Wills and Estates
Wills and powers of attorney play an important role in estate planning. These tools allow for individuals to plan how their affairs will be managed both during their lifetime and after their death.
If an individual passes away without a valid will, their estate will be administered in accordance with applicable legislation, including the Ontario Succession Law Reform Act. To ensure your estate is managed and distributed according to your wishes, it is important to have a valid and updated will.
It is also important for individuals to contemplate how decisions will be made on their behalf in the event they are unable to manage their own affairs. A power of attorney is a legal document granting one or more individuals the right to act on another individual's behalf. There are two types of powers of attorney:
- Power of Attorney for Property: A Power of Attorney for Property is a legal document in which one person (grantor) authorizes another person or persons (attorney) to make any decision on the grantor’s behalf, which the grantor themselves could make, in respect of the grantor’s property. The attorney is thereby authorized to make decisions related to the grantor’s financial affairs and real estate, and may sign documents on the grantor’s behalf.
- Power of Attorney for Personal Care: A Power of Attorney for Personal Care is a legal document in which one person (grantor) may authorize a person or persons (attorney) to make, on the grantor’s behalf, decisions concerning the grantor’s personal care in the event they become mentally incapable. The attorney is thereby authorized to make decisions concerning the grantor’s care, including the medical treatment they receive.
Shapiro Real Estate and Business Lawyers has experience and expertise in drafting wills, Powers of Attorney for Property and Powers of Attorney for Personal Care.
Call us today at 416-224-0808 to find out more about our Wills and Estates services.
