Assiniboia Law Office can provide skilled legal assistance in the preparation of wills and other legal documents pertaining to your estate. We are a highly competent estate planningfirm that will help ensure your wishes are carried out following your death.
A last will and testament is an important legal document that will make sure your property and assets are distributed according to your desires. It also names a person of your choosing to be the executor or administrator of your estate, as well as the guardian of any minor children. When a person dies without a will, property and assets are divided according to intestacy laws, which can result in people that you would like to leave your assets to receiving less than your intentions or nothing at all. This can become a huge problem when young children of a deceased person have greater needs than other next-of-kin that are entitled to share in the estate under intestacy legislation. Without a named executor, a next-of-kin or creditor that you would never have chosen to administer your estate, may also be entitled to petition the court to be put in charge of your assets.
Contact a Winnipeg estate planning attorney to find out more about how a last will and testament can protect your interests following your death.
A last will and testament is one of the most critical documents in estate planning. The purpose of a will is to:
Our firm can provide the skilled legal assistance needed in the preparation of your last will and testament, and make sure your final wishes are accomplished.
There are many different types of legal documents that require the designation of a beneficiary, including wills. If you have decided to add or remove a beneficiary from your will, contact a Winnipeg estate planning lawyer for immediate legal assistance. It is vital that any beneficiary additions or deletions are correctly executed to ensure the continuing validity of your will, and that the change will be upheld if challenged. A competent attorney will also make sure that any new beneficiaries are properly identified to prevent delays in asset distribution.
Assiniboia Law Office is extremely experienced in the preparation of wills and can guide you through the process of adding or deleting a designated beneficiary. We are a capableestate planning firm that can be relied on for legal aid in any estate matter. Our firm has assisted clients with their estate affairs for over two decades, and can provide competent counsel on how to achieve your goals.
Wills should be reviewed when there are major events occur in your life that might require updating or revising beneficiary designations. This is includes a marriage, divorce, the death of a spouse, child, grandchild, parent or sibling; or other significant personal or financial changes. You may also want to review other types of documents requiring beneficiary designations from time to time, to determine if any similar inclusions or exclusions are needed, such as:
New beneficiaries can be included in your will, or existing beneficiaries removed, with the help of a qualified lawyer from our office. Please call us today if you are considering a change of beneficiary.
It may be necessary at various points in time to make changes in your will. A codicil is a legal document that amends a will. It can be used to make changes in designated beneficiaries and other small revisions so that the entire will does not have to be rewritten. If you are considering making minor changes to your will, contact Winnipeg estate planning attorney to discuss your proposed amendments, and for help in preparing a codicil. A skilled lawyer can advise you on how to amend your will, and make sure the codicil meets the necessary legal requirements.
A will is a legal document that names an executor of your estate and describes how your property and assets will be distributed following your death. It can also name a guardian for any minor children. The basic requirements for writing a will are:
Having a qualified attorney prepare your will is important, especially if there are many assets to distribute. It can prevent disputes following your death, and ensure that your intentions regarding the distribution of your property and assets are carried through.
Assiniboia Law Office is a knowledgeable estate planning firm that can provide the legal assistance you will need in the preparation of your will. We have extensive experience in all aspects of estate planning, including wills. Attorneys at our firm can also help you amend an existing will with a properly executed codicil.
There are two broad categories of trusts, an inter vivos trust and a testamentary trust. An inter vivos trust is created by a deed or instrument during one’s lifetime. A testamentary trust is created under one’s will and comes into being upon death of the testator.
A trust involves a relationship between the “settlor” who settles the trust property; a “trustee” who administers the trust; and a “beneficiary” who enjoys the fruit of the trust property. Trusts can be set up for different types of situations, including family trusts andspecial needs trusts. Because the beneficiary never holds legal title to the trust property, the trust property will be protected from creditors of a beneficiary, and is an excellent planning tool to provide for a spendthrift beneficiary or beneficiary with special needs. A trustee can either be an individual, a trust company or both. All trustees have a fiduciary obligation to the beneficiaries of the trust, and must act in their best interests at all times.
