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Sep 13
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8 Considerations When Making a Will For Your Blended Family (Including Mutual Wills)

By Estates, Wills

Preparation for a secure future is a fundamental responsibility towards your loved ones. It might appear daunting, especially in the case of blended families, but understanding the process can significantly reduce the burden. Here are eight crucial considerations for creating a will for your blended family, highlighting the importance of mutual wills:

1. Children’s Inheritance

Equal distribution is the foundation of harmony. A will ensures a fair inheritance amongst all your children, irrespective of whether they are part of your current or previous relationships. What is “fair” though is as individual as you are. You’re going to need to discuss that with your spouse or partner.

2. Providing for Your Spouse

The financial well-being of your spouse is another critical aspect. A well-structured will takes their future needs into consideration, ensuring sustenance and comfort even in your absence. It will also need to consider what happens depending on who goes first.

3. Guardianship of Minors

If there are minor children in your care, determine who’d be best suited to assume guardianship. Although this may be a difficult discussion, it is essential for the welfare of your children. Remember that, if your minor child has another living parent, that other parent will likely have the exclusive right to care for the children. While that’s not always the case, it’s something to consider.

4. Personal Possessions

Family heirlooms, sentimental gifts, or any item of personal significance requires careful consideration. Be explicit in your will to alleviate any unnecessary distress or disputes later.

5. Setting Up Trusts

Trusts are an excellent way to safeguard your children’s future financial well-being without overwhelming them with a significant amount at once—particularly beneficial for minor children or those not yet prepared for financial responsibility.

6. Considering a Mutual Will

A mutual will, sometimes called contractual wills, is a binding agreement between two people, typically spouses, to carry forward mutual promises even after one partner passes. This agreement’s serious nature obligates the survivor to uphold and respect the departed’s wishes, providing additional security for your family. Courts will usually uphold this type of will, if drafted correctly, even if the surviving spouse changes their will after the death of the other spouse. It can be hard to think that this might be an issue, but wills are about piece of mind and serious consideration should be given to exploring this as a possible option.

7. Open Communication

Maintaining transparency with your family about your will’s contents is vital. It not only eliminates confusion but also prevents potential disputes in the future. These discussions will absolutely involve your spouse or partner, but in many families discussing these issues with the (adult) children can help give clarity not only to them, but to you too.

8. Professional Legal Advice

Professional guidance could prove invaluable during this process. Legal advisors ensure each aspect of your will is addressed appropriately, helping you draft a comprehensive document that accurately reflects your wishes.

Creating this legacy for your blended family—through a well-planned will—does not have to be a challenging process. Remember, professional help is just a call away. Reach out to us at any time; we’re here to support you every step of the way.

Sep 07
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Choosing an Executor for Your Will: Top 5 Things to Consider

By Estates, Power of Attorney, Wills

Creating a will is a bit like planning a neighbourhood gathering — you’re figuring out who gets what (picture the potluck dishes) and ensuring things run smoothly. And just like you’ need a coordinator for the party, you need to pick an executor for your will.

Your executor is like the captain of your post-life team, steering your affairs in the direction you wish. So, let’s stroll together through the top 5 things to consider when choosing your own will executor.

1. Trustworthiness

Just like you wouldn’t hand your house keys to someone you don’t trust, you shouldn’t select an executor you don’t have faith in. After all, they’ll be taking care of distributing your assets according to your wishes. Make sure the person you select is known for their integrity and honesty.

2. Organizational Skills

Handling a will involves a lot of paperwork and deadlines. Your chosen executor should be someone who’s good with details, timelines, and, let’s face it, a bit of bureaucracy.

3. Communication Skills

You’d want someone who knows how to diplomatically deal with Uncle Bob arguing over your famous lemon pie recipe, right? Much in the same way, your executor should bravely and tactfully handle any family conflicts that might pop up.

4. Availability and Location

Consider choosing an executor who is relatively local to you. This is very much like choosing a neighbour to water your plants while you’re gone. Having someone close-by can make the process smoother and faster, since they’ll easily attend to necessary paperwork and meetings. If you’re considering someone who lives outside of Manitoba, talk to us about that – there may be considerations ranging from the practical to the expensive (from a tax standpoint) that we’ll want to talk about.

5. Professional Assistance

Lastly, know that your executor can hire professionals to help, like us, your friendly neighbourhood lawyers. Any fees for legal assistance come out of the estate, not your executor’s pocket.

 

Choosing an executor is a critical step in creating your will. It’s all about making sure someone you trust has got things under control, just like the trustworthy neighbour you’d leave a spare key with. Remember, at Wolseley Law, we’re here to help navigate these decisions with you. Come and chat with us about your options.

