With a Will, you...

• Appoint the person or persons you want to administer your assets
  
• Determine the person and/or charities you want to benefit
  
• Determine the share of your estate each person or charity will receive
• Are able to Estate Plan to minimize Income Tax costs and avoid or minimize probate fees and ensure your beneficiary is not disadvantaged
• Can leave certain articles to various persons and/or charities
• Arrange your affairs in a manner that causes less stress, pain and sorrow to your family (e.g. preplan your funeral)

• Ontario Law directs to whom, and in what shares, your assets will be distributed and the age at which your beneficiaries can receive their shares.

Some Things to Consider

• Who do I want to act as my executor? Why?
• Who do I want to receive my estate? What share?
    -spouse
    -children
    -charities
    -other persons
  
• Who do I want to act as guardian for my children? Why?
  
• Are there ways to minimize income tax costs, estate expenses and probate fees?

• Prepare a list of what you own: for example: House, furnishings, cottage, car, boat, RRSPs, insurance policies, business interests, investments
  
• Prepare a list of persons and charities you wish to benefit, considering the reasons you wish to benefit them.
  
• Obtain the consent of your executor & guardian, to act
  
• Discuss your plans with any or all of your Accountant, Financial planner, Funeral Director and Lawyer
  
• Retain a lawyer to prepare the Will and any other supporting documents, e.g. Powers of Attorney for finances and for personal care, Trust Agreements.

What Next?

Let us at Howell Fleming LLP help you prepare your Estate Plan. We have been providing a full range of Estate Planning Services to Peterborough and Central Ontario since 1881.

Howell Fleming LLP
415 Water Street
Peterborough, Ontario

Phone: (705) 745-1361
Fax: (705) 745-6220
Email: grishor@howellfleming.com

Written by: Garry Rishor QC, Howell Fleming LLP.