Estate planning is one of the most important steps you can take to protect your loved ones and ensure your wishes are carried out after you're gone. Yet many Canadians delay creating a will, often with costly consequences for their families.
Why a Will Matters
A will is more than just a document—it's your voice when you can no longer speak for yourself. Without a will, provincial intestacy laws determine how your assets are distributed, which may not align with your wishes. This can lead to family disputes, unnecessary delays, and additional costs for your loved ones.
Key Components of Estate Planning
A comprehensive estate plan includes several important documents. Your will specifies how your assets should be distributed and who should care for minor children. Powers of attorney for property and personal care designate trusted individuals to make decisions on your behalf if you become incapacitated.
Protecting Your Family's Future
Estate planning isn't just about distributing assets—it's about minimizing tax implications, avoiding probate complications, and ensuring your family is cared for according to your wishes. A properly structured estate plan can save your beneficiaries thousands of dollars in taxes and legal fees.
When to Update Your Will
Life changes require updates to your estate plan. Marriage, divorce, the birth of children, significant asset acquisitions, or the death of a beneficiary are all triggers for reviewing and updating your will and powers of attorney.
Don't leave your family's future to chance. Contact Bekwyn Law PC today to discuss your estate planning needs and ensure your legacy is protected.