Legal Insights

A certificate of appointment with a will means that the courts have acknowledged and stamped the will as legitimate and binding. Certificates of appointments are created so that financial institutions (for instance: banks) can protect their institutions. If not for certificates of appointments, in the event that the deceased had more than one will, with two different beneficiaries, the financial institutions may be in a situation whereby they may make a pay out to the wrong beneficiary. In response, these financial institutions require legal proof that you are the sole estate trustee and beneficiary, and that they are paying out the estate to the proper person. Once the financial institutions see a certificate of appointment with the will, then they are protected financially, and are no longer liable if they pay out the estate to the wrong individual. In addition, a certificate of appointment with the will is needed in order for a beneficiary to sell or transfer the deceased’s real estate, as well as in order to transfer shares from the deceased to the estate trustee. There are also situations whereby the content of the will may difficult to understand. By obtaining a certificate of appointment with the will...

A will is a legal document that is used to determine the division of an individual’s assets following their death. Preparing a will begins with the completion of a list of both your assets as well as your debts. This list should ideally include the components of any safety deposit boxes that you currently hold in your name, any items of sentimental value, and any family heirlooms you hold in your possession along with anything else you wish to pass down to anyone following your death. Then in preparing a will you must determine what goes to whom. In situations whereby the estate in question is a large sum of money, or whereby the situation is legally complex for whatever reason, it may be in your best interest to hire a lawyer to assist you in preparing a will that best suits your situation. Another reason to obtain an attorney to help in preparing a will is to ensure it is legally binding and is resistant to being overturned, should there be disagreement with respect to the will after your death. It is possible to change your will after the initial draft. Doing so requires either preparing a new legally...

Wills in Ontario are legal documents that outline how one wishes to distribute their property upon their death. Without a legal will, your assets may not be distributed in the way that you wish. Wills in Ontario also minimize the possibility of tension between the surviving family members after the death of an individual. There are various types of wills; these include holographic wills, oral wills, and living wills. Holographic wills are not witnessed by a third party and therefore seldom hold up in court. Oral wills have no written documentation and are rarely taken into account from a legal perspective. Living wills, in contrast to the other forms of wills, do not come into effect after the person in question passes away. A living will deals with who should be held responsible for decisions regarding medial care if an individual is not in a position to make such decisions for his or herself. The best way to structure wills in Ontario in order to ensure the best odds of it standing up in court is to have the will in writing, and signed and witnessed by a third party. There are many specific items that are not covered in the will. These items include...

The answer to this question is likely yes. If you are involved in a family law dispute, even if you and your spouse have settled all of the issues in your family law matter amicably, you should likely have a new will (and powers of attorney) drawn up. A will sets out how a person would like his or her assets distributed upon his or her death. A power of attorney sets out who you would like to appoint as an attorney to act on your behalf. An attorney is a person or persons whom you appoint to carry out your wishes during your lifetime. A separation and divorce does not nullify your will or undermine the validity of your will. Nonetheless, once you are separated you will likely find that its terms are no longer appropriate. For example, while you were married you may have left items to your spouse. In view of the separation, you may now want to leave these items to your children or to another loved one. At Krol & Krol, we provide guidance with respect to family law estate planning so that you can properly plan how your assets will be distributed upon your death. The solicitors at Krol & Krol have...