Exercise Your Will Power to Protect Your Loved Ones – Part 1

You’ve worked hard all your life to provide the very best for your family, friends and community. How do you ensure this will continue? The answer is simple; through a legal document – your will.

Here are some things to consider:

Be Responsible

The time and cost of a lawyer-prepared will is small compared with its benefits. A will avoids uncertainty, which can lead to arguments among beneficiaries, delaying settlement of your estate and increasing costs. You’ll also have peace of mind, knowing your affairs are in order and your beneficiaries will not have to deal with the courts to settle your affairs while they are grieving.

Put Loved Ones First

It’s possible that you and your partner could die together. Only by appointing a decision-maker/guardian for minor children in a will can you specify who will care for your minor children.

Your Good Intentions

If you do not make a will your good intentions to provide of your friends, charities, religious institutions or relatives mean nothing. The law dictates exactly how your stuff is divided among your family. Wills ensure your legally binding wishes are carried out.

Tax Savings

Canada has no estate or inheritance taxes but death triggers federal income taxes. A proper estate plan can minimize taxes now and for your beneficiaries. Why not plan to pay less provincial and federal income taxes?

Support a Charity

A bequest to your favorite charity continues your support and can reduce your taxes. This leaves more for your loved ones.

Stay tuned for Part 2 of this post, coming soon.

Do you have a will? If you don’t, don’t wait. Book a meeting today to discuss your options to protect your family and reduce taxes. If you may benefit from a second opinion, let me help you today. Set up an initial meeting to discuss your options.

As a Certified Specialist, estate law is all I do.

Posted In: Estates, Wills On: October 31st, 2024

“I want to thank Ed and his firm for getting me through a very difficult time. He was recommended to me by another lawyer and I am grateful for that recommendation. Ed kept me grounded, listened to me, counseled me and supported me. I do so appreciate that. And he is worth every penny. Thank you!” - Claudia R, Toronto

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“Ed is a "straight shooter" who tells it like it is and helps you make the best possible decisions in your circumstances. I've personally seen the "magic" he can work in an estate and recommend him without reservation to anyone who wants an iron clad will or estate advice and management that saves money, frayed nerves and friendships.” - Jim R, Burlington

I have used Edward Olkovich for my own Will and I was the executor of my Brother-in-law’s will. My brother-in-law had a terminal illness and Edward had us devise his Will to minimize taxes and problems. Ed is located locally @ Jane and Bloor. He was very knowledgeable, friendly and thorough and has written many books on the subject. - Belinda M, Toronto

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Dear Ed, Thank you for all your wisdom and kindness throughout the process of settling Ann’s Estate. - Cheryl, Toronto

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