Now that you got your Will drafted by a lawyer, you should create a list of all your assets and liabilities and store it along with the Will. You need to think about how your Executors or Trustees will find the location and value of your assets. See also: Do I need a will? Making it easy for your family Usually, after a person departs, that person’s family scrambles to locate all relevant documents, passwords, and keys. A detailed list of assets, access codes, passwords, the location of keys and documents can make it easy for a family to deal […]
Wills and Estate Planning
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Meenakshi Tewari Jham giving advice to entrepreneurs on business law and on wills and estate planning on the program “What’s going on in our community!” – a show by Vicky C. Read about five things to consider when drafting a will. Transcript of video: Vicky: Hello everyone, its Vicky Chiappari on “what’s going on in our community”. Today we are here with Meena Jham. Thank you Meena for being here today. Meena: Thank you Vicky for having me. Vicky: Thank you, it’s a pleasure. She’s a lawyer and she does business, commercial and intellectual property and she […]
Anyone who has a spouse, common-law partner, children or other family relationships, should consider leaving a will. You may also need a will if you have money in bank accounts, investment funds, ownership in property or any other assets. If you’re a private business owner, you may need a second will that covers your business income and assets. A will is a legal document that expresses your intentions on how your assets should be distributed and who should take care of your children or others who are dependent on you after you’ve departed. Your Will, Your Rules You can set […]
A Power of Attorney (referred to as”PoA”) is a legal document through which the grantor (person signing the power of attorney) can authorize someone else to act on his/her behalf. A PoA should be granted to someone you trust like your spouse, adult child, parent, sibling or close friend. The person who gets the power to do something on behalf of the grantor is called “the Attorney”. The Attorney must act with reasonable care when making decisions and must place the grantor’s interests before his/hers. There are different forms of PoA for Property in Ontario: General or Non-Continuing PoA; and […]
A will is a legal document that expresses your wishes regarding management and distribution of your assets and business after you’re gone. A properly planned and thoroughly drafted document can save a lot of time and money for your heirs. Although there are a number of things to consider when drafting the same, in this article I have highlighted five areas to watch for. Last Will and Testament: Most standard will-formats use the sentence ‘This document is my last will and testament and I revoke any and all wills and codicils I previously made’. This sentence may not be applicable […]