Are you considering having a will for your estate? If yes, then choosing the right executor will help you in many ways. An executor is a person who is given the responsibilities of taking care of your property and distributing the assets among your loved ones upon your death. So, selecting a capable executor will help you worry less about the happiness of your loved ones once you are gone.
Before considering how to choose an executor it is very important to understand who to choose. It has been seen that many individuals opt for choosing their dear ones as their executor, but instead it is important to choose the one who is competent enough to deal with your assets and its division.
Duties of An Executor
- One of the main duties of an executor is to get to know everything about your assets. This includes keeping a list of all banks, brokerage and retirement accounts. The executor should also keep an inventory of your personal valuables.
- It is very important for the executor to manage the estate perfectly. This means that he would be required to pay out any outstanding funds that the deceased might have left over. He should also be well informed about any payment due to the deceased, which he could then divide among the beneficiaries.
- Moreover, an executor is required to file the appropriate tax return to make payments of any due estate taxes.
- The executor will be required to prove to the probate court about all the due payments that have been made to the potential creditors.
- Last but not the least, after settling all these issues the executor will have to distribute the assets to its heirs as per the will of the deceased.
Judging a person on the basis of the capability to handle all these duties will help you to choose the perfect executor for your estate.
It is a legal document that gives a person power on behalf of another person. In Canadian law, this person is usually called the “attorney”. Unlike U.S. law, in Canadian law “attorney” does not mean “lawyer”.
Power of attorney can be divided into two classes:
Power of attorney for personal care: A document that enables you to take personal decisions regarding someone or something, that is not a property, like where you will live, medical care, to name someone etc. It is usually given to someone to make decisions on behalf of the giver when the giver becomes incapable of making decisions relating to his health and care.
Power of attorney for property: This power is vested to someone whom you want to manage your property, tangible or intangible, if you feel you are unable to maintain your property. Though this power of attorney will vest no right to take personal decisions like power of attorney for personal care.
In times of emergency, you seek to distribute your power to the one you trust. If you don’t your property might face odds and hence damages. Thus it is advisable to transfer the power to someone who can manage your property via power of attorney for property in Ontario.
While making a power of attorney for property, you need to make sure of the following things:
- How much power you want to give to your attorney?
- Do you want to limit the scope of your attorney’s power? If yes, to what extent?
- Check and be sure of the valid period of such power of attorney.
- Make sure the power of attorney is in force from the time you stated.
- If you want, you can give continuing power to your attorney, who must be 18+ years and of full mental capacity.
Before granting continuing power to someone, make sure you have taken care of the following:
- Have an approximation of your property value.
- Stay aware about the fact of who is financially dependent on you.
- Be sure of the authority you are vesting your attorney with.
- Be sure of your rights, such as your right to revoke the power of attorney whenever you want if you are mentally capable of doing so.
- Understand the risk of misuse of power before signing such power of attorney.
If you are thinking where to get the power of attorney for property prepared in Ontario, then Notarizers is the place for you. We have the finest of law professionals who will take care of all your legal rights and will give you a service that serves the best of your interest, in the most affordable way. Get more information about us by logging into our website or calling 416-782-5926.
Marriages are made in heaven. You never know what’s on the cards and when you might fall in love and tie the knot. You don’t even know where you will find that person. It might happen so that you visit Canada and meet your soul-mate. Will you not get married? Will that marriage be legally valid in Canada?
Overseas Marriage of Canadian Citizen is Deemed To Be Legal and Valid if They Meet the Following :
- The marriage is a valid marriage under the laws of the foreign land where it took place.
- The marriage has same binding legal validity if it occurred in Canada.
In most foreign countries you need to have a foreign marriage certificate to get the permission of such marriage and thus you have the foreign marriage certificate of Non- Impediment. However in Canada you need no such certificates although for safety you can apply for “Statement In-Lieu of Certificate of Non-Impediment to Marriage Abroad”.
Each Application Must be Accompanied by the Following Valid Marriage Legal Documents:
- Certified copy of your birth-certificate.
- If you are a person who was born outside Canada, then you need to submit the documents of Canadian citizenship and also the record of your landing form.
- You have to give a statutory declaration regarding your present marital status.
- You need to declare the name and the ID proofs of your future spouse.
- You also need to provide certified copy of birth certificate and record of landing form if any, and citizenship card of your future spouse.
- If you are a divorced person then submit your divorce certificate or divorce judgement.
- In case you are a widowed person you need to submit the death certificate of your deceased spouse.
Registration of your marriage and all its legal documents are necessary for having a proper legal effect in Canada. Thus you will after marriage return to Canada and register it with the Canadian domestic law for proper legal validation of your marriage.
Law is very difficult, and it involves loads of specialised ways to give a certain thing its legal effect & validation. When it comes to your marriage you need to be completely sure that all the procedures are done in the proper way.
For this you need to hire legal professionals who will give you the best legal aid. If you are wondering where you can get it in the right price in Canada then Notarizers is the place for you. To know more about us, just visit www.notarizers.ca