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Wills

** A reminder, however, that the following information is not considered legal advice and is general information only.  You should contact a lawyer registered to practice in your province to properly advise you. ***

Q: Why do I need a Last Will and Testament?

If you die without a Will you will have no say over: 
  • who is in charge of your estate while it is in probate, 
  • how your estate is distributed amongst your beneficiaries or 
  • who will be the guardian of your children

Someone, usually a spouse or an adult child, will have to apply to court to be named as your administrator.  This will result in additional legal expenses to be paid by your estate leaving less for your beneficiaries. Your estate will then be divided according to a formula set out in the Estate Administration Act which may not be how you want your estate divided.  

Finally, if you have infant children and no surviving spouse, someone will have to apply to court to be named guardian of your infant children resulting in delays at the worst possible time.

Q: What's the difference between a Will, Power of Attorney and a Representation Agreement?

Each document has a different purpose. We have created a .pdf file chart outlining the major differences.  You will need Adobe Acrobat to view the file.

Download Will, POA, Rep Agreemt chart.

Q: I already have a Will.  Do I need a new one?

You should review the provisions of your Will every year or two and certainly every five years to assure that the document is responsive to your requirements. We live in a changing world, and most particularly three areas of change could affect your Will.
  1. The value of your estate has changed
  2. Major events have happened.     Births, deaths, marriages, divorces, and financial ups and downs may change your choice of your beneficiaries, trustees and distribution of estate.
  3. Legislation affecting taxes, estates, probate fees, etc. has changed

Q: What do I need to bring to the initial Will appointment?

You don't need to bring anything to the appointment.  When you come, you will first meet with Tim Louis so that you can let him know what you would like to put into your Will.

We will go through a thorough checklist to take your personal information including:

  1. Your named Executor(s)
  2. Your named Guardian(s) for your children
  3. Your assets / debts 
    • Approximate value & bank addresses
  4. Names and phone numbers of:
    • Accountant
    • Financial Dealer
  5. Your distribution instructions (how and to who you want your money to go to)
  6. Legal names and addresses of everyone that you name in your Will
As we tell all of our Wills clients, not all of the information that you give will be written into your Will.  We take this information and keep it in the file to help your Executor(s), when the time comes, so that none of your assets are forgotten.

After we send you the draft Will and get your approval, you will need to come for a second appointment to sign your Will.  

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