Although there is no legal requirement that you have your Will prepared by a lawyer, there are very good reasons to do so, including:
- If you separate or divorce, legal advice is absolutely essential. Without a properly drafted Will, the Succession Law Reform Act and the Family Law Act may permit a spouse or former spouse to benefit from your estate whether or not that is your intention.
- There are more than twenty statutes in Ontario that affect Estate Planning and Estate Administration. A lawyer will ensure that your Will is technically correct and that the laws that apply to your unique situation are identified and taken into consideration.
- Your same-sex partner or common-law spouse is not recognized as a legal spouse and, without a properly drafted will, your assets will be distributed as though your common-law spouse or same-sex partner is a complete stranger.
- Marriage revokes a prior Will. If you are planning to marry, you will need advice to ensure that your Will is worded in such as way that it is not revoked by the marriage.
- If you are aged, or have a past history of mental disease or some lesser form of mental disorder including a breakdown, you should consult a lawyer to avoid a challenge that you were not “of sound mind” when you made your will.
- Although a minor cannot, generally, make a valid will, there are certain situations where a person under the age of eighteen can make a valid will.
- The Income Tax Act imposes a capital gains tax on death. No matter what the size of your estate, you should consult a lawyer to obtain advice enabling you to avoiding paying more tax than is necessary.
- If you own assets in a county other than Canada, you should seek the advice of a lawyer to ensure that your Ontario will is sufficient to distribute your assets in another jurisdiction.
Need more information? Contact us at wills@sutherlandlaw.ca.