Surrey BC Wills & Estates Lawyer
Estate planning documents are the most important documents you will ever sign in your life. Yet many people neglect to get even a basic will until it’s too late.
Consequently, their loved ones may face increased frustration, uncertainty, and cost in dealing with the estate. A properly made will can save your loved ones from this unnecessary frustration and cost.
BENEFITS OF CREATING A PROPER ESTATE PLAN
Even those with modest estates can benefit as a will grants increased control over the distribution of your assets and reduces the legal costs of distribution. This means that more of your money and assets will stay with your loved ones.
We buy insurance for our cars, our homes, our health, and our life; a proper estate plan is an insurance to protect the assets meant to go to our loved ones after our deaths. One size fits all will kits often create ambiguity and may result in your heirs having to apply to the court for guidance resulting in huge costs. They will likely not have access to any of the assets until the issues are resolved by the Court.
A will enables you to choose someone you know and trust to manage the distribution of your assets. It ensures that the right gift goes to the right person. A properly made will also provide for guardianship of any children. It allows for the maximum flexibility at the lowest cost for distribution of your estate.
In addition to a will, an estate plan should include at least a power of attorney and guardianship agreement. A power of attorney can protect you in the case of injury or illness by allowing your designated attorney to manage your finances and make decisions on your behalf.
This is helpful if you are in the hospital and need to transfer money or sign legal documents. The guardianship agreement allows your trusted representative to make medical decisions for you if you are unable to communicate your wishes in case of incapacity.
We advise clients on all aspects of estate planning matters including the preparation of wills, enduring powers of attorney, representation agreements, health care directives, and trusts. We also advise clients in probate and estate administration matters.
Sundeep Gill is our leading Surrey BC Wills & Estates lawyer at Patrola Law. Please contact him directly at firstname.lastname@example.org for any estate planning inquiries.