Lawyers Toronto

Wills, Estates, Trusts

A well-thought-out estate or succession plan should be an integral part of your personal planning. Planning for the future will ensure that only the people you trust will be appointed to look after your assets upon your death, and that gifts and bequests will be received by only those people you designate. Estate planning may also allow you and your beneficiaries to reap the benefits of deferred tax payments or significant tax savings.

In addition, creating a trust may be an effective tool to ensure that your family, especially your children, are supported and protected. We also provide strategic analysis to clients on the advantages and disadvantages of a trust and draft all necessary documents for its creation.

Himelfarb Proszanski has an excellent reputation for assisting clients in planning their future. We can actively assist you in reviewing, analyzing, and drafting any or all of the following as part of your overall estate plan:

  • Will and Powers of Attorney for Personal Care and Property
  • Interpretation and analysis of wills and trust documents
  • Limited power of attorney for property while absent from Canada
  • Secondary or multiple Wills for specific assets
  • Living Wills
  • International Will for assets outside of Canada
  • Family Trust, testamentary trust and/or Henson (disability) trust
  • Estate freeze and/or spousal rollover for family-owned closely-held corporations
  • Butterfly share transactions for family-owned closely-held corporations, allowing for orderly succession of next-generation shareholders and management
  • Retirement compensation arrangements and individual pension plans
  • Advising on tax implications and formulating deferred profit sharing plans

Estate Administration

Whether as a trustee, beneficiary, or third party involved within an estate, Himelfarb Proszanski will competently advise you on all aspects of estate administration. We offer the following services:

  • Obtaining Certificate of Appointment of Estate Trustee With or Without a Will
  • Assist with preparing passing of accounts
  • Advise on trustee duties and obligations
  • Assess whether a beneficiary may be eligible for a dependant relief application
  • Assist with duties of trustee, including correspondence with beneficiaries, preparing advertisements for newspapers, dealing with creditors of the estate, arranging for transfers of ownership of shares
  • Assist with sale or transfer of estate property (real and personal) and preparation of any legal documentation required by a trustee as part of the performance of his or her duties
  • Assist in obtaining directions from court as needed
  • Preparing application for variation of will or trust in friendly circumstances

Estate Litigation and Court Appointed Guardianship

As a full service law firm, Himelfarb Proszanski’s litigation department has the skill and experience to successfully handle any of the following estate litigation situations on your behalf:

  • Will challenges by potential beneficiary or trustee
  • Review of grounds for claim by beneficiary, including trustee replacement
  • Passing of Accounts
  • Dependant Relief claims
  • Disputes involving compensation of Trustee
  • Analysis of validity of will and potential will challenges
  • Assistance with capacity assessment to determine validity of will and/or power of attorney when signed
  • Application for guardianship for property and/or person
  • Advice with respect to role of children’s lawyer or public guardian and trustee
  • Analysis of validity and enforceability will or trust clauses
  • Prosecution or defence of solicitor negligence claims

Firm Trustee Duties

In certain circumstances, members of the firm may be willing to act as estate trustees or as trustees of a family trust. We would advise you fully on the proposed scope of our duties, any potential conflict of interest between acting as trustee and acting as your solicitor, any proposed fees for acting as a trustee, and the rights and duties of a trustee, a settlor of the trust, and a beneficiary in general.

Who Should Be Your Trustee?

When deciding on a trustee for the administration of your estate or a trust which you create, you should consider the following:

  • Choose someone likely to outlive you
  • You should choose someone who is trustworthy and capable and willing to follow your instructions
  • If the administration of your estate will be complex, you should consider employing the services of a professional trustee such as a trust company, chartered accountant, or legal advisor. We have professional relationships with a number of these persons and entities and can assist you in selecting a trustee that best meets your needs and wishes
  • Contact our firm for advice regarding the responsibilities and duties of a trustee under the Trustee Act, the Succession Law Reform Act, the Estate Act, and the Estate Administration Act or an attorney under the Substitute Decisions Act or the Powers of Attorney Act
  • Discuss your wishes and the obligations of being a trustee with the person you have chosen. Remember, that person is under no legal obligation to serve as your trustee
  • Appoint an alternate trustee in case the primary named trustee is unable or unwilling to perform his or her duties
  • Disputes frequently arise regarding the compensation granted to trustees. Contact our office to ensure compliance with the legal requirements of a trustee’s compensation

Himprolaw

Contact Himelfarb Proszanski today to find out how we can help you.

  • Tel: 1-877-820-1210
  • Fax: 416-599-3131
  • Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Web: www.himprolaw.com

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Home Practice Specialties Wills, Estates, Trusts