Real Estate & Estate Law
Please find below a brief overview of the Real Estate and Estate
Planning legal services offered by McLeod Clermont & Associates.
Real Estate
• Residential Sale
• Residential Purchase
• Mortgages
• Leases
Estate Planning
• Wills
• Powers of Attorney
• Estate Administration
Wills
A will is the instrument by which a person (the Testator) has the power to give to another person(s) all of the property to which he or she is entitled at the time of his or her death. In making a will, the Testator also appoints an Estate Trustee to administer the estate upon his or her death, and also appoints a Guardian to care for any children under 18 years of age who may be alive upon the Testator’s death.
All of the above decisions would be governed by Ontario’s Succession Law Reform Act if a person died without a will. The main purpose, then, of having a will is to appoint others to make these decisions upon your death rather than letting the government’s statute dictate what happens to your assets. In addition, without a will, your estate may experience administrative problems and extra expenses. The administration of the estate might also be delayed in the event of lawsuits brought by dependents or spouses who were not satisfied with their inheritance and who may have a legal entitlement to a greater share.
Powers of Attorney
A Power of Attorney is the instrument by which an individual appoints another person to make decisions for that individual. These instruments are often referred to as ‘living wills’. An individual may appoint another person to make medical decisions (Power of Attorney for Personal Care) or property decisions (Power of Attorney for Property) on their behalf. The purpose of this instrument is to ensure that a legally appointed person may make decisions for another, should that person lose the legal capacity to make their own decisions due to an accident, illness, or injury but while he or she is still living.
Estate Administration
Upon a person’s death, the Estate Trustee named in the deceased’s will is required to assist in the administration of the estate. This involves applying to the Court for a Certificate of Appointment to begin administering the estate, ensuring an estate bank account is opened, ensuring that tax returns are filed, ensuring that debts are paid, etc. Normally, an Estate Trustee retains a lawyer to assist with the application to the Court for the Certificate of Appointment and general advice and assistance with the administration.
Should you have any questions about these and other legal services available feel free to contact any of the professionals at McLeod Clermont & Associates in Ottawa.
For More Information Contact:
McLeod Clermont & Associates
1447 Woodroffe Avenue, Ottawa, Ontario K2G 1W1
Tel: 613-225-0037 Fax: 613-225-0921