Donating to Charity as Part of Your Estate Plan
At a fundamental level, donating to charity feels good. It allows you to support causes important to you and can have a lasting impact on the lives of many people. Another benefit is that there are generous tax incentives available to those who donate to charity. If you are considering a charitable donation as part […]
Over Involved Adult Children and Estate Planning: When Does Assistance Become “Suspicious”?
It is natural and expected that children want to assist their elderly or ill parents in any way that they can. In the context of estate planning, however, there is a risk that too much “assistance” may cross the line to create circumstances that are suspicious, thus leading to a finding that a will is […]
Update on Digital Assets
Digital assets are becoming increasingly important to Canadians, yet they are rarely addressed in wills. The digital nature of assets does not alter the fact that they are, indeed, assets. They form part of your estate on death, and it is important to leave clear instructions to your estate trustees about what should happen to […]
Do Banks Freeze Your Accounts on Death?
There are many horror stories told by individuals who have been unable to access money in the account of a deceased, even in order to pay bills which were clearly those of the deceased. The fact is that banks will in fact freeze accounts of an account-holder upon learning of the account-holder’s death. This can […]
Estate Planning for Your Pets In Ontario
As of 2018, 41% of Canadian households have at least one dog and 35% of Canadian households have at least one cat. And if you are one of those households, chances are you consider your animal companion a part of the family. Yet it is not uncommon that many pet owners fail to account for […]
Planning for the Family Cottage
The dog days of summer are finally here and for many of us, this is prime cottage season. A cottage property is a common asset for many in Ontario, however, one could argue that no other asset has the potential to cause so much trouble later on. As the name suggests, a “family cottage” is an asset which […]
Who Gets the Grandfather Clock?
Or, as I heard yesterday, the grandmother clock. When you think of preparing a will, you are usually thinking about your money —however much or little money there is, and that, of course, includes the proceeds of the sale of assets such as your house. Your focus tends to be on making sure that the […]
Who is Entitled to See the Will?
A Will is a living document and will change over the course of your lifetime. You are allowed to show your Will to anyone you like, but you are also entitled to keep it private. Upon execution of your Will, you should confirm with your estate trustee that they have been named in your Will […]
Social Media, Digital Assets and Estate Planning
In this day and age, preparing a will is not as simple as it used to be. In the past, a list of bank accounts, real estate assets (for those of you lucky to have a house, and even a cottage!), and investment holdings was all you really needed to worry about with respect to […]
