Hilborn & Konduros Law Firm in Cambridge, Ontario are experienced at understanding and working with the many little known rules, regulations and laws governing your assets even after you die.
Despite its importance, an alarming 49 per cent of Canadians do not have a will.
A Will is where you leave instructions on how to distribute all your property. With proper planning you can save on taxes and probate fees for those you have named in your Will. You can also name guardians for your minor children.
If you die without a Will, your assets will be divided among your relatives in accordance with the Estate Administration Act and the estate will be tied up in the courts until everything is sorted out. To insure that your wishes are carried out in a timely manner, you should always complete a Will.
In planning a will, think about whom you want as an executor. It should be someone you trust completely and who is capable of handling financial matters prudently. You may choose two or more executors, depending on how complex the estate is, and how much you trust them.
Not everything you own becomes part of your estate. Life insurance proceeds may be paid directly to a beneficiary named in the policy. If you have houses, properties, bank accounts or other assets in joint tenancy, they will automatically pass to the other owner(s) who survive you.
At Hilborn & Konduros Law Firm we offer estate planning, the preparation of Wills, powers of attorney and representation agreements, advice on taxation and tax planning, and the development of trusts, administration and probating of estates.
To book your free consultation please contact us at (519) 658-6341 or visit our comprehensive website at http://hilbornandkonduros.ca to learn more. Our office is located at 39 Queen Street West in Cambridge, Ontario.