It is a question we all ask ourselves from time to time: What will happen when I’m gone? The best place to start is with a valid will. A will does not need to be complicated. You may be surprised at how little it costs to have one drafted by a lawyer. There are advantages to having a lawyer draft your will for you. If certain strict legal requirements are not met, a will cannot be given effect. In other words, your estate will be handled as if you had died without a will and your estate will be divided according to pre-set guidelines defined by law. Only a lawyer can provide the necessary advice to minimize estate taxes, prevent wording subject to misinterpretation, and reduce the chances of challenges to a will by someone who feels left out.

There are other aspects to estate planning, and other important reasons for obtaining professional legal advice about estate planning. They include: reducing taxes while you are living, putting conditions on beneficiaries under your will to use certain sums for specific purposes (such as education or home care), and ensuring that your decisions are informed, well-planned and unhurried.

If you are involved in the administration of an estate, such as probate or acting as an executor, an experienced lawyer can provide assistance, guide you through the legal process and help prevent liability.

Cardinal Law’s Wills & Estates practice includes:

• will preparation
• estate planning
• wealth preservation
• challenges to wills
• estate administration
• tax-planned trusts