Wills and Estate Planning Law
A Will is a legal document that describes how you want your assets ("your estate") distributed after your death. The process leading to the eventual drafting of a Will for you is called "estate planning". The estate planning process and the preparation of a Will is for everyone and not just those with a lot of money or a lot of investments or assets. A person who dies without a Will (dies "intestate") will have his or her property (land, money, vehicle, personal belongings, etc.) distributed by law according to the Intestate Succession Act of Nova Scotia.
The estate planning process and the preparation of your Will also involves the selection and appointment of an Executor or Executrix. This a person you appoint to look after your estate and the distribution of your assets after your death. If you do not appoint an Executor in a Will then the Probate Act of Nova Scotia sets out a list of those (spouse, heirs, creditors, etc.) who can apply to take over the administration of your estate following your death.
The estate planning process also reviews your need for an enduring Power of Attorney, a legal document that allows an appointed person to act on behalf of someone who is unable to act due to absence, illness or some other infirmity. In addition, while not yet binding in Nova Scotia, the estate planning process can also consider a "living" Will. This is a document that appoints a person to make medical decisions for you at a time when you are unable to make those decisions for yourself.
In short, estate planning and Will preparation is important for everyone. The estate planning/Wills team at TMC LAW has many years of combined experience in providing estate planning advice and in drafting Wills, powers of attorney and "living Wills" for a broad range of clients. Our estate planning lawyers and Wills lawyers can work confidentially with you and, where appropriate, your accountant or financial advisor to provide you with a Will that will be simple and straight forward, if that is what you should have in your circumstances, or one that is more complex in order to take into account business and financial planning strategies.
Too often the estate planning process is put aside because we are uncomfortable discussing our eventual death and the distribution of our assets. It is always easier to put off these thoughts until a later date or when we get older or when we get sick. Unfortunately, that may be too late. Let our estate planning and Wills professionals help you to ensure that your assets are properly managed and distributed after your death. Call one of our estate planning lawyers or Wills lawyers to start this process now.