It is not always easy to understand wills and estates because of the legal jargon. The good news is that you do not have to. All you should do is hire the right attorney to help break down the details in a manner that you can understand. Below are some of the ways that wills and estate attorneys in Barrie can help.
May Assist with Interstate Success even without a Will
Sometimes sudden death occurs, and people die before they make a will. Unfortunately, when this happens, the province dictates how your estate will be distributed and, in most cases, may not even reflect your wishes. For example, in Barrie, the surviving spouse gets the first $200,000.00, and the rest of the estate is divided between your kids and the spouse and children. The percentage will depend on the number of children you have. In cases where there were no children, your spouse takes over the entire estate because they are legally entitled to it.
However, this is not always the case. For example, one can die without a spouse and children. In such cases, the estate goes to the next of kin, based on the level of relationship as determined by the Succession Law Reform Act. But this is not the only unique case. For example, if you die with no will and the estate passes on to a child under the age of 18, the child’s estate shares will be administered on its behalf by the Ontario Office of the Public Guardian and Trustee until when the child gets to 18 years old and allowed to have their shares.
May Assist with Testate Succession with a will
Some people lead organized lives and are likely to leave a will even with sudden demise. Depending on your spouse’s right to an equalization payment, under Ontario Family Law Act, you are free to decide what you want with your estate after your demise. The right will and estate lawyers will help you legally choose and implement mechanisms that please you. They can also assist with the updating process whenever you need to make adjustments.
Professional Family Law Firm in Barrie 