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 […]
The Relevance of Capacity to a Will
When you choose to prepare estate planning documents such as a will and powers of attorney for property and personal care, it is a pre-condition for signing those documents that you have the capacity to sign them. “Capacity” means the ability to fully understand what you are signing and the effect of what you are […]
Transferring Assets into Joint Names and the Impact on Estate Planning
There can be a variety of reasons why someone might choose to transfer a solely-held asset into joint names. For example, a child might be assisting a parent to manage their finances — the child is added to bank accounts or investment accounts or a parent thinks that since they will be giving their home […]
Common Estate Costs
Before any money or property you leave behind is passed on to your loved ones, your debts must be paid first. Other estate costs, such as funeral costs, legal fees, and other administrative expenses in settling your estate, will also arise. There may be other common estate costs, such as estate administration tax and taxes on investments […]
Is Your Personal Injury Settlement Protected in the Event of a Family Law Claim?
In the event of a separation, there will be an equalization of the property that was accumulated during the marriage. What does this mean for individuals who are separating and who received a personal injury settlement during the marriage? The answer is – it depends. How the settlement is treated will be determined by the […]
Ontario Superior Court Case — Probate Fees and Double Wills
November is both make a Will month and financial literacy month — what better time to share some thoughts on a recent decision from the Ontario Superior Court on double Wills? Once we’ve helped our client with the substantive part of estate planning — the decisions on who gets the cuckoo clock, the diamond brooch, […]
Duties of an Estate Trustee
Many people are familiar with the concept of being named the Estate Trustee (formerly known as an Executor) of an estate, but few are aware of the various statutory and common law obligations that come along with this responsibility. The Estate Trustee is the representative designated to carry out the terms of a last will […]
Estate Entitlements Upon Death: Does it Matter if You are Married?
The misconception that common law partners have the same rights as married couples is not uncommon. Despite the similarities between common law and married couples, the two relationships are not always treated the same under the law in Ontario. This blog post sheds light on the inheritance rights upon death of a married spouse versus […]
