Posted by pmmpa on July 23, 2014 · Leave a Comment
Without a Will, your property will be divided according to government laws, which may not be in accordance with your wishes. Your children may also end up with someone less than ideal. And since you don’t have a say on who gets your property, you won’t be able to make specific gifts of cash, personal property, real estate, etc. to particular individuals or organizations either. Your loved ones may get involved in court battles concerning the validity of your Will (if you have an invalid / out-of-date Will) or what happens to your property and kids when you pass away.
If you have a Will but did not enter into it properly, it may be challenged. For example, if you don’t have sufficient mental capacity at the time of making a Will, then it is invalid. Your Will – or part of it – is also invalid if you included something (e.g. a gift to someone) as a result of fraud or pressure or mistake. If you write your Will and then get married, your Will is automatically revoked. That is, unless your Will is made in contemplation of your marriage to that specific person. If you sign your Will without two (2) witnesses, then your Will is invalid. And if your witnesses are also beneficiaries (i.e. persons you give gifts to in the Will) or the spouses of beneficiaries, then gifts to them will be void. Any change made to your Will after it has executed (i.e. signed and witnessed) is invalid unless it is executed in the same manner as the Will. If you lose your Will, then when you die you will be presumed to have revoked it! Finally, if you give a gift of real or personal property to someone in your Will but don’t own that property at the time of your death, then that person generally won’t receive anything! Now how many Will Kits are out there that adequately educate you along the way and afterwards to help you ensure that you don’t invalidate your Will? You guessed it: not many!
You can help prevent court battles by using our Will-O-Matiz Wizard. We educate you along the way (throughout the questionnaire and in the comprehensive eBook that comes with your Will) so that you understand how Wills can be challenged and therefore doing everything within your power to prevent that. A little education goes a long way!
If someone dies without a Will in Ontario, their property will be divided according to the rules set out in the Succession Law Reform Act. There is a standard procedure which divides property according to family relationships. Here are some of those rules:
With respect to your minor children, a person can name someone in their Will to be the “Custodian” for their minor children and “Guardian” of their property: see section 61 of the Children’s Law Reform Act, R.S.O. 1990, c C.12. You can also give the Estate Trustee powers to pay him or her. A parent is not automatically the Guardian of his or her child‘s property. It is important to note that, whoever is named in your Will as the Custodian and Guardian can only act as such for 90 days from the date of the Testator / Testatrix‘s death: section 61(7) of the Children’s Law Reform Act. During that period, they should apply to the Court for an order formally appointing them as the Custody and Guardian of the Testator / Testatrix‘s minor or disabled children. Also worth mentioning is that, if your and your spouse‘s appointed Custodian and Guardian are different people, then the Will of the last person to die (i.e. you or your spouse) governs.
To create your own Will or Dual Wills (and don’t forget about creating your Powers of Attorney too!), just click on the image below:
YOU want a Will software:
And that’s exactly what the Will-O-Matic Wizard aims to deliver.
Filed under Blog · Tagged with david mayzel, dental, dental wills, dentist, dentist legal forms, lawyer, michael carabash, michael carabash review, protect yourself
Posted by dmc on December 11, 2013 · Leave a Comment
Here is a testimonial from one of our dentist clients. We helped them put together a comprehensive and professional Letter of Intent using our Letter of Intent Wizard:
“I had the pleasure of working with Michael Carabash and Ljubica Durlovska in purchasing a dental practice. It is great to work with a knowledgeable and professional legal team who truly care about their client and understand dental practices very well. We created and submitted a Letter of Intent through their online system “LOI Wizard”. The system allows you to customize your LOI based on your needs and preferences. This is an amazing tool to create a perfect LOI.”
Dr. A
Filed under Blog · Tagged with buying a dental practice, buying selling dental practice ontario, david mayzel, dentistry professional corporation, loi wizard, michael carabash, ontario dental law, ontario dental lawyer, ontario dentistry lawyer, selling shares of dentistry professional corporation, submitting a letter of intent
Michael Carabash is a dental lawyer and the Founder of this website. He is an entrepreneur at heart who helps you see the big legal picture. He drafts clear and effective agreements that protect your rights while promoting your interests. He also presents regularly to Ontario dentists on legal and practice management topics. He can be reached at 647.680.9530 or michael@dentistlawyers.ca.
David and Michael created this website to let dentists make their own professional and comprehensive legal forms in a convenient and cost-effective manner. The best part is that all legal forms come with FREE lawyer review from their law firm DMC LLP
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If you are a dentist and need help to buy / sell a dental practice, lease space, incorporate, deal with employment matters (including associate agreements), and get your Wills and estates in order, contact DMC LLP today.