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The preparation of your Last Will and Testament and Power of Attorney for Care (or Living Will) represents an important step in the management of your family’s financial and legal affairs. A valid, carefully planned Will protects your assets from unwarranted taxation and limits potential probate fees payable by your Estate. Most importantly, it ensures that your Estate is shared only among those you have chosen.
Your Power of Attorney for Care is a Living Will document that empowers one or more trusted persons to make medical decisions on your behalf in critical circumstances, where you may be unable to provide informed medical consent. Careful Estate planning often requires collaboration between your lawyer, accountant and financial advisers, Your lawyer can work with you and your family to achieve the optimal plan for your Estate.[/vc_column_text][/vc_column][/vc_row][vc_row row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” text_align=”left” box_shadow_on_row=”no”][vc_column][vc_column_text]
Toronto Estate Planning Law Firm
Individuals and families have numerous wealth protection needs. Common questions and concerns include:
- How can I shield my estate and my children from taxes upon my death ?
- How can I protect the inheritance I leave my children in the event of my children’s matrimonial breakdown or divorce ?
- How can I pass down or transfer special assets such as a business or cottage ?
- I have real property located in more than one country. How is foreign property transferred upon death, and can a will drafted in one country conflict with a will drafted elsewhere ?
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At Haghani Law, we provide a variety of solutions to all of your concerns. Through domestic contracts, we can protect your property against claims in the event of marital breakdown and death. Using trusts and multi-jurisdictional wills we can minimize tax obligations and ensure that property in other countries is transferred efficiently and at minimum expense. And through our probate fee minimization strategies, we can help shield your assets from high probate taxes and an increasingly expensive and regulated probate process.
For more information about how our estate planning services can help your situation, we encourage you to contact our Toronto law firm today and discuss your needs with our skilled lawyers.
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Will Planning Law Firm
Will planning is vital in order to distribute your estate in a way that reflects your intentions and wishes. If you die without a will, the law will determine how your estate is distributed. Additionally, it makes sense to take advantage of numerous opportunities to minimize and even prevent fees and taxes upon death through careful will planning.
We work with clients to provide tailored and cost-effective will planning services to protect your wealth for future generations. By way of example, strategies can include :
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- Splitting income between individuals and testamentary trusts provided under your will, to reduce income taxes
- Using multiple wills to minimize probate taxes
- Using trusts under your will for general wealth protection purposes, tax minimization, protection against matrimonial and creditor claims and succession of capital to your chosen beneficiaries, including children and grandchildren
Each country has different laws governing wills, probate, estate administration and the transfer of property. If you own property in multiple jurisdictions, we can work with foreign legal counsel to create separate wills, where appropriate, that are integrated, do not overlap or conflict, and provide clear directions for the transfer of assets and payment of taxes and expenses and, as well, to consider other available planning options.
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Work with Legal Professionals
We have assisted numerous individuals and families in the completion of Wills and Powers of Attorney for Care. We also act in contested Estate Litigation matters throughout Toronto and Ontario. Our service is discrete, confidential, and cost-effective. Initial consultation is available without fee or obligation. Contact us to arrange a consultation.[/vc_column_text][/vc_column][/vc_row]
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