A Will is a legal document that sets out your wishes of how your property is to be distributed upon your death and who will oversee the administration of your estate.
Having a Will ensure peace of mind for you and your family and more specifically enables you to:
Probate is a court process that confirms the validity of a Will. The Certificate of Appointment proves the authority of the Executor/Trustee (named in the Will) to administer the provisions of the deceased’s will or if there is no will, the Succession Law Reform Act lists who may apply to become the Executor of the estate as well as who the heirs of law would be.
The certificate of the court is relied on by third parties like financial institutions and land registry offices to confirm that the will can be relied upon and the named Estate Trustee has proper authority to act on behalf of the estate.
A Power of Attorney is a legal document in which you give someone you trust the right to make decisions for you if something happens and you are no longer able to look after matters on your own.
There are two types of Power of Attorney:
You don’t have to create a power of attorney, but if something happens to you and you don’t have one, other arrangements will have to be made.