To find out more about trusts,contact Winnipeg estate planning lawyer from Assiniboia Law Office. We are an experienced and reliable estate planning law firm that can provide skilled legal advice regarding trusts, the duties of executors and acting executors as well as provide powers of attorney.
There are many different reasons to have a trust, such as:
Our office can answer your questions about trusts, wills and how best to ensure your assets are distributed according to your wishes after your death.
A family trust is a way of distributing a person’s property or assets with going through probate court, and reducing or eliminating estate taxes. It is considered a separate legal entity under the Income Tax Act. A family trust can be established during a person’s lifetime or after their death. If a family trust is established while the person is still alive, it can be used in other ways to reduce personal income tax obligations.
Creating a trust involves the transfer of assets to a trustee, who then controls and manages the property for one or more beneficiaries, who will receive the assets at some later point in time. The trustee is expected to act in the best interests of the beneficiary when managing the trust.
To find out more information about trusts and family trusts, contact a Winnipeg estate planning attorney. A competent estate planning lawyer can provide valuable assistance regarding trusts, wills and other estate matters to ensure your assets are distributed according to your desires after your death.
Assiniboia Law Office is a highly experienced estate planning firm that can advise you on how best to manage your assets and ensure that they are properly distributed when you die. We have helped many clients develop effective plans that protect their interests, reduce taxation and make sure their property will go to the appropriate beneficiaries. Our firm can provide skilled legal assistance with wills, trusts and other vital estate documentation.
There are many benefits to a family trust, including
We can review your estate and discuss your options regarding property and asset distribution, and other concerns regarding your personal and financial affairs.
An inter vivo trust is a trust that is established while a person is still living. Trusts are comprised of a settlor, a trustee and one or more beneficiaries. The settlor is responsible for setting up the trust, the trustee administers the trust and the beneficiaries will, at some point in time, be the recipients of the trust’s assets. There are many benefits to an inter vivo trust that a Winnipeg estate planning attorney can discuss. Assiniboia Law Office is a competent estate planning firm that can provide knowledgeable legal counsel and advice on inter vivo trusts and other types of estate planning. We can review your estate and create a plan to meeting your specific needs and requirements. Our firm will work to ensure your assets are properly managed and distributed according to your wishes following your death.
A will is one of the most essential legal documents in estate planning. Wills explain who will receive your property and assets when you are no longer alive. Trusts, such as an inter vivo trust, are also a valuable estate planning tool. Some of the benefits of an inter vivo trust include:
Consult an estate planning lawyer from our office to find out more about trusts and how to make sure your desires are upheld when you are no longer living. We have assisted many clients with their estate planning needs and can skillfully guide you through the process of creating legal entities and documents that will protect your personal and financial interests.
A trust is a legal entity that includes a settlor, trustee and beneficiaries. The settlor is the person who establishes the trust. The trustee is the person designated to manage the trust, and the beneficiaries are the family members and other individuals who will receive the property and assets of the trust. There are two general categories of trusts, a testamentary trust and an inter vivo trust. A testamentary trust is created through a will and becomes active following the death of the settlor. An inter vivo trust is established while the settlor is still living.
There are various types of testamentary trusts that can be set up, depending on the situation, including a spousal trust, a minor child trust and a special needs trust. A testamentary trust can be extremely adaptable, such as including the terms and conditions under which assets will be distributed to beneficiaries, or leaving decisions regarding assets and property up to the trustee.
Contact a Winnipeg estate planning attorney if you are considering establishing a trust for reliable legal counsel. A competent lawyer can review your estate and provide knowledgeable advice on how to ensure your property is distributed the way you want after you die.
Assiniboia Law Office is a skilled estate planning firm that can assist you in the preparation of wills and the establishment of trusts. We are highly experienced in all aspects of estate planning, and can explain the various ways you can legally protect your interests.
Some of the advantages of establishing a testamentary trust include:
Our office can provide sound legal advice regarding your estate and how best to establish a testamentary trust.
