Hagel Lawfirm is open for business. We are happy to assist the community with their legal needs. We provide safe environment for our employees and our clients. Our offices are equipped with UV light air sanitizers and our ventilation system is working with fresh, not recycled air. We are accommodating clients' meetings in person, by videoconference and by phone.
Determined & Experienced
Estate Litigation Lawyer

The estate plan is complete. Now what?

On Behalf of | Mar 21, 2022 | Estate Planning

Writing an estate plan can take a lot of thought and some time. But when Ontario residents have finished their estate planning documents, what happens then? For one thing, an estate plan should typically be discussed with loved ones. In addition to allowing a select someone to be prepared to be an executor, giving everyone in the equation an idea of what to expect can help make sure the last wishes of the testator are carried through smoothly. 

An information package can be helpful

To impart what an estate plan contains, an estate owner could create an information package for loved ones containing important information in the event of death. Some of the things that could be included are: 

  • A copy of the will and other documents, such as powers of attorney, health care directives, instructions for a funeral, among others 
  • A list of benefits to which certain family members may be entitled, such as pensions and life insurance policies 
  • Names of banks and account information, investments, and credit card accounts  
  • All digital assets like Bitcoin and other cryptocurrencies and information on social media accounts including passwords 
  • A list of debts, such as a mortgage, any outstanding loans and any lines of credit 
  • A list of major assets like real estate, heirlooms, antiques, valuable jewelry, art and anything else that has monetary value 

A package should be presented to the future executor, one’s spouse, one’s adult children, one’s lawyer, one’s accountant and anyone else the testator wants to have the information. 

When they know what an estate plan contains, it can ultimately help to keep peace in one’s family in the years after the estate owner has passed. This is one of the main reasons that having professional support and assistance when creating and finalizing a comprehensive estate plan can prove invaluable. An experienced lawyer can answer all of one’s questions and concerns and help navigate any issues or difficulties that arise during this process.  

Archives

Contact Today >>