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 […]
Implications of Citizenship In Estate Planning
It is important that you consider whether you have tax ties to other jurisdictions because of your residency, citizenship or domicile. Movement across jurisdictions and borders is now very common in our world, whether for vacation, retirement or international work assignments. Residence is the act or fact of dwelling in a place for a period […]
How Free Are You to Plan Your Estate?
Testamentary freedom is the principle that a will is only valid if the testator was, at the time of making the will, free to do as he or she wishes with respect to the disposal of his assets on death, subject to certain exceptions. A study of the legal framework in which succession planning operates […]
Designating A Plan Beneficiary In Your Will
Ontario legislation enables a testator to appoint a named person to be the beneficiary of a registered retirement savings plan, a registered income fund and other pension(s). It also outlines very specific criteria to effectively revoke a designation made in a will or on the face of a plan document. In Laczova v. House, 2001 […]
When Saying “I Do” Undoes Your Will!
It is always a prudent to review and update your will regularly, say every two or three years. However, there are certain life events which should trigger in a testator’s mind that this exercise should soon be completed. Marriage is one such an event as, with few exceptions, provincial statute provides that marriage has the […]
Ending Right of Survivorship
A key aspect of assets owned by two or more people in joint tenancy is a right of survivorship. This means that when one of the joint owners dies, full ownership transfers to the survivor(s) automatically by operation of law. There are, however, occasions on which it is desirable to have the right of survivorship […]
Do You Own Foreign Assets?
People who have assets in more than one jurisdiction may wish to prepare and execute an International Will under the “Convention Providing a Uniform Law on The Form of an International Will”. This Convention is included in the relevant succession statute for Ontario and includes, amongst others, the following provisions: All persons licensed under the […]