WILLS - Simplified Estate Planning System™
Why do I need a will? / When is the Right Time to Plan and Create a Will? / Who Should I Appoint as Executor? / Naming Beneficiaries / How Do I Get Started?
What information is Needed?
WHY DO I NEED A WILL?
Preparing or updating your Will and developing a plan for your estate, are two of the most important things you will ever do to help protect your family and your legacy.
You spend your lifetime working hard to provide and protect the ones you love. Don't let the government control your estate. Ensure that your wishes are paramount and your loved ones provided for. Your Will directs and instructs how your property and assets are to be distributed along with any other important matters you wish to control even when you are no longer here.
Without a Will your estate (upon death) remains unadministered until either the government or a person (not necessarily someone you would choose) is appointed as estate trustee to look after your assets. This may result in delays, further expenses and/or other complications.
What most people do not realize is that, in addition to protecting your family and legacy, estate planning is an essential part of a complete financial plan.
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WHEN IS THE RIGHT TIME TO PLAN AND CREATE A WILL?
TODAY! Virtually every adult should have a Will and review it at least every three to five years (or when a major life event has occurred such as the birth of a baby, death of a beneficiary, new property purchase etc.)
If you are not sure whether to proceed, give our office a call and we will review your situation and make an appropriate recommendation. There's no obligation and you'll have the information you need to make an informed decision.
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WHAT INFOMRATION DO I NEED TO PROVIDE MY LAWYER?
You will be required to provide the following information:
1. Your full legal name;
2.
Name of executor (person who administers your estate);
3. Name of alternate executor (if executor is unable or unwilling to act);
4. Beneficiaries (ie: your spouse with the remainder going to your children in equal shares)
5. Any cash legacies (ie: $1,000.00 to a specific charity or grandchild)
6. If you have minor children - who are to be the guardians?
7. Any other special matters you would like dealt with.
Request a Will or Power of Attorney online today! Prepared for you within one business day upon receipt of all necessary information! 
Wills made Simple!
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WHO SHOULD I APPOINT AS MY EXECUTOR?
The Executor of your Will makes sure that your wishes are carried out as stated in your Will. They are also responsible for handling all the legal and financial requirements of settling your estate.
You should appoint someone that you trust and that will likely be present should something happen to you. They should be reliable and someone that will ensure your wishes are followed through.
We strongly recommend that you appoint an alternate Executor as well in the event your Executor noted above is unable or unwilling to administer your estate.
Example: you could appoint your spouse as the Executor and your sibling as an alternate executor.
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NAMING BENEFICIARIES IN MY WILL
There is no right or wrong answer as to who should benefit from your estate. Every Will is unique to the individual. The most important thing to remember is that the decision is entirely yours and you should not be persuaded by family or friends. Don't worry if you change your mind in the years to come...your Will can be changed or amended at anytime (before death)! You can name one beneficiary or twenty beneficiaries, there is no set formula!
EXAMPLE:
A typical distribution of estate assets by a husband and wife (married for the first time) with 2 children.
Each spouse leaves everything to the other spouse, but if both spouses die (ie: car accident), all assets are left to children in equal shares. The assets are held in trust for the children until they reach an age specified by you (ie: age 21). Until such age, the Executor / trustee(s) (named by you) can use funds for the education, health and welfare of children.
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HOW DO I GET STARTED?
Virtually every adult should have a Will and review it at least every three to five years (or when a major life event has occurred such as the birth of a baby, death of a beneficiary, new property purchase etc.).
It is normal for people to delay in preparing a Will. Many find the process overwhelming and are unsure of what information is needed.
To relieve all these pressures ParnesRothman is pleased to introduced its Simplified Estate Planning System™. For only $195.00 + GST per Will, ParnesRothman guides you every step of the way to ensure your family is protected. Act now and invest in your family's future.
For further information please visit our Simplified Estate Planning System™ or phone our office at 905-477-5151.
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MARKET UPDATE
TORONTO - Friday, July 4, 2008 -- TREB Members reported 8,600
sales in June, TREB President Maureen O’Neill announced today.
“Sales were down 18 per cent from the 2007 total of 10,451, which was the
best performance ever for that month,” noted the president. “Nevertheless, the 8,600 figure is the fifth best June on record, and indicative of an active, healthy market.”
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