Wills and Estate Planning

Executors:
The executor's responsibility is to carry out the wishes of the deceased.

Devise of Personal Property:
The devise of personal property including all property other than real estate.

Devise of Estate:
A devise of estate includes all property which is not personal property such as real property, cash, stocks and/or GICs and bonds.

Appointing Guardians:
A guardian is one or more persons who care for your child/children in the case you are no longer able. Guardians and trustee/executors should be separate to avoid a conflict of interest.

Buried or Cremated:
You may determine whether you want to be buried or cremated.

Powers of Attorney:
There are now two powers of attorney in the Province of Ontario, one for property and one for personal care.

Probating A Will:
Probate is essentially the recognition by the court of the validity of the will and the appointment of the person named in the will as the executor.

Probate Fees:
The probate fee is paid to the provincial government when an executor or administrator of an estate of a deceased person seeks to submit a will to probate or obtain approval to administer an estate where there is no will or no executor named in the will.

Inter Vivos Trusts:
A trust is a method of holding property where the legal and beneficial ownership of the property are separate. A trustee owns the legal title to the trust property, but the beneficiary receives all benefits.

Joint Accounts with Right of Survivorship:
Property such as a home registered between joint tenants or a bank account that is jointly held will pass outside the estate of the deceased joint owner and vest in the surviving joint owner.

Stephen A. Holmes
Barrister & Solicitor
M.B.A. / LL.B

180 Queen St. W.
2nd floor
Brampton, Ontario
L6X 1A8

Phone:
905-796-3030

Cellphone:
416-200-0536

Fax:
905-796-2157

sholmes@on.aibn.com