Wills & Estates

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Last Will and Testament
Estate Administration
Power of Attorney

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Wills & Estates

The estate planning process involves organizing your affairs to preserve your wealth and dispose of yours assets in accordance with your wishes. Your will is the key element of the estate planning process. The will is used to distribute your property to beneficiaries and to ensure your loved ones are properly cared for. Failure to draft an accurate will could lead to unnecessary financial and personal burdens on your family when your estate is being administered. Without a will, your assets will be distributed according to a formula, without regard to your needs and circumstances as well as needs of your loved ones.

At Bykov Law, we work with individuals to draft a will based on their stage of life, circumstances as well as personal and financial goals. In addition to drafting wills, we also work with our clients on other elements of an estate plan, including:

Your will is the most important part of your estate plan. It is your last statement on this earth that gives you a peace of mind in the knowledge that your loved ones will be cared for.

Once the drafting of will is complete, we will help you properly execute your will and explain any questions you may have going forward. Once your will is executed, we will store either an original or a copy in our fireproof safe as the Law Society of Upper Canada dictates.

At Bykov Law, we regularly draft wills for our clients. We take down your instructions carefully and personalize your will to your exact specifications. We also provide advice on how to best achieve your wishes and goals, ensure your loved ones are provided for, reduce your income and estate administration tax and streamline the overall estate administration process.

At Bykov Law, we understand the complexity involved in distributing your wealth to your family. Trusts can be used in several areas of the estate planning process. Family trusts are used to distribute wealth to family members, while ensuring assets are protected and privacy is maintained. Spousal trusts are often combined with an elderly client’s will to ensure their spouse is provided for while directing the final distribution of their assets.

At Bykov Law, we are familiar with all aspects of wills, estates and trust law. Our Lawyers have the necessary experience to help our clients achieve their goals. If you would like to discuss trusts or your estate plan with one of our lawyers, contact us to schedule a consultation.

There are three kinds of Powers of Attorney: a continuing Power of Attorney for Property, a non-continuing Power of Attorney for Property, and a Power of Attorney for Personal Care.

A Power of Attorney for Property is a legal document authorizing one or more individuals to manage your property in the event that you are incapable or in specified circumstances, including while you are out of the country. A Power of Attorney for Personal Care (sometimes referred to as Living Will) is a legal document that authorizes one or more individuals to make personal care decisions on your behalf in the event you become mentally incapable. It takes effect before you are actually deceased, hence the phrase “Living Will”. The Power of Attorney will be written to your exact specifications, executed and stored at our office.

At Bykov Law, we are experienced in drafting all three kinds of Powers of Attorney for our clients, either as part of their estate planning process or as a stand-alone legal service.

Our lawyers are knowledgeable in taxation and planning issues, which commonly arise in personal estates, and can advise you how best to manage and distribute your assets in the event of a death in the family.

In the event that a dispute arises over the proper interpretation, drafting or divisions in a will, a lengthy litigation process may begin. Our lawyers are well versed in both estate and civil procedure law, and will fight to get you the result you deserve.

Probate refers to the process of becoming a certified executor or trustee of a will. The legal process can be quite complex, and you may wish to hire an experienced wills and estates lawyer to guide you through it.

We provide legal services and help in probate, trusteeship and execution of estates.

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