Sep 07
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Crafting a Will in Manitoba: A Step-by-Step Walkthrough

By Estates, Power of Attorney, Wills

We get it, the thought of sitting down to craft a will isn’t exactly a walk in the park. But when it comes to safeguarding the future of your loved ones and your hard-earned assets, it’s absolutely worth it.

Allow us to guide you through the steps to creating a will in Manitoba – we promise, it’s less complicated than you think!

Step 1: Get Started (Don’t worry, we’re here with you!)

First things first, take a deep breath. Understand that you’re taking a crucial step towards ensuring security for your loved ones. Now grab a pen, some paper, and let’s gather a list mentioning all your assets (like your house, car, savings, investments) and personal items of real or sentimental value (items of jewellery, art, or even your well-cared-for houseplants!). We’ll send you an intake form to start thinking about these things, if you’d like.

Step 2: Choose the Beneficiaries

Next, think about who you want to pass these assets onto. These folks are known as your beneficiaries. They can be anyone you wish – your kids, other family members, friends, even a good cause that you feel deeply about.

Step 3: Name Your Executor

Now, choose a trusty person to carry out the terms of your will. This is your executor, (kind of like that reliable friend you’d nominate to water your plants while you’re away). This should ideally be someone you trust, who’s organized and impartial. See our hints on choosing an executor, here.

Step 4: Guardianship Decisions

If you have children under 18, it’s crucial to think about who you’d like to take on guardianship duties should something happen to you. If you have kids this is likely the main reason you’re making a will, so this decision needs careful thought and plenty of discussions with potential guardians.

Step 5: Create the Will

Ready to get going? Great! We’ll meet with you to take instructions from you regarding what you might want in your will. We’ll have lots of questions for you, but if you’ve done a little light prep work we won’t be asking anything that you won’t already know the answer to. It’s a conversation, not a quiz!

Step 6: Sign and Witness

In order for a will to be legally valid in Canada, it must be signed in the presence of two adult witnesses, who aren’t beneficiaries or the spouse of a beneficiary. Typically that’s two people from our office who are there to make sure that the witnessing complies with the law around wills.

Step 7: Keep it Safe

Lastly, we’ll send you home with your will. Find a safe and secure place to store your will where your executor can access it when needed. Make sure to tell your executor where you’ve kept it. This is often just a secure spot in your house.

And voila! You’ve successfully crafted a will. Remember, setting up a solid will is all about making things as easy as possible for your family and friends – let us help make that process a little easier for you.

May 09
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Dealing with pets in your will and estate

By Estates, Pets, Power of Attorney, Wills

You love your pet, and you want to make sure that he or she is taken care of after you’re gone. You may not know how to do this, but don’t worry: It’s easier than you think! In this article, I’ll cover the basics of estate planning for pets and how it can help the dog, cat, iguana or whoever you have in your life continue to be a good boy even after you can’t help them anymore. Because who’s a good boy? Your pet’s a good boy.

Pets are part of the family, so they should be protected and provided for in your estate plan along with other loved ones and assets

Pets are part of the family, and they should be protected and provided for in your estate plan along with other loved ones and assets. Pets are not just property, they are family members. They have feelings and emotions that can suffer when they lose their owner or guardian. In some cases, these animals have been with an individual longer than any human friend! They deserve to be included in your will as well as being cared for by someone who will love them just as much as you did when alive (or even more).

Plan early.

It’s never too early to start thinking about what will happen to your pets after you pass away.

However, if you wait too long, it may be too late. You need to make sure that your wishes are known by those who will be responsible for carrying them out.

Consider hiring a lawyer to help you create an estate plan.

If you have pets, it is important to have a plan in place for them. A lawyer can help you create a will and make sure that the right people are named as executor(s), trustee(s), successor trustee(s), power of attorney and/or guardian(s). They also know how best to deal with pets in these documents.

A good estate planning lawyer will ask questions about your pet’s needs so they know what type of caretaker would be best suited for them; many lawyers have connections with local shelters that specialize in helping animals find new homes when their owners pass away or become unable to care for them anymore

Although courts see pets as property, choose a guardian for your pet.

Although the courts see pets as property, you should choose a guardian for your pet. A guardian can be a family member, friend or neighbor. Alternatively, it could be a professional caregiver who specializes in taking care of animals.

If possible, appoint two people as co-guardians so there’s someone who can step in if something happens to one person before the other dies or becomes incapacitated themselves (elderly parents often worry about this).

Provide for your pet in your will and other legal documents.

