RRSP Designations Within an Estate Plan
There are two common ways to designate a beneficiary of your registered plan: On the application form for the plan. This method allows for quick transfer of the plan benefits to the beneficiary upon your death. It also means that your estate will not have to pay probate fees on the value of the RRSP. […]
Due Diligence Can Prevent Estate Litigation
Poor choices made by financial planners in connecting their clients to wills and estate lawyers can, and often do, result in lengthy and expensive estate litigation. Solicitor negligence is not something that people like to talk about, but it can be a problem, said Markham-based Andrea Kelly, barrister and solicitor, speaking at the CIFPs’ 9th […]
Living Wills: Communicating Your Health Care Wishes
A “living will” is an expression used to describe a document containing a person’s medical care wishes should they become unable to communicate them due to incapacity. A living will clause is often contained in a Power of Attorney for Personal Care (POA PC) as the attorney must have regard to treatment wishes they are […]
No Will?…Then What is Your Spouse Entitled To?
I have recently been concerned by the number of people that assume that their spouse will receive their entire estate should they die without a will (also called dying “intestate”). However, as we will briefly explore here, that will not necessarily be the outcome.
Personal Effects: Have You Considered Their Effect?
The division and disposition of a deceased person’s personal goods and household effects is often a contentious issue, particularly amongst family members. The conflict is most often caused by sentimental and emotional values friends and family members place on the items rather than their intrinsic values. Unfortunately, most people spend relatively little time considering how […]