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Wills & Estates Lawyer Toronto
We are Toronto Wills & Estates Lawyers focused on planning your future and protecting your loved ones. We work with you to carefully map out your estate plan often involving a will and powers of attorney. Our holistic approach will take into consideration our expertise in real estate, business and family law to avoid issues before they arise.
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Discovery CallEstate Planning
- Last Will and Testament
- Corporate Will / Secondary Will
- Power of Attorney for Property
- Power of Attorney for Personal Care
- Family Trusts
- Inter Vivos Trusts
- Business Succession Planning
Estate Administration
- Probate Application
- Probate Tax
- Executor Services
- Estate Trustee Services
- Passing of Accounts
- Foreign Executor
- Court Documents & Filings
How we work
At Nazarian Law we support the next generation of families and businesses through diligent estate planning. We seek to avoid problems before they arise. It starts with our no obligation Discovery Call which dives deep into understanding you and your family and assets in order to provide a custom plan tailored to your situation.
Learn what services we have to offer below and get in touch with us to
Book your Discovery CallStep 1.
Book a Discovery Call
Prior to our Discovery Call, we ask that you complete our client intake form so that we may use our time together efficiently. Our no obligation Discovery Call is strictly confidential and will dive deep into understanding you, your team and your business.
Step 2.
Engage Our Services
Retain Nazarian Law to formalize our lawyer-client relationship with clear expectations.
Step 3.
We will take it from there
Depending on the scope of our service we will either draft documents, request for documentation, book a strategy call or prepare e-signatures for completion.
Let’s get started
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FAQs
A Last Will and Testament, often simply referred to as a Will, is a legal document that allows you to express your wishes regarding the distribution of your property and assets after your death. It can also include provisions for the guardianship of minor children.
Creating a Will is crucial as it ensures that your wishes are honoured after your death. Without a Will, your estate will be divided according to Ontario’s Succession Law Reform Act, which may not align with your preferences.
Furthermore, having a Will can potentially simplify the process for your heirs, reduce conflict among family members, and minimize estate administration tax.
Despite its importance, many people neglect to prepare a Will. At Nazarian Law, our wills and estates lawyer can assist you in creating a Will that meets your needs and respects your wishes in compliance with Ontario and Canadian laws.
If someone passes away without a Will in Ontario, they are considered to have died “intestate”. In this case, Ontario’s Succession Law Reform Act determines how the estate is distributed.
Without a Will, there’s also no appointed executor, so a family member or other interested party must apply to the court to be appointed as the estate trustee.
These rules may not reflect your wishes or your family’s needs, which is why it’s advisable to make a Will. Our team of wills & estates professionals are ready to assist you in creating a Will that reflects your wishes. Simply book a Discovery Call with us today.
A Corporate Will, also known as a Secondary Will, is commonly used in Ontario to reduce probate fees (Estate Administration Tax). It’s typically executed in conjunction with a Primary Will.
In the Primary Will, you deal with assets that require probate to be transferred (like a house). In the Secondary Will, you deal with assets that do not require probate (like shares in a privately held corporation).
This separation allows the assets in the Secondary Will to bypass probate, reducing the overall Estate Administration Tax payable. It’s particularly beneficial for business owners with significant assets in their corporation.
Determining whether a Corporate Will is right for you depends on your individual circumstances, including the nature and value of your assets. Our team is experienced in both corporate law and wills & estates which allows us to guide you through the process, and ensure that your estate planning strategy is tailored to your situation.
A Power of Attorney for Property and a Last Will and Testament are both important estate planning tools in Ontario, but they serve different purposes.
A Power of Attorney for Property is a legal document in which you appoint someone to manage your financial affairs while you’re still alive but unable to do so yourself, due to incapacitation, illness or absence. It takes effect immediately upon signing or at a specified future date or event, and it ends at your death.
A Last Will and Testament, on the other hand, outlines how you want your assets distributed after your death. It only comes into effect when you pass away.
These documents complement each other to ensure your affairs are handled according to your wishes both during your lifetime and after your death. Our wills and estates team at Nazarian Law can help you create a Power of Attorney for Property in accordance with your intentions.
A Power of Attorney for Personal Care is a legal document in Ontario where you appoint someone you trust to make medical and personal care decisions on your behalf, should you become incapable of doing so. This includes decisions about health care, nutrition, shelter, clothing, hygiene, and safety.
The person you appoint is called your “attorney” (which does not mean a lawyer in this context). The role can take effect only after a healthcare professional confirms in writing that you’re mentally incapable of making certain decisions.
It’s a common concern to ensure one’s personal care decisions are in trusted hands, which is why the experienced team at Nazarian Law is ready to guide you through the process, helping to draft a Power of Attorney that reflects your wishes and needs. It’s always recommended to consult a legal professional when creating such significant legal documents.
Family Trusts are legal arrangements where a person (the settlor) transfers assets to a trust, managed by a trustee for the benefit of designated family members (the beneficiaries).
They can be an effective estate planning tool in Ontario. They allow for the control and distribution of assets during the settlor’s lifetime and after death. Trusts can provide tax planning benefits, protect assets from creditors, and offer flexibility in how assets are distributed.