If you have a pet, it’s important to think about how they’ll be cared for after your death. If a family member or friend isn’t willing or able to take on the responsibility of caring for your pet, consider other options such as finding them a new home with someone who is able to do so. Another option is providing money in your will that allows them to be taken care of by an animal shelter or rescue group until they are adopted into their new home.

Pets can be the subject of gifts for their care, or even trusts that allow funds to be paid out every year that they survive you in order to ensure continual care. The options for choosing how to provide for your pets are nearly limitless.

Arrange for care while you’re alive, if possible.

If you have a pet and are experiencing a move into a personal care facility, it may be valuable to consider if an earlier move for your pet is a better option. This may help ease your pet’s transition into its new home, and still allow you to visit, or be visited by your pet, from time to time.

You should also make sure that any medical issues are taken care of before arranging for someone else to take over as caregiver: ensure that the animal has had all its vaccinations (and check back periodically), and bring it in for regular checkups from time-to-time so that any potential problems can be caught early on and treated accordingly by a veterinarian.

Conclusion

Pets are a big part of our lives, and they deserve to be taken care of. They’re also part of your estate and will, so it’s important to plan properly for them. If you don’t want to leave money or property directly to your pet, consider naming someone else as guardian who can take care of them in the event of your death or incapacity. This person should be someone who loves and cares about your good pup or kitten or other friend as much as you do and who is willing to give them all the love that they deserve.

Apr 21
Love0

Planning considerations as you get older

By Committeeship, Estates, Power of Attorney, Wills

Estate Planning

If you have a family, it’s important to make sure that they are taken care of after your death. A will is one way to do this. A will allows you to specify who will inherit your property and other assets, including who should care for any minor children if both parents die.
You may also want to consider setting up a trust as part of your estate planning process. Trusts can be used in many different ways–for example, they can be set up so that an heir receives money from the trust only when he or she reaches a certain age (a “spendthrift” clause), which could help protect against financial abuse by others; or they might allow for some flexibility over how much money goes into each beneficiary’s hands at different stages in life (such as college tuition).
If someone else needs power over your finances but doesn’t want total control over them (for example, if you’re too ill or incapacitated), then naming him or her as power-of-attorney may be necessary; this person would then be able to make decisions about paying bills on behalf of another person until such time as he/she recovers enough mental capacity again. You can read more about that here: https://wolseleylaw.ca/wills-estates-and-elder-law/

Health Care Planning

Health care planning is one of the most important things you can do to ensure that your wishes are respected and carried out. By creating a health care directive and assigning a health care proxy, you can ensure that decisions about your medical care are made according to your wishes. If you have chosen not to create an advance directive or assign a proxy, then provincial law will determine what happens if you become incapacitated and unable to make those decisions yourself.
When it comes time for long-term care (LTC), there are several options available: home-based LTC services such as adult daycare centers; assisted living facilities; nursing homes; or continuing care retirement communities (CCRCs). Each option has its own benefits and drawbacks depending on how much assistance is needed from staff members at these facilities–and each comes with its own cost structure as well!

Financial Planning

As you age, it’s important to have a financial plan in place. This can include creating a budget and planning for retirement, as well as exploring financial assistance options that may be available.

Housing Arrangements

  • Senior Living
    If you’re an older adult, or if you know someone who is, it’s important to explore options for senior living. This can include independent living facilities or assisted living facilities. You may also want to consider moving in with family members or friends who live nearby.
  • Home Modifications
    As people age, they often need help with daily tasks such as bathing and dressing themselves. When this becomes too much for them alone–or when it becomes impossible for them alone–it’s time to make some changes in their home environment so that they can continue living safely on their own terms without needing constant assistance from others around them all day long every day throughout each week. Some examples include installing grab bars near toilets; widening doorways so they’re easier for wheelchair users; adding ramps outside entrances where snow piles up during winter months

Insurance Planning

  • Long-term care insurance
    Long-term care insurance can be a good option for people who are concerned about the cost of nursing home care. It’s important to evaluate your options carefully, though, and make sure that you understand what kinds of benefits each plan provides before buying one.
  • Health insurance options
    If you have employer-sponsored health insurance, it’s important to evaluate whether or not this coverage will continue after retirement. Long term drug coverage will typically end after retirement and so it may be important to consider what that coverage may look like, and what government Pharmacare limits and deductibles might be for you.

Tax Planning

Tax Planning
A tax professional can help you plan for retirement and ensure that you are taking advantage of all the deductions and credits available to you. Tax planning is also important for ensuring that your estate is properly structured to minimize taxes on death, which may include setting up trusts or other legal arrangements ahead of time.

