Charitable Donations In Your Will
Did you know that you have more options than just leaving portions of your Estate to people? You may actually consider leaving a legacy to a named charity which, by legal requirement, will have one or more of the following charitable purposes: the advancement of religion, the advancement of education, relief of poverty or public […]
Changing Your Will
There are many life events that should trigger you to consider your estate plan, including whether your will should be updated: 1. The birth or death of a Beneficiary, Estate Trustee or Guardian; 2. Purchase or sale of major asset(s); 3. Moving to another jurisdiction; 4. Your marriage or divorce or that of a loved […]
Probate Planning With Multiple Wills
Probate tax, also known as Estate Administration Tax, is payable at the rate of approximately 1.5% on the assets owned by a deceased person and which pass through their estate. The tax is paid at the time an Estate Trustee (Executor) named in a Will applies to Court for a Certificate of Appointment of Estate […]
When Estate Debt Exceeds Assets
Creditor claims can present significant difficulties in an estate administration. The main stakeholders affected by this situation are the estate trustee, creditors and beneficiaries. First, no distribution can be made to beneficiaries before the debts and liabilities of an estate have been satisfied or paid. Second, an estate trustee (executor) may not wish to spend […]
Splices in Time
There are times in the world of estates when the circumstances of life unfold in such a way that a will needs to be interpreted in light of the facts that occurred. Barbeau Estate, 2012 ONSC 3249 (CanLII) was just such a case. In it, the Estate Trustee asked the Court to interpret two clauses […]
Unravelling the Mysteries of Spousal Beneficiaries
The value of preparing an estate inventory during an estate planning initiative cannot be underestimated. In general it: 1. is a starting point for your estate trustee (executor) or attorney under power of attorney; 2. supports your decisions enabling defense against a claim that you were not in your right mind at the time you […]
When Family Dynamics Dynamite An Estate
The process of planning your estate can be a sobering initiative with many benefits. It is an opportunity to: 1. consider the legal steps you can take to best ensure that your wishes and intentions are carried out in the case that you are not able to make decisions for yourself and when you are […]
What Will Happen To Your Pet If You’re Not There?
Although it may be tempting to make light of estate planning for pets, many pet owners worry about the fate of their beloved pets when they die. Although pets are very often cared for after the death of their owners in informal, non-legal arrangements, such arrangements may not be adequate and pet owners should make […]
Post-Inspection Concerns: When Things Go Wrong
There may come a time that you discover something wrong with your house, and you may find yourself disappointed with your home inspection. Intermittent or concealed problems You can only discover some problems by living in a house. They cannot be discovered during the few hours of a home inspection. For example, some shower stalls […]
Missing Estate Gifts
From time to time, testators (will makers) gift specific assets in their wills which later cannot be found at the date of death because they have been destroyed or disposed of. In such a situation, the gift will fail in that the intended beneficiary will receive nothing and the gift is said to have “adeemed”. […]