Guest Blog Written By: Liana Rossi of Barrila Law
What is a Will, and what can it do for me?
A Will is a document that specifies who will inherit your assets upon your death, for example, the money in your bank accounts, real estate, jewellery, cars, and other property. But a Will is so much more than a means of distributing your property when you’re gone, especially if you have children. For parents, a Will is an important document to have in place to ensure your child or children are cared for by the people you want if anything should happen to you. In your Will, you can appoint a guardian to care for your children if you die before they become legal adults, and you can designate an estate trustee to manage your money for your children until they reach adulthood. You can appoint the same person to act as both the guardian and estate trustee, or choose different people to carry out these separate roles.
What will happen if I do not have a Will?
If you do not have a Will, there is no guarantee that when you die your money will go to the people you want or that your children will be cared for by the person you believe will do the best job. If someone doesn’t step forward and apply for the job of distributing your estate, then the province will appoint a public trustee to do so. The settlement of your estate may be a long drawn out affair. Most importantly, you would not be able to name your choice of guardian for your children. In the Province of Ontario, the Public Guardian and Trustee will step in and do so for you.
How can I get a Will?
It’s as simple as completing a Will Intake Form (which can be provided to you by Barrila Law) and emailing it directly to Liana Rossi at [email protected]. Liana Rossi will contact you within 24 business hours to discuss the Will Intake Form you have completed and set up an appointment for you to sign your Will. If you have any questions, Liana Rossi may be reached directly at 905-326-2767.
Barrila Law has offices located in Vaughan, Mississauga, and Hamilton. Barrila Law’s practice is dedicated to Wills/Estates Law, Real Estate Law, and Corporate/Commercial Law.
Don’t wait around any longer and get started on yours today. The future of your family is at stake!
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