If you are interested in Estate Planning documents, please request our Estate Plan Form (click here).

Based on the information on the Form, we may be able to prepare draft Wills, Powers of Attorney, or Personal Directives for us to go over with you in the first meeting.

Wills

A Will is your opportunity to:

  • Name your Executor (also called a Personal Representative) to manage your estate

  • Name beneficiaries

  • Name Guardians for minor children

  • Outline any other wishes you have upon your death

 

Each Will is unique to the person creating one (called a Testator) and can be as simple or complex as he or she prefers.

Power of Attorney

A Power of Attorney gives another person (called an Attorney) the power to manage your assets and financial matters. You also can give them additional powers and/or restrict their authority as well. The Power of Attorney is only effective while you are alive (subject to the variations described below). Once you die, the Power of Attorney ends and your Will comes into effect.

Springing VS Immediate

  • Springing: Power of Attorney becomes effective only after you lose capacity

  • Immediate: Power of Attorney becomes effective the moment you execute it

This depends on what you want to use your Power of Attorney for (i.e. Have someone pay your bills while you are on an extended trip versus Have someone manage your affairs because you no longer can).

Enduring VS Non-enduring

An “Enduring” Power of Attorney means that it continues to be effective even after you lose capacity. If the Power of Attorney is not “Enduring”, then it loses effectiveness the moment you lose capacity.

Personal Directive

A Personal Directive allows you to name a person (called an Agent) to manage your personal matters, such as healthcare and accommodations. The Personal Directive gives you the opportunity to outline your wishes, such as whether you want your organs donated for transplant.

Unlike the Power of Attorney, a Personal Directive can only become effective upon your incapacity.

 

If you do not have a Will, Enduring power of attorney and a personal directive

Then someone will have to make a court application to:

  • Be named your Personal Representative to represent your estate after your death.

  • Be named your Trustee to manage your assets and financial matters after your incapacity.

  • Be named your Guardian to manage your personal matters after your incapacity.

Court applications are time consuming and costly. As such, it is best to plan ahead.

Also, if you die without a Will, you are considered to have died “intestate”. This means that the Wills and Successions Act will dictate who your beneficiaries are (who gets your assets).

 

Fee Information

Will: $300.00+

Enduring Power of Attorney: $200.00+

Personal Directive: $200.00+

Estate Plan includes a Will, Enduring Power of Attorney, Personal Directive.

Single Estate Plan: $700.00+

Couple’s Estate Plans: $1,200+

+ The listed prices are usual fees. In some cases they may be less, or there may be additional fees if there are added complexities (for example, testamentary trusts).

For more information, please contact our office. For an Estate Plan Form to initiate the process, please click here.