They can help you understand:
- The elements of a will
- What happens if you don’t have one
- Powers of attorney and why they are important
- Special considerations when preparing your estate and care plans
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Planning for Different Needs
A lawyer can help you plan for different scenarios and needs when preparing your will.
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Blended family
Working with a lawyer to prepare your will can prevent conflict or misunderstandings if you have a blended family. A lawyer will help you consider the legal issues around your family structure so you can plan for the future.
Through a will (and perhaps an estate plan), a lawyer can work with you to:
- Identify your obligations to legal spouses (may include your ex-spouse, separated spouses and common law spouse)
- Identify your obligations to your children and legal dependents (may include obligations you’re not aware of)
- Build a plan with you that provides for spouses, children and dependents to meet your legal obligations and help avoid future family conflict
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Dependent living with a disability
Family members with disabilities have unique needs throughout their lives. Plan for your loved one’s future by working with a lawyer to put the right supports in place in your will.
Through a will (and perhaps an estate plan), a lawyer can work with you to:
- Create a thoughtful plan for your dependent living with a disability
- Determine how to preserve government benefits received for your dependent living with a disability
- Structure your estate so it will provide a steady stream of income to support your loved one with the help of someone that you trust to take over the role you played in that person’s life
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Your digital assets
Few of us think about protecting our online or digital assets after we’re gone. You may not have considered the value of those assets, and what losing them might mean to your loved ones.
Through a will (and perhaps an estate plan), a lawyer can work with you to:
- Identify your digital assets and those that can (or can’t) be transferred to your loved ones
- Protect the wealth you may have accumulated online through rewards points, cryptocurrencies or money raised on crowdfunding sites
- Protect against identity theft, privacy breaches and commercial losses that could negatively impact your family, your assets and your personal legacy
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Your global assets
With the increasing flow of people and assets across national borders, it’s a good idea to consider global tax and administrative implications for your estate. A lawyer can help you navigate different local, national and international laws and the impact they may have on your assets, your family and loved ones living in other countries.
Through a will (and perhaps an estate plan), a lawyer can work with you to:
- Identify your assets in different countries, and determine what laws apply to those assets for your will
- Understand whether you are considered foreign or multi-resident with regards to your will
- Know whether you have foreign (or multi-resident) beneficiaries like children, parents, spouses or others and determine what laws apply to them for the purpose of your will
- Craft a will that considers cross-border issues and allows for the efficient transfer of your assets to loved ones