There is a common myth that older people make a will for their inheritors. Accidents never occur with any prior intimation. If all of a sudden you come across with such an event and have the die premature, your family can be at stake. It is the duty of every individual adult to draft a will and declare the heirs legally. If you are a responsible spouse and a parent, making a will can keep your family safe even if you die early. With the help of a reliable wills & estates lawyer Toronto, the will can be made easily and without anticipating any unnecessary hindrance.
So, know the top things for making a will—
Get an executor
The executor of the will can be called as the “archangel” protecting the assets that you have divided among the heirs. Find a trusted and responsible friend or relative as your executor who can follow the things which you have mentioned for him/her properly. Hire a reliable Toronto Wills & Estates lawyer to take care of the whole process.
It is the executor’s responsibility to offer the properties, money and other assets among your loved ones accordingly you have mentioned. After allotting the money, and other assets to the persons that you will mention in the will, the executor will close the accounts and do other bank jobs or legal tasks as asked by your wills & estates lawyer in Toronto.
Name a guardian if your heirs are Under 18
If your children are your heir, a guardian to the will that you will make for them is needed until and unless they become 18. Adults can take good care of the assets and properties as they develop to be more matured. Until then, you have to select a guardian to the will under the legal advice of the will and estate lawyers Toronto. Make sure that person is completely reliable and is compassionate towards your children. If you die untimely, that person can be the best caretaker of the children and when they will become 18+, he/she can pass over the assets to them per your last wishes.
The government can spilt the assets if the will is not made
To secure the future of your lawful spouse and kids, you should make a will beforehand. Death is unpredictable, thus, to take proper care in advance can be beneficial is all respect. Unfortunately, if you die early without leaving any will, all your assets will be taken over by the government that split the properties among the surviving spouse and the living parents or children. But, if you prepare the will earlier following the good advice of the wills & estates lawyer in Toronto, the assets can be split among the ones you want.
Keep the original will in the bank safe and keep a copy in your home so that the will can remain protected even when you are not home. When it comes to assets, take only good advices from the will and estate lawyers Toronto to take smarter decisions.