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Deal Addict
Jan 2, 2015
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Poppwl wrote:
May 11th, 2019 12:35 pm
I quoted you again. I said chances are you won't die before your kid becomes an adult because you are a safe person. You put yourself out of danger. The paper is just an extra document that you don't need.

Calm down. Relax. Why are adults angry all the time.
I am not angry, I was factual. Normally, I wouldn't call advice awful, but in your case, it was truly awful advice with the definition of awful being harmful to anyone who would consider following it, especially if they have kids and needed to be corrected that there is NO circumstance that your advice should be followed.

Fortunately, you are partially right that most minors will not be in the position where a proper will, POA, or PD are required. However, in the case that the parent does die, or become sick or incapacitated, your advice is harmful. Parents don't just die because of unsafe actions, you may be watching too much tv. One person I knew just passed because they were on the boeing plane that crashed, leaving 3 kids behind. Nothing that could have been done by the parent. other than maybe people shouldn't be on planes, because that is dangerous or unsafe? How about then the parents that died because they were on a family driving road trip on the sunny Easter weekend, and a semi happened to hit a rock that shot backwards very far, and went right through the windshield killing the parents. It was ruled a totally freak accident, the roads were great, they weren't following too close. So perhaps, parents shouldn't drive any more. Then there was the parent who died from cancer after being in remission. Lived a very healthy active life, not sure what one would do to be more safe. Just last week, the parent died in her sleep. Perhaps, that was dangerous too.

My point is living a 'safe life' or 'putting yourself out of danger' does not mean that you don't need a will.
On a 'smart' device that isn't always so smart. So please forgive the autocorrects and typos. If it bothers you, then don't read my posts, but don't waste my time correcting me. If you can get past the typos, then my posts generally have some value.
[OP]
Sr. Member
Nov 25, 2008
623 posts
16 upvotes
edmonton
I got further questions about will.
Say I have two properties house A and condo b.set up will with lawyer today .

Over next ten years ...Say I sold condo b bought another one. ..Also bought another car

Every time I buy new assets ...I have to update lawyer and will?

Just dunno how often I. Need to update will along the way..
Thx
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Jan 2, 2015
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love0715 wrote:
May 15th, 2019 7:45 pm
I got further questions about will.
Say I have two properties house A and condo b.set up will with lawyer today .

Over next ten years ...Say I sold condo b bought another one. ..Also bought another car

Every time I buy new assets ...I have to update lawyer and will?

Just dunno how often I. Need to update will along the way..
Thx
So it depends on how you set up the first will. If its something simple where you say
- All property goes to my spouse, and then in the event my spouse, if both of us are gone it all goes to the kids, don't need to change anything because you have a blanket statement. So no change to when you get more or different properties. If specific the properties with the roll# then you would have to change the will.

The guidance I have had is if you change your executor, kids become adults, different split in assets, new marriage/divorce, new kids, major life changes are good times to change the will.
On a 'smart' device that isn't always so smart. So please forgive the autocorrects and typos. If it bothers you, then don't read my posts, but don't waste my time correcting me. If you can get past the typos, then my posts generally have some value.
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Mar 3, 2011
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There are all questions you can ask the lawyer once you have found one - your lawyer is a Notary so they can put their stamp on it for you, you don't need to go elsewhere to get this done. The questions you have now your lawyer can answer without hesitation, it could just be a matter of them updating the will, reprinting out the copy and then putting their stamp on it. Usually you would really only want to adjust your will when you make major changes and the executor could on your behalf decide where those uncertain things that weren't listed on your will go for you.

Don't make this a bigger deal than it is, get it done correctly and you will thank yourself for getting it done properly the first time.
Deal Addict
Nov 13, 2013
1655 posts
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Ottawa
Macx2mommy wrote:
May 11th, 2019 3:02 pm
I am not angry, I was factual. Normally, I wouldn't call advice awful, but in your case, it was truly awful advice with the definition of awful being harmful to anyone who would consider following it, especially if they have kids and needed to be corrected that there is NO circumstance that your advice should be followed.

Fortunately, you are partially right that most minors will not be in the position where a proper will, POA, or PD are required. However, in the case that the parent does die, or become sick or incapacitated, your advice is harmful. Parents don't just die because of unsafe actions, you may be watching too much tv. One person I knew just passed because they were on the boeing plane that crashed, leaving 3 kids behind. Nothing that could have been done by the parent. other than maybe people shouldn't be on planes, because that is dangerous or unsafe? How about then the parents that died because they were on a family driving road trip on the sunny Easter weekend, and a semi happened to hit a rock that shot backwards very far, and went right through the windshield killing the parents. It was ruled a totally freak accident, the roads were great, they weren't following too close. So perhaps, parents shouldn't drive any more. Then there was the parent who died from cancer after being in remission. Lived a very healthy active life, not sure what one would do to be more safe. Just last week, the parent died in her sleep. Perhaps, that was dangerous too.