End-of-Life Planning

When you’re faced with end-of-life planning, you may be thinking about what arrangements to make for your funeral and burial. You may also want to consider how much time you have left and what kind of care you would like in the event that your health deteriorates.
You can help ensure that these decisions are carried out in accordance with your wishes by creating an end-of-life plan. This includes deciding on funeral arrangements, such as whether or not there will be a public viewing or open casket service; who should attend; where it will take place; what music is played during services; whether or not there should be flowers sent by family members; etc.; creating a living will (also known as an advance directive) which outlines how medical treatment should proceed if one becomes incapacitated due to illness or injury. Even MAID is becoming more complex, with new rules set to take effect soon. Talking through those options can be important as well.

Caregiver Arrangements

If you’re caring for an elderly loved one, you may need to hire a caregiver. You can also look into finding support services in your area and making arrangements for respite care.
If you are caring for someone who has dementia or Alzheimer’s disease, it’s important to know what legal arrangements should be made before they lose their ability to make decisions on their own behalf.

Technology Planning

  • Assistive technologies: Assistive technology is any device or service that helps people with disabilities to do things they cannot do on their own. Examples include screen readers for people who are blind, text-to-speech software that converts written words into audio speech, and devices that allow people with mobility issues to use computers more easily.
  • Online resources: The Internet has become an indispensable tool for many older adults and their caregivers. It can help them find information about legal matters, health care services and other community resources; connect with others who share similar interests; stay in touch with family members who live far away; participate in online discussions about topics important to them (such as aging); learn new skills like using social media platforms like Facebook or Twitter; order groceries from home delivery services like Instacart or Peapod; manage finances using online banking tools such as Mint (which also tracks spending habits); find transportation options such as Uber/Lyft ridesharing services–and much more!

Conculsion

There are a number of considerations when we think about getting older and many of them go hand-in-hand. For example you tax planning and estate planning will often overlap. If you have questions about these, or if you know that there is some planning that you’d like to do, please reach out and schedule a chat with us.

Jan 26
Love0

Don’t be afraid of a Power of Attorney

By Estates, Power of Attorney

A Power of Attorney Gives You the Control You Need

What is a Power of Attorney?

A power of attorney is a legal document that grants another person control of your finances, property, and medical decisions in the event that you are incapacitated. It allows you to appoint someone you trust to make important decisions for you and act in your best interest.

What Rights Will I Lose?

When you sign a power of attorney, you will not lose any of your rights or responsibilities. You are still in charge of your affairs and will retain all decision-making power. Your appointed person will only act when you are unable to do so or when you want them to.

Who Should I Appoint?

The person you appoint should be someone you trust to make decisions in your best interests. It is important to make sure they are aware of and understand your wishes, and that they are reliable and trustworthy.

We’re always happy to answer questions about estate plans and powers of attorney. Give us a call and we’ll chat.

person writing
Nov 18
Love0

Getting started with probate

By Estates

Introduction

Probate is the legal process that takes place when someone dies and their estate needs to be dealt with. For example, if a person has left assets which need to be distributed or property that needs to be sold.

What is probate?

Probate is a process that gives you a court order that allows you to prove that you are the rightful administrator of an estate and gives you permission to distribute its assets. It is not always essential when someone dies, but even if it’s not required, it does allow you to deal with their property and money in a more efficient way than if you didn’t have probate.

Probate only applies if someone has died and left behind assets or property which need to be distributed after they are gone. If there are no assets, then there’s nothing left worth worrying about and probate won’t be necessary at all. Depending on what assets the deceased person owned, including bank accounts and land/property, probate may be required in order for you to sell or distribute it.

Can I get probate without a will?

If you have a will, it’s usually easier for your loved ones to get probate. If you don’t have a will, then the process is called administration. The person who takes care of your estate is called an “administrator” (without a will) an “executor” (with a will) or a “personal representative” (for either an administrator or an executor). The personal representative has to file papers with the court and prove that they are the person allowed to act on behalf of the estate.

Gathering the information you need to complete the probate application form, including making a list of assets and liabilities.

  • Gather the information you need to complete the probate application form.
  • Make a list of assets and liabilities: if you don’t know what they are, ask your lawyer.
  • Don’t forget to include any benefits that may be payable through the deceased’s pension and life insurance.
  • The intake form is a “best effort” – if there’s information that you don’t know right away, that’s okay. Write down on the form that the asset/debt/information exists but that you don’t know what it is right now. It can always be obtained later.

Conclusion

We hope that this post has helped you understand what probate is and the process of applying for it. Your next step should be to gather all the information you need to complete the application form, including making a list of assets and liabilities. If you’re still unsure about how to get started, please check in with your lawyer.

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