Estate Planning Lawyers in Peterborough, Ontario
Estate planning is about much more than just creating a will or trust. While it involves choosing who will own and manage your assets after death, it can also encompass who will make decisions for you if you’re mentally incompetent. A complete estate plan can include a will, trusts, Powers of Attorney, life insurance, charitable giving, tax planning, arrangements for children and more. At Miskin Law Professional Corporation our experienced lawyers offer trusted estate planning in Peterborough, Ontario.
Power of Attorney for Property and Personal Care
A Power of Attorney for Property is a legal document that assigns a person to act on your behalf while you are alive to make decisions about your finances if and when you cannot act for yourself due to mental incapacity. The person who is named as an attorney does not have to be a lawyer. A Power of Attorney for Personal Care is a legal document that gives a person the authority to make personal care decisions for you if you become mentally incapable. Personal care decisions include decisions about health care, nutrition, shelter, clothing, hygiene, etc.
Living Wills and Advance Directives
A Living Will, also known as an Advance Care Directive, is a document that expresses your healthcare preferences and instructions if you are unable or unwilling to communicate them yourself. A Living Will could cover various medical situations, such as incapacitation due to a medical condition, severe injury, or end-of-life care. While not legally binding in Ontario, a Living Will can provide invaluable guidance to your loved ones and healthcare providers, ensuring that your wishes are understood and respected. The lawyers at Miskin Law can inform you of the benefits of incorporating a Living Will into your estate plan.
Can I Do Estate Planning Myself?
Estate planning is often overlooked or delayed. However, it’s a crucial part of financial planning and should be done with the help of professionals. At Miskin Law, our lawyers can help guide you through the intricacies of estate planning to ensure the proper management and distribution of your assets after you pass on.
Obtaining Probate of Estates
After you die, the lawyers at Miskin Law can assist with an application to the court for probate, the process whereby the court confirms the estate trustee’s authority to act and formally approves the will as the last valid will and testament. If the estate is valued at up to $150,000, the trustee would apply for a Small Estate Certificate. If the estate is valued at more than $150,000, the trustee would apply for a Certificate of Appointment of Estate Trustee.
Why Contacting a Lawyer Is in Your Best Interest
The Miskin Law team consists of estate law experts here to help you with estate planning. We understand estate planning is much more than a simple will. It can help ease the burden of your loved ones and ensure your wishes are fulfilled. It’s critical to start estate planning as soon as possible. We are always here for you when you need to update major life changes and provide legal guidance. Consult with us today for a consultation in Peterborough, Ontario. The first meeting is free and there is no obligation.