My point is living a 'safe life' or 'putting yourself out of danger' does not mean that you don't need a will.
Actually if one parent dies without a will it is really not much of an issue. The money etc. goes to the surviving spouse. I agree it is a little silly to say a safe person won't die but really the issue is if both parents die in an accident where the kids aren't there. This does happen but is really rare. The money spent on a will could buy a decent amount of life insurance which might help the kids more or it might not depending on the circumstances.
A lot of parents wishes regarding custody are not relevant a court in the case of a dispute will still decide what is in the best interests of the kids. Also siblings and parents change their circumstances quickly that can require constant updating that most people forget to do. Your stable married childless sister is now a single mom of two kids suffering from depression. The court might still decide your partner's sister would be better. The financial issues around trust can me more important as they can be expensive to administer but given the likelihood of happening it still might be poor value to spend a lot on a will.
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Jan 2, 2015
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fogetmylogin wrote:
May 22nd, 2019 7:24 am
Actually if one parent dies without a will it is really not much of an issue. The money etc. goes to the surviving spouse. I agree it is a little silly to say a safe person won't die but really the issue is if both parents die in an accident where the kids aren't there. This does happen but is really rare. The money spent on a will could buy a decent amount of life insurance which might help the kids more or it might not depending on the circumstances.
A lot of parents wishes regarding custody are not relevant a court in the case of a dispute will still decide what is in the best interests of the kids. Also siblings and parents change their circumstances quickly that can require constant updating that most people forget to do. Your stable married childless sister is now a single mom of two kids suffering from depression. The court might still decide your partner's sister would be better. The financial issues around trust can me more important as they can be expensive to administer but given the likelihood of happening it still might be poor value to spend a lot on a will.
A will is like insurance, you don't need one until you do. Having go to go through a POA and PD personally, and witnessing the effects if a parent no longer able to make decisions or dies on a family and kids, I think it is well worth it for the $500-$1000 to have a will, PD, and POA drafted for a couple with kids. That's with my spouse and I being in a stable relationship for 20+ years, no other marriages, children/step children, etc. If you have any accounts or investments that are only in your name, and they are not set up properly, then a will may help.
Even if it's just your spouse that dies without a will, there are more steps the surviving spouse has to take through the courts.

I would disagree, unless the family is very dysfunctional, a parents wishes is very important in terms of custody. Courts don't arbitrarily decide one family member is better than another. There needs to be reason. If you don't have a will, and both parents die, there is no one named. That's when thinks get really hairy even if your whole family is wonderful, kids can get bounced around.

My response stands as it was that it's stupid to think that if you lead a 'safe life' you will not die unexpectedly. I also think it is really irresponsible to not have a will and just get some friends together ask them to figure how to raise your kids. If you don't have kids, or have a simple estate that everyone agrees to, then save the money. If everything works out, great, if not, then it's fine too, you are dead, who cares how the kids and family have to deal with this.
On a 'smart' device that isn't always so smart. So please forgive the autocorrects and typos. If it bothers you, then don't read my posts, but don't waste my time correcting me. If you can get past the typos, then my posts generally have some value.
Deal Addict
Nov 13, 2013
1655 posts
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Ottawa
Macx2mommy wrote:
May 22nd, 2019 9:49 am
A will is like insurance, you don't need one until you do. Having go to go through a POA and PD personally, and witnessing the effects if a parent no longer able to make decisions or dies on a family and kids, I think it is well worth it for the $500-$1000 to have a will, PD, and POA drafted for a couple with kids. That's with my spouse and I being in a stable relationship for 20+ years, no other marriages, children/step children, etc. If you have any accounts or investments that are only in your name, and they are not set up properly, then a will may help.
Even if it's just your spouse that dies without a will, there are more steps the surviving spouse has to take through the courts.

I would disagree, unless the family is very dysfunctional, a parents wishes is very important in terms of custody. Courts don't arbitrarily decide one family member is better than another. There needs to be reason. If you don't have a will, and both parents die, there is no one named. That's when thinks get really hairy even if your whole family is wonderful, kids can get bounced around.

My response stands as it was that it's stupid to think that if you lead a 'safe life' you will not die unexpectedly. I also think it is really irresponsible to not have a will and just get some friends together ask them to figure how to raise your kids. If you don't have kids, or have a simple estate that everyone agrees to, then save the money. If everything works out, great, if not, then it's fine too, you are dead, who cares how the kids and family have to deal with this.
Agree with the dubious logic of safe life.
I am comparing doing a will yourself with paying $1000 and hundreds more to change it every few years. The value of a lawyer is to explain some of the issues and disputes that can arise. What are the odds this happens? $1000 buys a lot of life insurance if you are young and might be a better investment imho.
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Feb 7, 2017
9930 posts
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Eastern Ontario
fogetmylogin wrote:
May 23rd, 2019 1:55 am
Agree with the dubious logic of safe life.
I am comparing doing a will yourself with paying $1000 and hundreds more to change it every few years. The value of a lawyer is to explain some of the issues and disputes that can arise. What are the odds this happens? $1000 buys a lot of life insurance if you are young and might be a better investment imho.
NOTE - if you get a good lawyer to draft up your will (plus Power of Attorney & Personal Directive) it will be written in such a way that it should last decades ... not a couple of years. This is especially true if one is in their 20s or 30s with young kids at the time of drafting.

