Wills & Estates
A Will is an essential document that outlines how your estate will be handled after your passing. Making a Will is vital if you want to be certain that your wishes are met after you die.
A Will is the only way to make sure your money, property, possessions and investments (known as your “Estate”) go to the people and causes that you care about.
If you do not have a Will when you die, your Estate will be handled pursuant to the laws of Intestate Succession applicable in the place where you die or in the case of real property (ie houses & land) in accordance with the Intestate Succession laws of each jurisdiction where you own the real property.
Wills and Estates are inextricably linked with family relationships. maintain up-to-date knowledge of the latest developments in this complex and specialised area of the law.
A written Will makes your intentions clear about:
Any inheritance you leave for your loved ones;
Guardianship for your minor children or other dependents;
Any charitable donations that you would like made;
How you want your property, money, assets, and other valuables distributed after you die.
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A will is more than a document; it’s peace of mind. Without a will, Ontario’s intestacy laws determine how your property is divided, often leading to disputes or outcomes that may not align with your wishes.
Having a will ensures that you:
Choose (estate trustee) to manage your estate.
Decide who inherits your assets.
Plan for the care of minor children or dependents.
Minimize costs, including probate fees.
Your partner will not inherit your estate automatically
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In most areas of your life, you get what you pay for – Estate Planning is no exception. You should get advice from a professional if your Will is not straightforward, for example:
Share a property with someone who is not your husband, wife or civil partner.
You have been divorced or have recently married.
You have property or pension overseas.
Your permanent home is outside of Queensland.
You have several family members who may make a claim on your will, such as a second spouse or children from another marriage.
You want to leave money or property to a dependant who cannot care for themselves;
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Where a person contracts to take a life assurance policy where that person nominates a person or persons as the beneficiaries entitled to receive the proceeds of the policy upon the death of the assured, the contract is not testamentary in nature and the interest in the policy does not normally pass by a policy owners Will. However, if no nomination is made by the insured or the nominated beneficiary fails to survive the policy holder, the life assurance policy proceeds may be deemed to belong to the deceased person and the proceeds will pass to his or her estate upon death to be disposed of by his or her Will.
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An Enduring Power of Attorney (‘EPOA’) is a document which confers on another person or persons the right to look after an individual’s affairs. The document sets out the roles in which someone can act as follows:
The Donor is the person who made the EPOA and has given to another person orpersons the right to look after the Donor’s financial affairs.
The Attorney(s) is a person or persons who receive power under an EPOA to manage the Donor’s affairs. Any Attorney must have been at least eighteen years of age and cannot have been bankrupt when they agree to accept the authority of the Power.
The Attorney can be anyone over 18 years of age but cannot be:
A person who is bankrupt,
An incapacitated person,
Your paid carer (a person receiving a carer’s pension is not considered a paid carer),
Your health provider,
not be service provider for a residential service where you are resident.
Once the EPOA document is complete, Attorneys can use it to do anything with the Donor’s financial affairs that that person can do themselves, including selling property and operating bank accounts.
A valid EPOA must be set out in the legally required format, including a ‘certificate’ section that must be completed by an independent person to confirm that you, as the donor (the person making the EPOA), understands the powers being donated under the document and is not under pressure.
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A discretionary trust arrangement is one in which the assets provided to beneficiaries are not fixed in the trust instrument. Instead, criteria are generally given as instructions to the trustees, who will use their discretion to determine how the assets in the trust are disbursed, and to whom. Discretionary trusts are often established to help ensure that dependants are provided for after the death of an individual, particularly when those dependants are too young to make their own financial decisions.
If you have a particularly complex succession plan, a discretionary trust can provide the flexibility you need. This is particularly useful because you can appoint beneficiaries who have not even been born yet.
Discretionary trusts can help to ensure that your dependents’ financial situation is protected from unforeseen circumstances. Trustees have the freedom to appoint assets and beneficiaries as they see fit, within the criteria set out in the trust instrument.
If you have assets that you anticipate will grow at a faster rate than the government can tax them, a discretionary trust can help to mitigate the resulting tax burden for generations of your descendants.
Why Choose Haider Khan Legal?
Haider Khan Legal provides thoughtful, plain-language assistance with estate planning, estate administration, and related disputes. We take time to understand the client’s family, assets, responsibilities, and objectives so the legal work reflects their circumstances and wishes.
Start with a focused consult. Bring the Will (if any), the Certificate of Appointment (if issued), key correspondence, and any medical/financial records you have. We’ll map options, timelines, and next steps tailored to your situation.
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