Forefront Law, P.A
Estate planning makes sense for everyone, regardless of their financial wealth. An Estate Plan is a legal document that sets out, in detail, how you want your money and assets distributed after you die. Two cornerstones of a good estate plan are a Will and a Power of Attorney document.
The first and most important step in estate planning is a valid and up-to-date will. A will is a legal document that explains how you wish your assets to be dispersed after you die. (If you don’t have a will, the government will distribute your estate according to provincial law.) Update your will if you:
• change your marital status.
• change your occupation.
• have or adopt a child.
• start or close down a business.
• change your assets significantly.
Power of Attorney
Power of Attorney appoints someone to act on your behalf and manage your affairs – including financial dealings, health care and personal matters – if you are unable to do so.
Distributing Your Estate
Your estate includes everything – not just obvious properties, such as a home. You will need to get a full and detailed assessment of all of your assets – including property you might own with other people. You will have to name heirs, including any charities you wish to support.
Seek Forefront Law, P.A to prevent unnecessary taxation, and to avoid immediate and unexpected cost burdens (e.g. funeral expenses and legal fees to settle your estate) for your heirs.