There are two primary categories of trusts, an inter vivo trust and a testamentary trust. An inter vivo trust is established by a settlor while he or she is still alive. A testamentary trust is activated through a will following the death of the settlor. Once a trust has been established, it is managed by a trustee. A trustee can be any legal entity, individual or otherwise, including the executor of the settlor’s will, another named person, a legal office, an accountant or bank. There are many legal and financial details that often need to be addressed when managing a trust. Depending on the terms of the trust, an administrator may be required to maintain regular contact with beneficiaries, pay debts, invest financial assets, prepare and file tax returns, distribute assets and/or income.
If you are the executor of a trust and have questions regarding its management, including asset distribution, investing, transfer of assets, contact a Winnipeg estate planning lawyerfrom the Assiniboia Law Office for reliable legal advice. Our office has over two decades of experience in estate planning and trust administration. We are intimately familiar with trust laws, and are well-versed in trust processes and procedures. Our firm can provide sound counsel to trust administrators, in addition to qualified trust administration services.
A trust administrator must know and abide by the terms of the trust, and make fair decisions in the best interests of the beneficiaries. There are many reasons why you should consider establishing a trust, including:
A reliable attorney from our firm can guide you through the process of establishing a trust, and help ensure that it is properly administered.
About Special Needs Trusts
A special needs trust is a trust established to provide the supplemental needs of a disabled person. It allows a disabled person to receive fund without putting their eligibility for government assistance programs in danger. The funds in a special needs trust are typically allocated to enhance the disabled person’s quality of life. In some cases, the trustee may also decide to distribute income for food, clothing and shelter if it is in the best interests of the disabled beneficiary.
Special needs trusts can be established as an inter vivo trust during the settlor’s lifetime, or following the death of the settlor as testamentary trust. A trustee is designated by the settlor to administer the trust according to the document’s terms, which can include allowing the trustee to make independent decisions regarding the management and allocation of trust funds.
A Winnipeg estate planning lawyer can provide knowledgeable legal advice regarding the laws pertaining to special needs trusts, and how best to proceed in establishing one for a disabled member of your family.
Assiniboia Law Office is a highly qualified estate planning firm with experience in establishing special needs trusts. We understand the importance of providing for a disabled family member and will assist you in preparing a trust that addresses your concerns and meets their special requirements.
The establishment of a special needs trust can be included as part of your will to make sure the disabled member of your family is provided for following your death. The funds from this trust can be used for any of the person’s unmet needs such as:
An attorney from our firm should be consulted at once to review your estate and discuss your desires and intentions regarding a special needs trust.
Power of Attorney & Enduring Power of Attorney
A power of attorney is a legal document that allows a person (the donor) to give another individual (the attorney) the right to act on their behalf. It is used to give the attorney the authority to make some or all of a person’s financial decisions. More than one person can be appointed a power of attorney, either jointing with another individual or successively. Unless the power of attorney is revoked, it remains in effect unless the donor becomes mentally incapacitated, or until the donor’s death. A power of attorney can be amended to include a clause that will keep the document in effect even when the person is no longer mentally competent. When this clause is added, the document is called an enduring power of attorney.
An enduring power of attorney enables an individual to decide ahead of time who will manage their finances when they are no longer able to do so. It can help protect a person’s interests and ensure their wishes and intentions are carried out. In situations where a person becomes mentally incapable and there is no enduring power of attorney, the court will put someone in charge of that person’s affairs.
A Winnipeg estate planning lawyer can provide reliable advice regarding powers of attorney and help you prepare a power of attorney or enduring power of attorney.
An enduring power of attorney is an important document in estate planning. It will make sure that your desires as stated in your will and other estate-related documents are upheld. An enduring power of attorney must be witnessed by a person in one of the following professions in Manitoba:
Assiniboia Law Office can provide legal advice and assistance in the preparation of a power or attorney or enduring power of attorney. We are a skilled estate planning firm that has helped clients with their estate needs for over two decades.