50 Years of Ontario Estate and Trust Law Service
Complex estate planning requires the attention of professionals with access to significant resources and a clear understanding of a complicated legal landscape. Countless Estate planning products are designed to meet a comprehensive range of financial and asset management needs. Put legal counsel on your side that has a proven record of service to the people of Ontario.
Based in Toronto, lawyers at the offices of Hull & Hull LLP have been working exclusively in the areas of Estate and Trust law since 1957. Our law firm is proud to be respected as a leader in the field with lawyers who have argued before the Supreme Court of Canada and authored some of the leading legal texts on Estate matters.
We have the resources, the understanding and the commitment to client service to manage your Estate planning needs.
Comprehensive Estate Planning
You can rely on our lawyers to customize a strategy for your unique needs. We help you prepare documents and explore a full range of Estate planning options, including:
- Will Drafting
- Establishing Trusts (including family Trusts, testamentary Trusts, insurance Trusts)
- Tax Planning
- Drafting of Living Wills and Advance Medical Directives
- Naming Powers of Attorney
- Business Succession Planning
- Appointment of Trustees
As a proven Estate litigation firm with five decades of experience, we can help you be a proactive force in minimizing or preventing litigation. We can use our practical experience to help you keep your family and your Estate from being tied up in costly and acrimonious litigation.
We also provide a wealth of information and services to inform and educate clients. Review our media center for access to our podcasts, videos and publications for more information.
A GUIDE TO ESTATE PLANNING IN TORONTO
At a certain stage in our lives most of us will need to confront the reality of contacting an estate lawyer for the purpose of preparing our will and planning for the passing of our estate.
Toronto estate planning laws may differ to those in other provinces so it is essential to clarify your provincial entitlements.
What does estate planning in Toronto involve?
Estate planning involves arranging the transfer of your assets in anticipation of death and aims to secure the maximum financial package possible for transfer to your intended beneficiaries, while it also provides you with structured financial decision-making flexibility up until your death.
Once you have contacted your chosen estate lawyer an estate plan will then be prepared which should include:
•· A list of your assets including property, pensions, investments and personal assets as well as a breakdown of the ownership of these assets
•· A list of your liabilities and debts
•· A main objective or structure to your plan. This can be different for many reasons as you may want to provide for the well-being of your siblings once you have passed away, or you could give it all to charity
•· An outline of any eventualities that you wish to avoid. This can prevent potential executor disputes or situations which may cause family disharmony
•· Details of possible provision of power of attorney or appointment of an estate trustee to deal with your financial affairs
After the estate plan has been prepared the all-important will can then be drafted, providing instructions for the distribution of your estate along with any relevant guardianship choices involving children. This document should be updated every three to five years or when circumstances dictate.
What if I have made no provision for my death?
In the event that you have not written a will, appointed an estate trustee or prepared an estate plan in any form, the results may be very different:
•· The person assigned to be the executor of your estate may not be the person you had requested. This could lead to lengthy and expensive executor disputes
•· Any property distributed will be done so according to legislative formula
•· The distribution of the estate to your beneficiaries may be severely delayed with higher administration costs
Hull & Hull Toronto estate lawyers
If you need advice about planning the passing of your estate or have any questions about executor disputes, power of attorney or any other Toronto estate planning issue, Hull & Hull's team of experienced estate lawyers are here to provide you with the best advice and representation available.
Schedule an Appointment
To review your Estate planning needs or to schedule an initial consultation at our office, contact Hull & Hull LLP online or by phone at 1-866-497-0903.