, we understand the importance of securing your assets and ensuring your loved ones are taken care of in the future. Whether it be a simple will or a complex one, our estate planning team will provide comprehensive will drafting services tailored to your unique needs and circumstances.
What is a Will?
A Will is a legal instrument that provides instructions for the administration and distribution of your assets following your passing. It explains your wishes about how your property and possessions should be taken care of, for example, how much money should be given to a specific person. As a part of your Will, you can designate whom you prefer to manage your estate after your death (your estate trustee or executor). A Will can also appoint one or more persons to have decision-making responsibility or guardianship for your children who are not yet adults.
What is in a Will?
Your Will should include the following:
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Details for how you want to distribute your assets. It allows you to select your heirs (beneficiaries) and what they will inherit from you.
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A designation for an Executor (or Trustee). It designates a person or persons that will administer your assets and carry out the wishes of your will after your death
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An outline of the powers of your Executor. It will authorize your Executor to make decisions and actions that will help them carry out your instructions.
A Will can also include funeral instructions, trust designations and guardianship preferences for your underaged children.
What if I don't have one?
If you die without a Will, the distribution of your assets will be determined by the default provisions in the Success Law Reform Act. The law will determine:
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Who is entitled to your estate
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How much they can receive
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Who can apply to the court to manage your estate
If you want control over the distribution of your estate, you will need to create a Will and update it from time to time.
Why choose us
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Expertise: Our team has extensive experience estate planning and drafting wills for clients across Ontario. We stay updated on the latest legal developments and ensure your will complies with all relevant laws and regulations.
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Personalized Approach: We recognize that every individual has different priorities and concerns when it comes to estate planning. Our team takes the time to understand your specific wishes and objectives, crafting a will that reflects your intentions and protects your assets.
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Peace of Mind: With our professional guidance, you can have confidence that your estate will be handled according to your wishes. We provide clear explanations and advice throughout the drafting process, giving you peace of mind knowing that your affairs are in order.
Our Wills services include:
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Initial Consultation: We begin by meeting with you to discuss your estate planning goals and gather relevant information about your assets, beneficiaries, and preferences.
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Will Drafting: Our team will draft a comprehensive will document that outlines how you wish your assets to be distributed upon your passing. We ensure that your will is legally sound and accurately reflects your wishes.
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Updates and Amendments: Life circumstances and priorities may change over time. We offer ongoing support to update and amend your will as needed, ensuring it remains up-to-date and reflects your current wishes.