The decision as to whom you should name as a beneficiary is a personal one; it is in your sole discretion when you make a will. So the answer to the question “Who should be named as a beneficiary in a will?” is: “It’s your choice!”. In simple terms, you decide ‘who gets what’.

It is fairly easy (and not expensive) for us to prepare, attend upon execution, and file documents at the land title office to transfer your home into the names of you and your children as joint tenants. That way, the property will pass on your death without having to obtain probate.

Estate planning involves making preparations for the transfer of your property upon death. That property (called an estate) can include anything and everything from money to real estate to personal belongings. This subject may make you shudder, but there are many reasons estate planning is important.

At Kahn Zack Ehrlich Lithwick LLP, we have been asked many times to prepare wills or trusts for clients who do not have children or heirs. These clients are often surrounded by a circle of loving friends and professional consultants who they can rely upon, and there are other options to consider.

A few years ago, I was approached by a financial planner, who wanted me to lead an estate planning seminar for her clients. When I asked her why she had chosen me, she replied “Because I checked you out and noted that you were born on August 27th. Your Astrological sign is Virgo. Virgos are critical thinkers, who analyze and advise. So I wanted you for the job”.