Avoid Costly Mistakes: The Essential Role of Lawyer-Prepared Wills for Ontario Families

Since the pandemic, more people have been concerned about securing their family’s future with wills. But do-it-yourself wills or online will websites may not be the best way to secure your family’s future.

In my blog, 5 Reasons You Need a Professionally Prepared Will, I highlight reasons why those with family or cognitive issues, special assets or needs, should have confidential help from an estate lawyer to prepare their wills.

From my experience, estate planning is complex. You must know family, estate, property and tax laws to be able to reduce Ontario’s provincial Estate Administration Tax and income tax consequences that only arise when someone dies.

Not All Lawyers are Equal

But be careful; not all lawyers are able to craft wills that will take into consideration all these areas of the law. You may not want to have a lawyer who only dabbles in wills to prepare your estate plan.

If you are going to make an investment for your family’s future, do your homework. Invest in lawyers who can deal with your legal duties and business needs. They can advise you about how to avoid costly mistakes and reduce taxes when someone dies.

I hear you say that investing in an estate lawyer to draft your will is too expensive. I won’t argue with you. You should, however, be able to find a lawyer in your price range to help you with your will and estate planning to save taxes.

Having a lawyer prepare your will and estate plan is not cheap, but is it a good investment? Absolutely, especially when you realize the costs of preparing wills spread over five years or more are only pennies a day.

Avoid Costly Will Mistakes

Having a lawyer-prepared will can help you avoid disputes because you have chosen the right estate executor. If you can also avoid court battles over what your intentions were, then you are wise to invest in a lawyer-prepared will and estate plan. If you don’t have the budget for this investment, consider doing your planning in stages.

How to Get Started

I offer you a $375 meeting to discuss your options for an estate plan and will. Take advantage of this meeting by Zoom or in-person in my Toronto west end office.

Arrange your meeting here. I will provide you with an estate planning guide that you can bring to your meeting to discuss your options.

You have nothing to fear making this investment to protect those you leave behind. If you have minor children, you need to name persons to have decision-making responsibility.

Want a meeting to discuss your estate plan and will? Want to make your will but not sure what’s involved? I can help you. Contact me for a meeting.

I can give you expert tips to end your worries.