Hagel Lawfirm
Menu Contact

Contact Today For Experienced Representation

Local 647-931-4244
Toll Free 1-800-615-6495

February 2017 Archives

Granting power of attorney as part of estate planning

As cliché as it may sound, it is important for a person to have his or her affairs in order. Estate planning is best done as early as possible, and updated periodically, in order to have everything squared away before it is too late. A key, but too often overlooked, aspect of estate planning is granting power of attorney, so here are a few words about this vital subject.

Getting estate planning in order before it's too late

Most people hate thinking about growing old, and by the time they reach a place of acceptance, time may be running out for taking care of important matters. Estate planning isn't something many young or even middle-age people consider, but putting affairs in order while one is still mentally agile can save a lot of difficulty down the road. Dementia, in particular, is an alarming condition that affects many men and women in Ontario and may impede the ability to make good choices.

Consider a trust during estate planning for securing large assets

Some people are fortunate enough to have acquired assets during their lives of such value that they are deemed worthy of being preserved for future generations of their family. Guaranteeing the survival of a key asset is an important part of estate planning. And while a will is the most common way to bequeath an asset in Ontario, a trust can sometimes be a better choice, as was the case with a recent transfer in another jurisdiction.