For example, they can be used to income split by attributing income to beneficiaries in lower tax brackets. They can also protect assets in cases of family law disputes or bankruptcy.
However, setting up and managing a trust can be complex and involves ongoing legal, accounting, and administrative duties. The lawyers at Nazarian Law, with their experience in estate planning, are well-equipped to guide you through these complexities and help determine if a Family Trust is right for your situation.
An Inter Vivos Trust, also known as a Living Trust, is a legal arrangement created during a person’s lifetime where a trustee is appointed to manage the assets placed into the trust by the settlor for the benefit of the trust’s beneficiaries. This is different from a Testamentary Trust, which is established upon the settlor’s death.
Inter Vivos Trusts can offer several benefits. They can provide for those unable to manage their own finances, like minor children or persons with disabilities. They can also ensure privacy, as, unlike a will, a trust isn’t probated and therefore remains private. Moreover, these trusts can be used for tax planning and to avoid probate fees.
Determining if an Inter Vivos Trust is beneficial depends on individual circumstances and goals. Nazarian Law, with its experienced team of lawyers, can provide personalized advice based on your specific situation and needs.
Business Succession Planning is the process of preparing for the transfer of control and ownership of a business when the owner retires, becomes incapacitated, or passes away. It’s a crucial component of any business owner’s overall estate plan.
This planning is important as it helps ensure a smooth transition, minimizing disruption to operations and avoiding potential disputes or confusion. It also allows for the mitigation of potential tax liabilities and helps protect the value of the business.
Planning can involve strategies such as selling the business, transferring it to family members, or arranging for management buy-outs, among other things. Each situation is unique, requiring tailored solutions.
Given the complexities, it’s strongly recommended to engage with experienced professionals. Nazarian Law has a team of experienced lawyers who can guide you through the Business Succession Planning process, helping to ensure your business is well-prepared for future transitions.
Creating a valid will in Ontario requires meeting several formal requirements as per the Succession Law Reform Act. Firstly, you, as the testator, must be at least 18 years old and of sound mind.
The will must be in writing. While handwritten (holograph) wills are permitted, most wills are typed. The will must be signed by you and this signature should ideally be at the end of the document.
Additionally, two witnesses, also at least 18 years old and of sound mind, must witness your signature. Witnesses, or their spouses, should not be beneficiaries under the will as this could void their gifts.
Compliance with these requirements is crucial to ensure the will is legally valid. Errors can cause disputes or even invalidation of the will. Given the complexity and importance of this process, it’s recommended to engage our wills & estates team at Nazarian Law, who can guide you through each step of creating a will.
In the context of wills and estates in Ontario, a testator is an individual who has created a will, outlining the distribution of their assets upon their death. An estate trustee, formerly known as an executor, is the person appointed by the testator to carry out the instructions in the will. The estate trustee’s responsibilities include managing the estate, paying off debts, and distributing the remaining assets to the beneficiaries. Beneficiaries are the individuals or entities named in the will who will receive the assets or properties from the estate. These terms are fundamental to wills and estate planning law in Toronto, Ontario, and are governed by the Succession Law Reform Act. It’s recommended to consult with a Toronto wills and estates lawyer to ensure that the will preparation and estate administration comply with the applicable laws.
A probate application, officially known as an application for a Certificate of Appointment of Estate Trustee in Ontario, is a legal process where the court formally approves the validity of a will and the appointment of an executor, who’s then authorized to administer the estate.
Probate is necessary for several reasons. Financial institutions, land registry offices, and others often require a Certificate of Appointment to ensure they’re dealing with the correct person. It provides them protection against potential liabilities for wrongful distribution of assets.
Furthermore, probating a will validates its legitimacy and can minimize disputes over its authenticity or the executor’s authority.
Our wills & estates team at Nazarian Law can guide you through probate, ensuring all legal requirements are met and potentially minimizing the tax implications. It’s always recommended to consult with a lawyer when dealing with estate matters.
The timeline to complete a probate application (officially known as an “Application for a Certificate of Appointment of Estate Trustee”) in Ontario can vary significantly based on the complexity of the estate and the efficiency of the court system.
Typically, preparing and filing the application can take a few weeks. Once the application is filed, the court’s processing time can range widely, from several weeks to several months, depending on the court’s backlog. Therefore, a general estimate could be anywhere from 2-6 months for the entire process.
Given this variability, it’s advised to have experienced legal guidance, like the team at Nazarian Law, who can efficiently prepare and file the application, helping to avoid unnecessary delays. Please note that the actual timeline can vary based on individual circumstances, and your lawyer can provide a more accurate timeline based on your specific situation.
Probate tax, officially called the Estate Administration Tax in Ontario, is a tax payable to the provincial government when the executor of a will applies to the court for a Certificate of Appointment of Estate Trustee (often referred to as “probating the will”). This certificate confirms the validity of the will and the executor’s authority.
At the time of writing this answer, in Ontario, the probate fee, or the Estate Administration Tax, is calculated at 1.5% of the total value of the estate. Please be mindful that the Estate Administration tax may change from time to time in accordance with the most recent legislation.