Wills need to be changed when circumstances change drastically ... be that the Marriage by Divorce, or life circumstance by Death (one of the Partners dies), or possibly by a large change in finances (Lottery Win, Inheritance, or Personal Business Growth in a Partnership or owned Corporation).

Nonetheless,, I have found that most folks probably only write 2 or 3 wills in their lifetime. One when their kids are young, one when their kids are adults, and perhaps a 3rd when Grandkids come along... and the whole landscape of life looks much different in ones 60s+ (lifelong spouse now passed etc)

When written well... the document has longevity.
But most importantly it HOLDS UP when it is needed, thereby negating the mess at the backend when someone dies
And trust me THAT MESS is what can cost a whole lot of money (and time) to resolve

So for about $ 1000 a couple... you can get all 3 documents done
With a outlook of being covered 10 to 20+ years
(So $ 50 to $ 100 / year ... divided by 2 persons = $ 25 to $ 50 a year
Heck most of us spend a lot more on Tim Hortons Coffee )
Not expensive in that scheme of things

EDIT / ADD - Life Insurance is handled differently than other items in ones estate.
Life Insurance pays out upfront to whomever is named in it as the beneficiary
But ... rarely is the life insurance coverage come anywhere near the value of the rest of the estate (Home, Investments, etc)
So in the long run it ain’t gonna help a whole lot in a situation where one dies without a will
Most folks use life insurance policies strictly to pay off any expenses immediate to the death itself
Like a funeral. Hiring an Accountant for the Tax Issues, etc.
Dieing without a will ... that can literally take years to resolve.
With money locked up / not accessible
That’s the the difference a lawyer can make to writing a will at the front end
They are BOTH looking out for the wishes of the deceased
As well as making sure that the will is written in legalese to ensure there are as few issues as possible to the Benefactors getting what is owed to them
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May 12, 2014
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fogetmylogin wrote:
May 22nd, 2019 7:24 am
Actually if one parent dies without a will it is really not much of an issue. The money etc. goes to the surviving spouse.
Actually if a parent dies without a will, it is a huge issue.
(Slight variations by province.)


First: spouse gets 1/3 of the house. Kids get 2/3. So right there, you may start to run into problems with the principal residence exemption if the kids have a house already. Not to mention if there's any friction at all between surviving spouse and kids.

If the kids are minor, another huge problem: now they own a valuable estate (house, cash, stocks) worth more than $25,000. Reporting requirements, accounting requirements, etc.

Huge tax problem: RRSP gets gouged by taxes (2/3 goes to kids, which must pay tax on it)
RESP, TFSA will face problems too.

Etc

If you have a child, do your surviving spouse a favour and at the very least write a handwritten will giving everything to her immediately.
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Nov 13, 2013
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Ottawa
FrancisBacon wrote:
Jun 4th, 2019 5:32 am
Actually if a parent dies without a will, it is a huge issue.
(Slight variations by province.)


First: spouse gets 1/3 of the house. Kids get 2/3. So right there, you may start to run into problems with the principal residence exemption if the kids have a house already. Not to mention if there's any friction at all between surviving spouse and kids.

If the kids are minor, another huge problem: now they own a valuable estate (house, cash, stocks) worth more than $25,000. Reporting requirements, accounting requirements, etc.

Huge tax problem: RRSP gets gouged by taxes (2/3 goes to kids, which must pay tax on it)
RESP, TFSA will face problems too.

Etc

If you have a child, do your surviving spouse a favour and at the very least write a handwritten will giving everything to her immediately.
Yes sorry. I meant to say without a professionally written will in other words responding to the OP and criticism of his handwritten will.
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Jan 2, 2015
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http://forums.redflagdeals.com/accessin ... l-2287999/

This is the reason people want to get their wills, POA, and PD's done properly. Person may do a will in case they die, but if they didn't have a POA, or PD they are screwed if aren't dead but unable to access their accounts. A lawyer would have asked for all three at the same time.

That little legal piece of paper for a few hundred dollars will cover off many scenarios that most of us have not thought of.
On a 'smart' device that isn't always so smart. So please forgive the autocorrects and typos. If it bothers you, then don't read my posts, but don't waste my time correcting me. If you can get past the typos, then my posts generally have some value.
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May 23, 2017
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Menthol wrote:
Jun 4th, 2019 4:06 pm
If anyone has a contact for a lawyer who does wills in the North Etobicoke area, please PM me
same here
Got that Zoomer account!
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Jan 19, 2007
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Toronto
Menthol wrote:
Jun 4th, 2019 4:06 pm
If anyone has a contact for a lawyer who does wills in the North Etobicoke area, please PM me
riseagainstthemachine wrote:
Jun 5th, 2019 8:33 am
same here
How about south Brampton? Or is that too far?
Jr. Member
Mar 29, 2010
109 posts
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Toronto
Menthol wrote:
Jun 4th, 2019 4:06 pm
If anyone has a contact for a lawyer who does wills in the North Etobicoke area, please PM me
Our lawyer is at Square One area if you are interested. We did our will and power of attorney with this lawyer.

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