- Hours of Operation: Monday to Friday 9:30 am – 6:00 pm
The process of dividing properties when a loved one is no more is often overwhelming and hard to achieve. This is why we make the situation easier at Luthra law by following the process gently for all our clients. We have experienced lawyers in operation in Whitby, Toronto and Barrie. If you want a lawyer closer to your residence, you can choose from any location and be sure they will give you satisfactory service.
Experienced Wills and Estate Lawyers, Toronto
Partnering with Luthra law lawyers guarantees excellent counseling sessions and proper mediation of all assets. Our trained team of wills and estate lawyers are competent to take care of you in the following areas;
Settlement of estate without a will
This type of settlement is also referred to as intestate succession. When a person dies without having a will, the properties left in the person’s name will be split according to the Ontario succession law reform act. Some of the foundations of this distribution include:
- Every spouse of the deceased will be allocated a share called a “preferential share”. This preferential share is not the total amount of the estate but a sum of $200,000 (applicable to persons that died before the 1st of March 2021) or $350,000 (if the persons died after the 1st of March 2021. After the preferential share has been signed over to the spouse, other dependents can receive the remaining assets.
If there are no children but the spouse is alive, the entire estate will be allocated to the spouse. - If the spouse is also deceased, without any related children, the next in line is the next of kin, and the Succession Law reform act will choose that person.
- If the spouse is also deceased, without any related children, the next in line is the next of kin, and the Succession Law reform act will choose that person.
- Children below 18 years will not be given their share until they are of age and will be kept by the Ontario office of the Public guardian.
Settlement of estate with a will
Another name for this settlement is Testate succession, which is only administered when there is a will to guide the process. Our Luthra law wills and estate lawyers are available to help get the best out of the will reading and property allocation. This process will be done professionally to keep the will valid and without contest. The will should be distributed when all these are observed.
- The means of receiving the income for minor beneficiaries before the standard age of 18.
- The minor beneficiaries’ trustee
- The parent or guardian’s ability to hold on to the money of the minor beneficiary till they mature
- The acceptable age the minor will be given their assets either in full or installments.
- Allocation of the household properties
We also give the following services when you partner with us:
Creating and updating wills:
We don’t only do will creation but advise our clients to update them, especially when the previous circumstance has been changed. The situations that need updated wills are:
- If there is a separation from your spouse
- If there is a new beneficiary or you need to replace or remove a previous beneficiary.
- If you notice a change in tax rules.
- If the previous calculated wealth or property has been changed
RELATING TO POWERS OF ATTORNEY
If you want to overcome disputes, then the best solution is to choose the right powers of attorney. The two main powers of attorney that you can relate to in any situation are:
Powers of Attorney for Personal Care:
You won’t have to worry about decision-making when there is an urgent need for medical attention. All your care will be personally handled by the person designated.
Powers of Attorney for PROPERTY:
All your financial matters will be handled by the attorney you choose in this area.
It is important to note that if you do not appoint an attorney for your property or care, the court can do so under the Substitute Decisions Act. But if you make the appointment yourself, the court will not rule over your decision of a power of attorney. The attorney will interfere in case there is a dispute as they are the best persons to explain your choice to the court.
Why choose Luthra Professional Law Corporation
At Luthra law, you can get the best representation at multiple locations. We operate in Whitby, Toronto, Barrie and many other places, aiming only to give our clients the best.