Creating An Effective Estate Plan

Estate planning is important for everyone, regardless of the size of their assets. The process encompasses a wide range of personal and legal considerations, including:

  • Wealth management planning
  • Designate a guardian for your children
  • Special provisions for those in your family who require special care
  • Creation of trusts for minors
  • Charitable donations

Lawyers at Polak McKay & Hawkshaw provide you with estate planning services that are unique to you and your family — tailored towards your individual objectives and concerns. Located in Ajax, our firm's counsel has in-depth knowledge of estate law in Ontario and can advise you on its effect on your ability to execute your individual intentions.

Drafting Testamentary Documents

Discussing estate planning concerns with our lawyers is beneficial to ensure that estate documents are drafted correctly. Among the legal tools we can prepare are:

  • Wills to designate who will receive assets, including items of special significance such as family heirlooms
  • Trusts for a variety of purposes, including Henson's trusts for individuals with disabilities

We want you to feel comfortable expressing yourself on the more personal decisions required in estate planning. We will do our best to incorporate and protect your legal rights on important and deeply personal matters such as:

  • Funeral intentions
  • Provisions of personal effects to specific people
  • The bequest of specific amounts to family or friends

We also help clients understand the certificate of appointment (formally known as "probate") process. Part of this process includes the payment of an estate administration tax. With efficient estate planning, we can highlight ways you can potentially reduce the payment of this tax, such as utilizing assets like life insurance, registered savings plans and investments.

Drafting Powers Of Attorney

These are documents that are effective while a person is alive but if he or she has lost capacity. they are used to designate someone you trust to make decisions for you if you cannot make them yourself.

There are powers of attorney for property that allow the named attorney to make decisions relating to your assets. There are also powers of attorney for personal care that empower the named attorney to make decisions relating to your health care, including end of life choices.

These documents provide peace of mind if we or our families find themselves in an emergency situation or one in which an elder family member needs assistance. It is important to have these as an instrument to save costs and allow our family to assist, rather than having the courts involved.

Corporate Wills And Succession Planning For Businesses

In addition to helping you determine who will receive your assets, our estate planning lawyers can assist with a succession plan for — or relating to — your business. The preparation of a corporate, or excluded properties will, may be an essential tool for straightforward succession planning for owners of small, medium or large sized businesses.

It may also result in the minimization of court involvement or the payment of estate administrative tax upon your passing, thereby preserving your business and its assets for use by your loved ones.

Contact Us

Estate planning need not be complicated. Talk to us about your specific objectives and needs. Please call us at 289-460-1506 or 800-787-1801 toll free, or contact us online to make an appointment with an estate lawyer at our firm.