Wills, Trusts and Estates

Don’t let the division of your assets and the amount of taxes to be paid be decided by anyone else but yourself. There are a number of strategies that can be applied before a person dies to minimize or avoid estate administration tax. Some of these strategies might include creating multiple wills, gifting assets during a

person’s lifetime, naming a beneficiary on a life insurance policy, holding assets in a trust, and much more. Speak to Tailor Law about estate planning and administrative services to secure your family’s financial future. Do you have a dispute? We can assist by representing you in estate litigation.

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Estate Lawyers in Mississauga

What Is An Estate?

An Estate makes up the assets, property, and debts of a deceased person. If a person passes and leaves behind a car, bank account, and several pieces of property, all of these items will belong to the Estate once that person passes away. This also includes debts, which means that all debts, liabilities, and any mortgages, must be paid off prior to the beneficiaries receiving anything that has been set aside.

A beneficiary is the person/persons who are named in the Trust or Will that has been left by the deceased. There can be more than one beneficiaries assigned. A beneficiary may have to share the proceeds at the time of the disposition, based on the instructions of the deceased individual.

Common Relating Issues

The most common issues include taxes to be paid on estates, representative and other professionals that must be contacted in the estate administration, the distribution, and possibly claims made against. Regardless of whether your question is simple or complex, our law firm and team of estate lawyers are here to provide easy, accessible services to meet your needs.

How Is An Estate Distributed?

An Estate is typically distributed based on the instructions of the Will. If the person who has passed without a Will, this is known as “intestate.” Ontario’s Succession Law Reform Act sets out how the Estate will be divided and distributed. In understanding Ontario’s Succession Law Reform Act, the legal team at Tailor Law will outline the distribution of the Will and will detail various scenarios in which different parties could be entitled to making claims of the Estate.

Careful, Resourceful & Efficient

Estate law is an area that deals with the distribution and management of a deceased person’s assets and possessions. The lawyers at our law firm approach when providing advice is simple: we offer honest and candid counsel to pursue suitable results on any given issue. We accomplish this by providing a free consultation on your issues, goals, and objectives.

Speak to our lawyers for estate law. We understand that this area can be be challenging and often daunting, and as such, we’re here to support your needs with effective services: estate administration, estate litigation, planning, distribution, and the various other relating tasks. Our estate lawyer cost is highly competitive within Ontario and the Toronto / Mississauga area.

 

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