After my previous video on preparing your home for sale, It became very apparent that number of people who had wills was about 52 PERCENT Of those that did have the will, 75% of those were not up to date as it pertained to Living Assets and a living Will Personal Care, and what you would like done if something happened to you.
I brought this up in conversation with Stan Gelman, who is a Family law, and Real Estate lawyer in Mississauga, and Stan suggested he could include the Wills in a real estate transaction or make special consideration for you if you are going to come and visit Stan Gelman for the Wills alone.
Stan Gelman can be reached at 905 270 5110 or you might want to check his website http://Wiselawyer.ca
2 comments:
great post. thanks for sharing and posting!
Most Boomers Have Wills that are Out-of-Date: BMO
http://propertywire.ca/news/national-news/1385-most-boomers-have-wills-that-are-out-of-date-bmo.html
A recent study by BMO suggests that most of Baby Boomers have wills in place- but that these wills have not been updated in many years.
Despite this awareness that a will needs to be in place, there seems to be a disconnect between awareness and the fact that a will needs to be current to reflect estate holdings as they are presently.
“Most Canadian Boomers (aged 45+ with investable assets, including real estate, of over $500,000) have their act together when it comes to estate planning, with the overwhelming majority (85 per cent) having a will in place.”
“However, despite the existence of basic estate plans, the study also found that almost half of Canadians over 45 have not re-visited or updated their wills in 10 years, potentially leaving their original legacy goals in a precarious state.”
"While it's very encouraging to see that a solid number of Canadian Boomers have a will in place, they should not underestimate the importance of updating their will on a regular basis," said Sara Plant, Chief Executive Officer, BMO Trust Company. "Over time, an individual's circumstances can shift, and they may encounter changes to wealth, marital status or the birth or death of a loved one. These changes can impact the estate and can result in an outcome that differs significantly from the deceased's original wishes."
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