Estate Trustee Compensation
In accordance with Ontario legislation an estate trustee is entitled to receive compensation for his/her efforts in administering the estate of a deceased person. The legislation does not provide a fixed percentage or methodology for calculating same. The case law provides relevant criteria to be applied when fixing compensation, referred to as the five factors […]
Double Wills – Primary (Public Asset Will) and Secondary (Private Asset Will)
Preparing double wills is an estate planning technique which minimizes the amount of probate fees (estate administration taxes) payable on death by your estate. The purpose of “probate” is to certify that a Will has been duly proven and registered in the Court and that the administration of the deceased’s property has been committed by […]
Estate Planning for Entrepreneurs
There are many important issues involved in having a good estate plan in place, and those issues become more complicated if there is a business involved. As important as it is to have a proper will and power of attorney signed, it is also important to ensure that your affairs are set up so that, […]
Do I Really Need a Lawyer To Prepare My Will?
This is a very common question from clients, friends and acquaintances. With the availability of will kits and the ability to Google, there is a misconception that preparing a will is simple and that the time and cost to have a lawyer prepare yours is not worth it. Even the simplest of estate plans, however, […]
Things to Consider when Appointing an Estate Trustee
Looking to appoint an estate trustee (executor) for your estate? Here are a few things to consider when making this important decision: Are they capable? There is no getting around it – this is a lot of work. Does your chosen estate trustee have the ability to deal with lawyers, financial institutions, insurance companies, and […]
Are Your Affairs in Order? A Few Resolutions to Help You Out…
As we ring in a new year, many of us make a number of resolutions: do more exercise, lose weight, less screen time and more books, etc. Another goal to consider – get your legal affairs in order. We will go into more detail in future blog posts, but here are some goals to add […]
Estate Issues to Consider When Separating
If you are separating from your spouse, you should review your estate plan with your lawyer and consider what adjustments should be made in light of changing family dynamics. Below you will find a list of general steps to consider, but you should always obtain legal advice regarding your particular family and financial situation. Update […]
“Mutual Wills vs. Reciprocal Wills” When is a will more than a will?
There is much ado these days concerning disappointed children suing a step-parent who has inherited the estate of the children’s parent, leaving the children ‘high and dry’. Can such a law suit succeed? Well, as a lawyer will usually tell a client “It depends”. A will can be set aside based on the maker of […]
When is a Will not a Will?
There is a massive transfer of wealth currently happening in the province, and across the country, from the baby boomer generation to their children and grandchildren. And everyone has a hand out wanting a piece of that pie. As a result, there have been a significant number of law suits generated challenging the validity or […]
