Toronto Wills & Estates

“I don’t need estate planning because I don’t have an estate” is a common misconception. You likely have more to protect than you think you have. If you own personal property (i.e. a diamond ring, a car), or real property (condo, house, physical), have a child (or two), own a business, have a spouse or common law spouse, a will may be vital to protect your precious assets.

If you do not have a will, the law establishes one for you through the Succession Law Reform Act which dictates how assets are distributed. Generally speaking, where no will exists, the law sets out the following distribution:

• if you have a spouse and one child, then a predetermined sum goes to your spouse and the remainder is divided - ½ goes to your spouse and ½ goes to your child;
• if you have a spouse and more than one child, then a predetermined sum goes to your spouse, and 1/3 of the remainder goes to your spouse with the remaining 2/3 divided equally between the children; and so on…

If you do have a will, there is a good chance that it needs updating. If you have had a change in circumstances, we can take care of that as well!

Here at Gobran Law, we take the time to explain the will and powers of attorney drafting process and answer any questions that you may have. We understand that thinking about death while you’re still alive seems to be a daunting process but what’s even more daunting is leaving loved ones to make monetary decisions about your estate in their time of grief.

The small amount that you pay for a will helps your loved one avoid a potential large sum of money to be paid later for court and/or legal fees. Contact us to set up an appointment. We would be happy to help.