A Filipino Lawyer In Toronto Emphasizes The Importance Of Executing A Will

DO NOT DELAY – MAKING A WILL IS EASY AND YOUR LOVED ONES WILL BENEFIT FROM IT:

A will is a legal document that legally provides for your wishes with regards to the distribution of your property and any minor children’s care. When you die without a will, it is likely that those wishes may not be fulfilled.

In addition, after you’re gone, your heirs will be forced to expend extra time, money, and emotional strength to settle your estate, i.e., financial affairs.

Depending on the form, Wills will differ in their usefulness, but one has to understand that no will can likely resolve every problem that occurs after your death. Here are the essential aspects that you need to know about this document:

WHY DO YOU NEED A WILL?

Not having a will means that it is possible that your assets will not be allocated as you would have preferred them to be given. Perhaps worse, your kids could end up in a living environment that you would not have wanted for them. Without a clear and valid will, leaving your family and loved ones behind can cause them stress and worry, and more often than not, it could even lead to conflict.

WHY DO YOU NEED A WILL?

Not having a will means that it is possible that your assets will not be allocated as you would have preferred them to be given. Perhaps worse, your kids could end up in a living environment that you would not have wanted for them. Without a clear and valid will, leaving your family and loved ones behind can cause them stress and worry, and more often than not, it could even lead to conflict.

If you have minor children or grandchildren, it is important that you talk to a Filipino lawyer in Toronto about drafting your will, both for guardianship purposes and for securing their properties before they reach a certain age. If you have a vast estate or are divorced from a partner, you must also seek legal advice.

The following are considerations you make in drafting your will:

• Who gets your properties and assets, and how much;
• Who you want to exclude from getting your assets;
• Who should care for your children because in the absence of a valid will, the courts will rule upon this;
• Your estate/heirs can save your estate money on taxes, i.e., you can donate to charitable institutions thereby offsetting part of the estate tax payable.

Make sure your will is legally valid

There is no requirement to have your will printed or written on special paper or to use a lot of legal terminology.

A document is a will that is valid as long as:

• It provides how you wanted to divide your estate when you die;
• It was drafted and executed because you were able to decide and make your own choices and you were not placed unduly influenced nor coerced on who to leave your assets and properties to;
• In the presence of two independent witnesses, signed and dated by you and the two witnesses in your presence. It is important to note that the witnesses should not be people who can inherit anything from you or their spouse or partner.

A Will that is Written and Witnessed is the Best Form of Will

Create what is known as a testamentary will in order to increase the possibility that your assets will be distributed according to your wishes. This is the most familiar form of will: in the presence of witnesses, the document is in writing and then sign it. It is arguably the best protection after you die against successful threats to your wishes by family members or business associates. You can write one yourself, but get it written by a trust and estate attorney for more accuracy and ensured validity thereof.

Other Types of Inheritance Wills are as follows:

• Holographic wills
• Oral wills
• Mutual wills

In most cases, by talking to a lawyer about your will, you will take care of these problems for less than the price you might spend on a car repair or new furniture or appliances. Your loved ones will be grateful for your advance preparation, although the chances of an early, tragic end to your life are slim.

We have a Filipino lawyer at AJ LAW LLP Professional Corporation who can draft Wills for clients. We can assist you with the preparation of your Will. If you like to learn more, please call our Filipino Lawyer in Toronto and get in touch with our Angeles & de Jesus Law LLP team at 160 Eglinton Avenue East, Suite 406, Toronto, ON or via phone at +1 (416) 409-5991 or email us at info@ajlawpartners.ca for your FREE INITIAL CONSULTATION. You can also visit our website https://www.ajlawpartners.ca/ for more information about the services we offer.

If you have minor children or grandchildren, it is important that you talk to a Filipino lawyer in Toronto about drafting your will, both for guardianship purposes and for securing their properties before they reach a certain age. If you have a vast estate or are divorced from a partner, you must also seek legal advice.

The following are considerations you make in drafting your will:

• Who gets your properties and assets, and how much;
• Who you want to exclude from getting your assets;
• Who should care for your children because in the absence of a valid will, the courts will rule upon this;
• Your estate/heirs can save your estate money on taxes, i.e., you can donate to charitable institutions thereby offsetting part of the estate tax payable.

Make sure your will is legally valid

There is no requirement to have your will printed or written on special paper or to use a lot of legal terminology.

A document is a will that is valid as long as:

• It provides how you wanted to divide your estate when you die;
• It was drafted and executed because you were able to decide and make your own choices and you were not placed unduly influenced nor coerced on who to leave your assets and properties to;
• In the presence of two independent witnesses, signed and dated by you and the two witnesses in your presence. It is important to note that the witnesses should not be people who can inherit anything from you or their spouse or partner.

A Will that is Written and Witnessed is the Best Form of Will

Create what is known as a testamentary will in order to increase the possibility that your assets will be distributed according to your wishes. This is the most familiar form of will: in the presence of witnesses, the document is in writing and then sign it. It is arguably the best protection after you die against successful threats to your wishes by family members or business associates. You can write one yourself, but get it written by a trust and estate attorney for more accuracy and ensured validity thereof.

Other Types of Inheritance Wills are as follows:

• Holographic wills
• Oral wills
• Mutual wills

In most cases, by talking to a lawyer about your will, you will take care of these problems for less than the price you might spend on a car repair or a new furniture or appliances. Your loved ones will be grateful for your advance preparation, although the chances of an early, tragic end to your life are slim.

We have a Filipino lawyer at AJ LAW LLP Professional Corporation who can draft Wills for clients. We can assist you with the preparation of your Will. If you like to learn more, please call our Filipino Lawyer in Toronto and get in touch with our Angeles & de Jesus Law LLP team at 160 Eglinton Avenue East, Suite 406, Toronto, ON or via phone at +1 (416) 409-5991 or email us at info@ajlawpartners.ca for your FREE INITIAL CONSULTATION. You can also visit our website https://www.ajlawpartners.ca/ for more information about the services we offer.