There are numerous important reasons why it is essential to prepare a will.
Having a will protects your family, ensures that your wishes are followed and preserves your legacy. Even if you don’t believe that your assets are of substantial value, preparing a will means you can arrange your affairs in advance, in order to suit your wishes and the needs of your family. If you die without a will – what is commonly referred to as dying “intestate” – your Estate is automatically distributed according to the laws of the Province of residence and, in certain circumstances, the laws of other jurisdictions where your assets are located.
The lawyers at Merovitz Potechin LLP are here to help guide you through the process of creating a will so you know what to expect and your best interests are protected.
Here are the top 11 reasons to make a will:
1. You choose who will have care and custody of your children.
2. You choose who will benefit from your estate.
3. You choose how much each beneficiary will receive.
4. You choose what specific asset a beneficiary will receive.
5. You choose at what age your children can take control of their gifts.
6. You choose who will administer your estate.
7. You choose whether the estate trustee will be restricted in their ability to invest.
8. You can minimize the income tax consequences on death.
9. You can minimize the estate administration tax.
10. You can minimize the effect of Family Law Act on your beneficiaries if separation occurs.
11. You can reduce the stress and conflict that may arise among loved ones after you die.
Planning for the future can be difficult, but it is the best way to protect yourself and your loved ones. Our Wills and Estates team can help you learn how your choices will impact the future and create a plan that works for you and your family. For more information, visit our dedicated Wills page and contact one of our Wills and Estates lawyers.
Buying a New Home?
There are so many factors that go into purchasing a home. What can I afford or even, can I afford the home I love? Condo or detached? Open or closed mortgage? What other considerations are there? How do I know I’m getting the right answer when there are so many questions? One of the best ways to ensure that you are protected throughout your purchase is by hiring the right professionals. Here are some professionals you need to consider: Read More>>
Selling Your Home?
Spring is when many people think about purchasing a home. This is one of the best times to put your home on the market. There are many things a seller can do to ensure that their sale goes smoothly for the best possible price.
1. Get your home ready:
Get rid of the clutter. Clean up and tidy up; wash off those sticky fingerprints, wash the windows, and get rid of those boxes sitting in the corner. Often, the painting will make a big difference in how a room looks. Ask your real estate agent to give you pointers as to where you can put your effort for the best return. Read More>>
Address: 1758 McAra St, Regina, SK. S4N 6LN