Why Is It Important To Have A Lawyer Look At Your Will?
Having a written will allows you to indicate what should happen with your estate after you pass. If you do not have a written will at the time of your passing, you leave the decision of what happens with your estate and how it is distributed to the courts. Not only does this mean that your assets and property may end up with someone other than those that you intended, it also means your estate can incur thousands of dollars in legal fees to settle any disputes and distribute your assets.
The benefits of having a will are simple and clear, a will allows you to decide who your beneficiaries are, and what they are entitled to. A will also ensures they have access to your estate right away. But, is a lawyer required to complete a will?
The short answer is no, a lawyer is not required to have a last will and testament written, however a lawyer will provide their expertise and advice when it comes to drafting your will to ensure it reflects your wishes using clear directions without the need for clarity.
When you have a family law attorney draft your will, they will make sure your will follows all Ontario laws, they will ensure your wishes are stated clearly so that they are carried out exactly as you wished, they will makes sure your estate can be settled quickly, if you have young children they will outline your wishes for their guardian and they will help reduce the costs and taxes your beneficiaries may face after you pass.
A question we get asked often is; Why spend money on a lawyer when there are plenty of free websites outlining how to write a will or even low cost do it yourself kits where all that is needed is to fill in the blanks?
The simple answer is that there is a higher risk of ending up with an improperly drafted will when you take these avenues. Even though many of the online sites providing direction on how to write a will and these do it yourself kits have been reviewed by an experienced lawyer, they are not tailored to your specific scenario and may not follow our provincial laws. An improperly drafted will can lead to your planned beneficiaries to not receive all the assets you intended, additional legal fees been incurred by your estate and your assets being tied up for months or even years.
If you decide to write your own will or use a fill in the blank will service, most family law attorneys are willing to review your will to ensure your will meets all provincial laws and outlines your wishes clearly. But, in doing so, there is now guarantee that this will save you money on lawyer fees.
Hiring a lawyer to help complete your will does cost money, but it ensures your will reflects your wishes and that all aspects have been considered. The money saved by choosing to write your will on your own or by using a will kit is negligible if your estate ends up incurring thousands of dollars in legal fees to settle any disputes or to clarifying your intentions due to it being improperly drafted.
When it comes to ensuring your estate is distributed as you wish and your loved ones are taken care of after you pass, make sure you consult a lawyer. At AGS Law we offer comprehensive family law services in Barrie and South Eastern Ontario, our team will provide you with legal guidance and assist with preparing your will. Please give us a call today 705-735-0003 and let us help you.