Wills and Estate Planning
Too many Canadians either don’t have a will or have neglected to update their will throughout different phases of their life. According to a 2015 CIBC report, almost half of the Canadians without a will feel they are either too young or do not have enough assets to justify the need for this document.
Often the word ‘estate’ conjures up million-dollar mansions, collector automobiles and priceless works of art that most of us don’t possess. The truth is, that at end of life, almost every one of us has a collection of assets - be it money, property or cherished heirlooms. A will can ensure that you choose how these assets, large or small, are distributed amongst family and friends. Not only will it clearly identify, without any question, how you would like your possessions distributed, it will also eliminate the stress from those you leave behind. Many Canadians falsely assume that their assets will be immediately given over to next of kin. Ultimately the province will govern the final decisions and distribute any assets and liabilities according to the laws of that province. This may not necessarily reflect your wishes. TLC Legal will work with you to reduce any unnecessary taxes and fees or undue delay in the transferring of your assets.
Let TLC Legal help you identify and clearly articulate how you would like your belongings handled following your death. Knowing your wishes will be fulfilled and that you will not be placing family or friends under any unwanted stress during an already difficult time will help ensure that you have peace of mind.