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Nazarian Law Nazarian Law Image Nazarian Law Nazarian Law hello@nazarianlaw.ca +1 647-660-6900 130 Queens Quay East, Suite 715, Toronto, Ontario, M5A 0P6
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Nazarian Law Nazarian Law Image Nazarian Law Nazarian Law hello@nazarianlaw.ca +1 647-660-6900 130 Queens Quay East, Suite 715, Toronto, Ontario, M5A 0P6
5 stars - "<p>I recently had the pleasure of working with this law firm and was blown away by their level of expertise and professionalism. They made me feel right at home from the moment I walked through their door, and their level of compassion and understanding was truly refreshing. They took the time to explain everything to me in a way that I could understand and always kept me informed throughout the entire process. Thanks to their hard work and dedication, my legal matter was resolved successfully, and I couldn&#8217;t be happier with the outcome. I highly recommend this firm to anyone in need of legal services. Trust me, you won&#8217;t be disappointed. They are the real deal and know how to get things done.</p> "
Nazarian Law Nazarian Law Image Nazarian Law Nazarian Law hello@nazarianlaw.ca +1 647-660-6900 130 Queens Quay East, Suite 715, Toronto, Ontario, M5A 0P6
5 stars - "<p>I recently had the pleasure of working with Nazarian Law firm relating to a real estate closing that was fast approaching. We could not be happier with the high level of service that we were provided with. From start to finish Armen and Daniel were both extremely professional, responsive, knowledgeable and went above and beyond to assist us in meeting our closing deadline. There was excellent and clear communication throughout and I appreciate all of their hard work and I would highly recommend this law firm!!</p> "
Nazarian Law Nazarian Law Image Nazarian Law Nazarian Law hello@nazarianlaw.ca +1 647-660-6900 130 Queens Quay East, Suite 715, Toronto, Ontario, M5A 0P6
5 stars - "<p>We&#8217;ve relied on Armen and the Nazarian Law team for several business and real estate matters and the one thing that always blows us away is the level of care and responsiveness we get from this firm. Armen is always ready to handle a priority closing, and does it with exceptional care and service.</p> "
Nazarian Law Nazarian Law Image Nazarian Law Nazarian Law hello@nazarianlaw.ca +1 647-660-6900 130 Queens Quay East, Suite 715, Toronto, Ontario, M5A 0P6
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The Role of a Wills & Estates Lawyer in Ontario: Understanding Their Expertise

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The Role of a Wills & Estates Lawyer in Ontario: Understanding Their Expertise

Apr 28th 2023

In Ontario, a wills and estates lawyer is a legal professional who specializes in advising clients on matters related to estate planning, wills, trusts, and the administration of deceased persons’ estates. The lawyer’s role is to ensure that their clients’ assets are distributed according to their wishes, while minimizing tax liabilities and avoiding legal disputes.

A Wills & Estates lawyer in Ontario can provide invaluable assistance in the following areas:

Estate Planning:

  1. Wills
  2. Trust
  3. Power of Attorney

Estate Administration:

  1. Obtaining a Certificate of Appointment of Estate Trustee
  2. Asset Management
  3. Estate Litigation
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Estate Planning

Estate planning is the process of organizing an individual’s assets and outlining their distribution upon death. This includes the preparation of a will, establishing trusts, and planning for the management of assets in the event of incapacity. A wills and estates lawyer in Ontario helps clients design a comprehensive estate plan that suits their individual needs and circumstances, ensuring the proper distribution of assets to their loved ones.

1. Wills

A will is a legal document that outlines how a person’s assets will be distributed after their death. It appoints an executor who is responsible for administering the estate according to the terms of the will. A wills and estates lawyer helps clients draft a valid will that complies with the requirements of the Succession Law Reform Act of Ontario (SLRA). This includes ensuring the will is signed and witnessed correctly and that the testator has the requisite mental capacity.

As life changes, so too can the contents of a will. For example, if a client gets married or has a child after drafting their will, they may want to update it to reflect these changes. Alternatively, if there are changes to tax laws, a wills and estates lawyer can advise clients on how to adjust their estate plan accordingly.

2. Trusts

Trusts are legal arrangements where one party, known as the trustee, holds and manages assets for the benefit of another party, known as the beneficiary. There are a variety of reasons why a person may want to create a trust, such as to provide for a child with special needs or to protect assets from creditors. A wills and estates lawyer can help clients establish various types of trusts to accomplish specific estate planning goals, such as minimizing taxes, protecting assets from creditors, or providing for a beneficiary with special needs.

3. Power of Attorney

A power of attorney is a legal document that grants one person, the attorney, the authority to make decisions on behalf of another person, the grantor, in case of incapacity. There are two main types of powers of attorney: a power of attorney for personal care and a power of attorney for property. A wills and estates lawyer can advise clients on the benefits and limitations of each type of power of attorney, ensuring the documents comply with the requirements of the Subsitute Decisions Act of Ontario.

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Estate Administration

After a person’s death, their estate must be administered according to the terms of their will, or, in the absence of a will, according to the rules of intestacy under the SLRA. A wills and estates lawyer assists the executor in navigating the complex process of estate administration, which includes the following tasks:

1. Obtaining a Certificate of Appointment of Estate Trustee

To gain the legal authority to administer an estate, the executor must apply for a Certificate of Appointment of Estate Trustee (formerly known as probate) from the Ontario Superior Court of Justice. This process can be particularly challenging if the deceased had a complex estate or if the will’s validity is contested by one of the potential beneficiaries.

2. Asset Management

A wills and estates lawyer can advise the executor on their duties and responsibilities, such as identifying and valuing the assets of the estate, paying debts and taxes, and distributing the remaining assets to the beneficiaries according to the terms of the will.This process can be further complicated when the estate includes unique assets, such as business interests, intellectual property, or overseas holdings, which may require specialized valuation and management expertise.

3. Estate Litigation

In some cases, disputes may arise during the administration of an estate, such as challenges to the validity of a will, claims against the estate by creditors, or disagreements among beneficiaries. Estate litigation can be a lengthy and costly process, with the potential to erode the value of the estate and strain relationships among family members, making it crucial to address and resolve disputes as efficiently as possible.

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Concluding…

A wills and estates lawyer in Ontario plays a crucial role in helping individuals and families plan for the future, ensuring that their assets are distributed according to their wishes while minimizing potential legal disputes. From drafting wills and establishing trusts to assisting with estate administration and navigating estate litigation, these legal professionals provide invaluable expertise and guidance throughout the entire process.

By engaging the services of a wills and estates lawyer, individuals can achieve peace of mind knowing that their estate plan is tailored to their specific needs and circumstances, protecting their loved ones and preserving their legacy. Moreover, the assistance of a lawyer during the estate administration process can greatly alleviate the burden on the executor, ensuring that the deceased person’s wishes are honored, and the estate is managed efficiently and in accordance with the law.

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Disclaimer

The content provided in this article or blog is for informational purposes only. It is not intended to constitute legal advice or to replace the advice of a qualified legal professional. While we strive to provide accurate and current information, the law is complex and constantly changing, and each person’s circumstances are unique. Therefore, you should not rely on this information as a substitute for professional legal advice. This information does not create an attorney-client relationship between you and our law firm. We strongly recommend that you consult with a qualified attorney in your jurisdiction to understand your legal rights and obligations. Always seek legal advice before making any decisions that may impact your legal rights or obligations.

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