An important part of the work we do is helping our clients understand how they can plan and protect their household for the future through Wills and Estate Planning. Due to the recent influx of inquiries we’ve received, we thought it would be helpful to provide you with some basic information on Wills and Estate Planning, and have prepared the following summary.
We understand these are very uncertain times, therefore we are also offering a significant discount on our legal fees for preparing a Simple Will. We believe having a will is crucial, even in the best of times, and are extending this discount now so people have one less thing to worry about during this challenging period.
I. Wills and Estates 101
Why are wills important?
- Wills make sure your loved ones are protected and taken care of after you are gone. They clarify intentions and help your loved ones avoid wasting time on needless conflict.
- Wills can efficiently deal with personal property, including bank accounts, life insurance policies, real estate, and items with sentimental value such as family photo albums and heirlooms. Sentimental items often cause conflict due to the emotional baggage they carry, so having them set out in a will can make things easier for administrators and beneficiaries of your estate.
- Wills, combined with the right tax planning, can help with the efficient administration and wealth preservation of your estate.
Can’t I just tell my family what I want, and not bother with a will?
- Instructions to family members are not legally binding and can result in needless conflict unless properly documented and witnessed.
- Lack of a will can delay accessing your assets by your family members. Wills establish who is responsible for distributing your assets, arranging your funeral, and provide clarity to financial instructions as to who to take instructions from.
- Wills must meet legal requirements to be valid.
- Improperly witnessed wills can be invalid and cause needless conflict and substantial cost for your loves ones.
- Hastily made or poorly constructed wills can cause confusion and tension among your loved ones.
- Appointing a beneficiary as the executor of your will can invalidate your gifts.
II. Segev LLP is Offering Discounted Legal Fees on Simple Wills
Joint Will/Couples: Discounted from $1,500 to $1,000
A will that provides everything to the surviving spouse, and should the spouse predecease, then the entire estate is divided equally amongst the surviving children.
Single Will/Individuals: Discounted from $750 to $500
A will that provides everything divided equally to up to three individuals who survive the deceased.
To schedule a time to discuss your will and other estate planning issues, please contact us by phone or email set out below.
All the best to you and your family,
The Segev Team
Please note that other estate planning work will be billed on a case by case basis. Please contact us directly for more information.
toll free: 1-800-604-1312
Business hours are Monday to Friday from 9am – 5pm
Our team is currently working remotely, and our physical office is open by appointment only.