Expert Tips from Winnipeg Wills and Estate Lawyers

October 15, 2024 Published by Pollock & Company
Category: Legal Aid, Wills and Estates

Winnipeg Wills and Estate Lawyers: Why a Will is Important

Planning for the Inevitable: The Importance of Having a Will

It’s never pleasant to think about death, but it is an inevitability that we must confront. As adults, it is crucial to consider our mortality and plan for the future. Whether you have children or are single, having a legal will in place is essential for managing your estate. Thoughtful planning, often guided by experienced Winnipeg wills and estate lawyers, ensures that your loved ones are cared for, allowing you to decide who gets what and how your estate should be handled.

Proper Planning

The first step in estate planning is to create a will. This binding document outlines how you want your property and finances to be managed after your passing. If you die without a will, your wishes regarding your belongings may go unfulfilled, and this can lead to disputes among family members. A will also allows you to designate guardians for your minor children, ensuring that your preferences are respected.

Most people have a clear idea of who they would like to care for their children and who should inherit their estate. By having a will in place, you can ensure that your wishes are executed as efficiently as possible.

The Probate Process and Your Executor

With a will, you can name an executor—someone you trust to oversee your affairs and ensure that the details of your will are executed after your death. This includes tasks such as cancelling credit cards, paying bills, and notifying banks. By designating an executor, you relieve your family members of this burden during a difficult time. It’s important to choose someone who is honest, organized, and committed to fulfilling your wishes.

An experienced lawyer can provide you with the guidance you need to create a solid estate plan. To learn more about this process, contact Pollock & Company to speak with Winnipeg Wills and Estate lawyers today.

Contact our Winnipeg wills and estate lawyers right now.

Do You Really Need a Will?

If you want to control what happens to your property after you pass away, it’s essential to have a will. A well-drafted will specifies who will manage your estate and outlines the distribution of your assets. You can also name a guardian for your minor children.

Without a will, your estate will be divided according to provincial law, which may not reflect your wishes. By having a lawyer draft your will, you retain control over your property and ensure your preferences are honored.

In addition to a will, we recommend having Pollock & Company draft a General Powers of Attorney and a Health Care Directive as part of your estate plan. A General Power of Attorney allows you to appoint someone to manage your financial affairs, either immediately or when a medical professional deems you incapable of doing so. This authority “springs” into effect under those circumstances.

A Health Care Directive enables you to name a proxy to make medical decisions on your behalf when you are unable to communicate your wishes. It can also specify the types of medical treatment you do or do not want to receive.

Without these documents, you lose control over important personal decisions regarding your estate and property, particularly if you become incapacitated. Comprehensive estate planning will provide peace of mind for you and your family.

In case you have any questions or concerns, you are always welcome to contact Winnipeg law firm Pollock & Co by phone or email to have an initial free consultation with Winnipeg wills and estate lawyers.