It’s Scott Brubacher here with our Boomers on the Move. In this session, I’m interviewing Timothy Pusztai, barrister and solicitor with Foster Law. He explains the pitfalls of estate planning so you can make the right decisions for your retirement and protect what you leave behind.What will we leave behind? Estate planning
One of the questions that comes up a lot for me in real estate is, “What happens to my property if I die/become incapacitated without a will?” I’ve had several clients come to me with that situation this year. So can you start us off just by explaining what exactly a will is?“
what exactly is a will?
A will is essentially a legally enforceable guidebook. For what an individual wants to have happen to his or her estate after death (your estate being a legal version of you after you die). We often say that that property falls into your estate after you die, and the
will sets out how that property is to be divided… That has to be managed by what we call an administrator, state trustee, or executor. That is the basic function of a will.
Now, you asked me what happens if you die without a will. If you die without one, your property is not gone or automatically paid to the government; however, you have no control over how it’s distributed…”
What will we leave behind? Estate planning Video
Lawyer Timothy Pusztai began his legal career working in a large, high-volume firm. He quickly perceived that taking the initiative to create an organized, streamlined approach was indispensable. In fact it’s a key determinant in a lawyer’s ability to pursue and achieve optimal results.
Since then, our firm has maintained a structured and clear-sighted method to working on clients’ legal matters. Our aim is always to work methodically and concertedly to place our clients in the most legally protected and advantageous situation. <Contact Timothy> We are so happy to have Timothy as a guest speaker for our Boomers on the Move.
What will we leave behind? Estate planning with Boomers on the Move
Scott Brubacher Broker Royal LePage Meadowtowne Realty Brokerage