Wills & Estates
Your Trusted Wills & Estate Planning Lawyers
With Offices in Toronto, Peterborough, and OshawaYou’ve worked hard all your life to support yourself and your loved ones. You can not continue forever so you need to plan wisely to ensure your assets are protected and left to your dependents and the people of your choice as a lasting legacy.
Some people will benefit from having more than one will, especially people who own private business corporations. Miskin Law prepares wills and powers of attorney for individuals who live in the Province of Ontario. If you live in another jurisdiction or most of your assets are outside of Ontario, your will should be prepared by a lawyer in the other jurisdiction, as estate law has variations in each province. A will made in Ontario can deal with your assets that are in other jurisdictions.
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What to Expect at Your First Meeting
We draft the will after a first personal meeting with a lawyer and the client to assess a client’s situation and needs, in order to best meet the individual requirements and wishes of the client. The purpose of this first meeting is to simplify future estate issues to ensure a smooth transition of assets, which will reduce the need for future legal services, prevent disputes and challenges, and also plan for reducing taxes payable after death. We encourage clients to prepare wills that do not lead to family disputes which can ruin relationships, and cost a lot of money.
What Is a Will?
A will is a document that you can sign with your binding instructions as to who will receive your assets after your death. It names an estate trustee (formerly known as executor) whose responsibility after your death is to manage the estate in accordance with your wishes. You may also propose guardians for your underage children, and indicate preferred funeral arrangements in your will. We often prepare specialized wills for people who have children with disabilities or special needs. Until your death, the will may be revoked or changed so long as you are mentally competent. Minor changes can be done by codicils which cost less than a new will. Wills should be redone immediately on a marriage break-up. If you do not have a valid will, the law determines what happens to your estate without consideration of your preferences. This may be fine for many families where there are no common-law relationships. If you are living common law, or there are children of prior relationships involved, it would be wise to obtain legal advice immediately, because common law spouses do not inherit anything if you do not have a will.
Things to Consider
In preparing these documents we always have a lawyer meet with you for as long as necessary to advise you, and to take careful instructions to make sure the document prepared is what you want it to be. We generally bill and expect full or partial payment by cash or cheque at the first meeting. It is important to have a fully qualified and experienced lawyer discuss your intentions with you to ensure that the will is done properly. We do not believe it is sufficient to give instructions to a member of the lawyer’s staff in a meeting or by phone. It is important that the lawyer assess capacity issues at a meeting to reduce the chance of future disputes of wills. This is particularly true for people who are elderly, have mental health issues, or wish to make unusual bequests. We sometimes require clients to get a doctor’s note or an assessment on capacity ahead of signing a will. At a later meeting, the documents are signed in accordance with Ontario legal requirements with the lawyer present to oversee, explain the document and discuss any last-minute changes. In cases of complicated wills with unusual provisions or special requirements due to personal circumstances, we may charge extra. We will let you know and decide how to proceed at our no-cost/no-obligation meeting, in advance of actual will preparation.
Fee Structure
The below fees are discounted when multiple documents are prepared. Clients may pay the fee on a first meeting to discuss wills and then the documents are reviewed and signed, on a second visit. Most clients pay on the day they sign their documents. We do accept debit but not credit cards and you may also pay by cash, cheque or e-transfer. We usually store the original signed will and give clients 2 copies. For powers of attorney, we usually make 3 originals; the client keeps 2 and we hold the 3rd. Our usual fees (including basic planning for the estate and including disbursements) are set out below with 13% HST added to any fee:
Wills
- One will: $400
- A pair of wills: $600
Power of Attorney
- One document of each type: $200
- A pair of each type: $300
Codicils (Will Changes)
- One will change: $150
- A pair of will changes: $250
Obtaining Probate of Estates
- Estates up to $150,000: $2,000
- Estates over $150,000: $3,000
Power of Attorney for Property
A Power of Attorney for Property is a document you can sign which gives power only in your life over your assets to another person whom you may designate. That authority may be set up to be effective any time, or only if you become incapacitated. It may also be restricted to dealing with or not dealing with certain matters. You may have more than one person designated, so both, or either may sign for you. You may name alternates and specify whether the attorney has a right to be paid for what they do. It does not take away your own rights to sign on your own behalf. A power of attorney is a critical document to have, should you ever become totally incapacitated or suffer a loss of mental competence. A power of attorney expires on your death.
Power of Attorney for Personal Care
A Power of Attorney for Property is a document you can sign which gives power only in your life over your assets to another person whom you may designate. That authority may be set up to be effective any time, or only if you become incapacitated. It may also be restricted to dealing with or not dealing with certain matters. You may have more than one person designated, so both, or either may sign for you. You may name alternates and specify whether the attorney has a right to be paid for what they do. It does not take away your own rights to sign on your own behalf. A power of attorney is a critical document to have, should you ever become totally incapacitated or suffer a loss of mental competence. A power of attorney expires on your death.
Personalized Estate Planning
Some clients require personalized estate planning for their special situations. We may recommend that you establish trust to deal with your situation. We may refer you to accountants or other experts to help with planning. This will cost extra but probably save later costs in taxes paid by the estate and provide more structured plans for your family and future generations to preserve wealth. We can assist you with up-to-date information about recent changes in tax structures. We strongly encourage you to get your will and estate completed soon. You never know when it is going to be needed, and you do not want to risk wasting your hard-earned money on unnecessary legal costs and taxes or have your assets held up in otherwise avoidable delays. To make an appointment for will and estate planning, please give us a call. The first meeting is free and there is no obligation.
About Murray Miskin
Murray Miskin is the managing partner of Miskin Law Professional Corporation and a leading lawyer in wills and estates. For decades, he has helped thousands of people organize and manage their affairs, ensuring prepared futures.
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Peterborough: 705-755-7363 ext. 111
Toll Free: 877-428-8000 ext. 111
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