Windsor Life Magazine May/June 2021

Page 50

WHERE THERE’S A WILL THERE’S A WAY BY TOM PORTER B.A., LL.B.

Imagine your gift helping children with disabilities for years to come... Your commitment to children in our community will ensure that Family Respite Services can provide direct support for families who have children with disabilities and valued community connections for children. Family Respite works with 1200 families caring for children with a Developmental Disability, Physical Disability, Medical Health Challenge and Mental Health Disorder across Windsor/Essex County.

Connect with us today to learn more:

info@familyrespite.org Canada Helps online:

https://bit.ly/LeaveaLegacyFRS

There is a certain satisfying sense of immortality in hoping that you will be affectionately remembered after your death in the hearts and minds of your family and friends. With effective estate planning through the use of a Will, you can also ensure that your priorities and sense of purpose in life will continue to benefit your loved ones and your community after you are gone. You are in control and your Will can specify your exact wishes including the naming of an estate trustee, funeral arrangements, beneficiary entitlements and gifts to your favourite charitable/community organizations. If you do not have a Will at the time of your death (an intestacy), you will have no control over the distribution of your assets and someone (usually your spouse or one or more of your children) will need to initiate a Court action to get appointed as the estate trustee to manage and settle the estate. Without a Will, the intestate provisions of the Succession Law Reform Act will decide the distribution of your estate assets between your spouse and children or grandchildren. If there are no surviving spouse, children or grandchildren, the Act provides that your surviving parents, siblings or their children, or other blood relatives can become the heirs of your estate. If you have no blood relatives and die without a Will, your entire estate is inherited by the Ontario Government through the Office of The Public Trustee and Guardian. Where there is no Will, there is no provision in the Act for donations to any charities or community organizations or any other beneficiaries even though you may have been connected with or supported these entities/individuals during your lifetime. KEEP CONTROL. MAKE A WILL!

Top 10 Things You Can Do Today To Leave A Legacy 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

Prepare a will Leave a gift Be Specific Consider assets Name an alternate beneficiary Existing life insurance New life insurance Memorial gifts Encourage others Ask your advisor Back to Contents