We encourage you to engage our wills & estates team at Nazarian Law to discuss your specific situation and estimate the taxes owed on the estate in question.
Yes, there are strategies to minimize probate tax in Ontario. One common method is to hold assets jointly with the right of survivorship, as these assets bypass probate and transfer directly to the surviving owner. However, this method should be used cautiously due to potential legal and tax implications.
Another strategy is designating beneficiaries on registered plans and insurance policies, as these assets can pass outside of the estate. Gifting assets prior to death is another method, although this comes with its own set of considerations, including potential tax implications.
Trusts are another tool that can be used to minimize probate tax, as assets held in a properly structured trust may avoid probate.
It’s important to note that these strategies can have significant legal, tax, and even emotional consequences. Therefore, it’s crucial to consult with experienced lawyers, like the team at Nazarian Law, when planning your estate. Please remember that every situation is unique and requires personalized advice.
In Ontario, the probate tax (officially known as the Estate Administration Tax) is generally the responsibility of the estate’s executor, who is also called the estate trustee. This tax is paid out of the assets of the deceased’s estate.
The probate tax is based on the total value of the deceased’s estate at the time of death, and it must be paid when the executor applies to the court for a Certificate of Appointment of Estate Trustee.
It’s a common question and one that highlights the importance of having sound legal advice when dealing with the complexities of estate administration. Book a Discovery Call with Nazarian Law to connect with a wills & estates professional.
An executor, also known as an estate trustee in Ontario, is a person named in your Will who is responsible for carrying out your wishes after your death. Duties of an executor typically include:
- Arranging for your funeral.
- Identifying and gathering your assets.
- Paying any outstanding debts and taxes.
- Applying for probate, if necessary.
- Distributing your assets as outlined in your Will.
The role of an executor can be complex and time-consuming, requiring knowledge of legal and tax matters. It’s essential to choose someone you trust and who is capable of fulfilling the duties.
At Nazarian Law, we understand that the role of an executor can be overwhelming. Our team of experienced lawyers is ready to provide guidance, support, and professional advice to executors navigating their responsibilities, ensuring your wishes are carried out in accordance with Ontario and Canadian laws.
Yes, in Ontario, an executor, also known as an estate trustee, can charge for their services. This is commonly referred to as the “executor’s fee”. The fee is meant to compensate the executor for the time, effort, and skill they put into administering the estate.
The fee isn’t set by statute but is typically around 2.5% to 5% of the estate’s value, depending on the complexity of the work involved. The fee may also be outlined in the Will itself, or the executor and the beneficiaries may agree on a reasonable fee.
However, the executor’s fee is subject to court review and must be justified. If there’s a dispute over the fee, the court will look at factors such as the size of the estate, the complexity of the work, and the time spent.
Navigating these issues can be complex, which is why Nazarian Law has a team of experienced professionals ready to guide you through the process. Always consult a legal professional for advice tailored to your situation.
Being named as an executor is a significant responsibility, and it’s completely understandable that you might feel unable or unwilling to take on the role. In Ontario, you are not legally obligated to accept the position.
If you decide not to act as executor, you can renounce your right to do so. Renouncing typically involves signing a formal document known as a “Renunciation”, which states you’re giving up your right to act as executor. This document would then be filed with the court.
If there’s a co-executor named in the will, they can take on the duties. If there’s no co-executor, the court may appoint an estate trustee.
Navigating these legal processes can be challenging, which is why our wills and estates team at Nazarian Law can guide you through the process and help you make the best decision for your situation.
Yes, in Ontario, an estate trustee (also known as an executor) can be held personally liable for the mismanagement of an estate. The role of an estate trustee involves significant responsibilities and duties. If the estate trustee acts negligently, dishonestly, or in bad faith, they can be held personally liable for any losses the estate or its beneficiaries suffer as a result.
Liabilities could arise from a range of actions such as improper distribution of assets, failure to pay the estate’s debts or taxes, or mismanaging the estate’s assets. An estate trustee could also be liable if they don’t adequately protect the estate’s assets, leading to their devaluation.
Given the complexities and potential liabilities associated with being an estate trustee, it’s recommended to seek professional legal advice. At Nazarian Law, we have a team of experienced professionals who can guide you through the process and help mitigate potential risks.
The “passing of accounts” refers to the process in which an estate trustee (executor) formally presents the estate’s financial accounts to the Ontario Superior Court of Justice for review and approval. This process provides transparency to beneficiaries and offers a legal confirmation of the estate’s financial management.
It may be necessary to pass accounts when it’s required by the Will, requested by a beneficiary, or when the trustee decides it’s appropriate – for instance, if the estate is complex or if there are disputes among beneficiaries. It’s also typically done when the trustee is ready to distribute the estate’s assets and wants to be discharged from their duties.
Given the potential complexities of estate administration, it’s beneficial to have experienced legal counsel. At Nazarian Law, our wills & estates team can assist you by offering guidance to your unique situation.
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Other Services
At Nazarian Law, we offer a range of legal services to our clients. Learn about our other practice areas and how it fits your needs.