Hi,
I recently learned that one can buy kits to write Last Will and Power of Attorney documents at Staples for less than $20.
I bought a kit (a CD and a small booklet) that lets you create both documents for less than $20. The process of creating a will or a power of attorney is quite simple using the kit. It took me less than an hour for each document.
I unnecessarily spent $240 last time to make our wills. The lawyer was asking the same amount to update the wills.
These kits are suitable for making a will unless you have complicated business assets and liabilities. And you can continue to use them to update these documents.
The province of Ontario also provides free kits for writing Powers of Attorney; Google "Power of Attorney Kit" and "Ontario" to get the link.
Would anybody be in a position to advise; if I a resident of Canada, own a flat/unit in Mumbai can I Will it to one of my children(major) resident here in Canada?
Or would I have to sell the flat and try to bring the money here( if Indian rules allow) and then give it to one of my children?
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Many
They will provide you with a free down load and also will give you a location.. where you can drop in and get all of the information there.
In INDIA you can write a will and register it at the Registrar's Office and keep a sealed copy with you or give it to a Lawyer to be opened after your death. If you want to change or modify you can do that also and it is called a CODICIL. The lawyers here or in India can help you with all of these and also explain to you all of the meanings etc., at that time.
The property values move up and down. If you feel that they are moving up and you want to hold onto it, then so be it. If you want to sell and invest the cash in India and make a steady income for your spending here, then, you sell it and get your son/daughter as a joint owner of the investment and share the income also. The account will stay open as long as one of you are are alive and kicking.
Here is a link to a couple of locations that will help a few for FREE.: https://www.lawhelpontario.org/willsproject/
Address and Contact Information
Law Help Ontario (Ottawa)
161 Elgin Street, Room 5027
Ottawa, ON K1P 2K1
(The office is located on the 5th floor, beside courtroom 52)
Tel: 613-231-6111 ext 705 Fax: 613-231-6110
Law Help Ontario (Toronto)
393 University Avenue, Suite 110
Toronto, ON M4Y 2X3
(The office is located on the ground floor, behind the elevators)
Tel: 416-597-0770 x 705 Fax: 416-597-8984
Hope this helps.
FH.
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Quote:
Originally posted by Many
Would anybody be in a position to advise; if I a resident of Canada, own a flat/unit in Mumbai can I Will it to one of my children(major) resident here in Canada?
Or would I have to sell the flat and try to bring the money here( if Indian rules allow) and then give it to one of my children?
Hi FH : These services are free for only low income group.
Hi Aashu.. : If you find that it is for low income earners, here is a link to what it is all about in the PDF Format and a small sheet for those who just want to get a format of a will here.
Most of the seniors who are on a Pension plan and want to get help, they all will come under this, if their income is under $27,000 or there about. Also some of the libraries have an event scheduled through a financial adviser or through a lawyer some time during the year at which you can always get a copy of this, but not the PDF and it will be worth your while making a visit to it at that time and get all your questions answered too. Some libraries have a free Notarizing services once a month when these lawyers appear and provide them a free services, just as a promotion. Please check the neighborhood libraries. I know Don Mills and Sheppard has one. Please check to make sure, before you land there with papers.
Also there is one more segment that will help you if you ever become an Executor for anyone who has entrusted you with the task of settling an estate amicably, which is also available to you, if you so desire.
FH.
http://www.gblegalclinic.com/Will%20kit.pdf
Format.....
This is what the Will Template looks like:
Last Will and Testament
I, the undersigned,
(full names) ?????????????????????????????????????????????
(Identity number) ??????????????????????????????????????????.
of (residential address) ???????????????????????????????????????..
???????????????????????????????????????????????????
hereby declare this to be my Will. I hereby revoke all previous wills or testamentary writings made by me.
I nominate (full name) ????????????????????????????????????????
(address) ??????????????????????????????????????????????.
???????????????????????????????????????????????????.
to be the Executor of my Estate. Should he/she be unwilling or unable to act as executor,
I nominate (full name) ????????????????????????????????????????.
(address) ??????????????????????????????????????????????..
???????????????????????????????????????????????????.
I direct that the executor of my estate shall/shall not be required by the Master of the High Court or other competent authority to give security for proper performance of his duties. (give details of security to be given or draw a line through if not applicable).
???????????????????????????????????????????????????..
???????????????????????????????????????????????????..
I direct that my estate shall devolve as follows:
Special Bequests: ???????????????????????????????????????????.
????????????????????????????????????????????????????
????????????????????????????????????????????????????
????????????????????????????????????????????????????
????????????????????????????????????????????????????
????????????????????????????????????????????????????
????????????????????????????????????????????????????
After my special bequests I bequeath the residue of my Estate to:
????????????????????????????????????????????????????..
????????????????????????????????????????????????????.
????????????????????????????????????????????????????.
????????????????????????????????????????????????????.
In witness whereof I have signed this will in (place) ???????????????????????????.
????????????????????????????????????????????????????.
on the ??? (day) of ????????.. (month)?????? (year) in the presence of the undersigned witnesses who in my presence and in the presence of each other have signed this will as witnesses.
Signed (TESTATOR) ??????????????????..
WITNESS 1. Full details?????????????????????.
WITNESS 2. Full details??????????????????????
fh.
Thank you for your efforts FH; i am studying the possibilities.
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Many
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