Estate Planning for Marital Property
Many of my clients have expressed concern about how best to protect their or their child’s interest in a matrimonial home. The Family Law Act (Ontario) (the “Act”) is the basis of this concern. The Act aims, in part, to achieve an equal division of property acquired during marriage between legally married people when a […]
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. […]
Will Kits: Cookie Cutter Disasters
Having a will is undoubtedly an essential part of proper estate planning, yet many individuals do not make this a priority. With so many on-line gimmicks proposing quick and easy do-it-yourself will kits, it is not surprising the vast majority of people who use them do not realize the difficulties their loved ones will face […]
Understand Your Home Insurance Policy
Recently, dozens of home and business owners in Goderich suffered tremendous losses as a result of one of the most severe tornadoes to hit Ontario in 15 years. If you know you would not have the right insurance coverage to rebuild and cover your financial loss after a tornado, fire, flood or other natural disaster […]
Powers of Attorney and Guardianships
“Powers of Attorney and Guardianships” for Woodbridge Library, Woodbridge, Canada, October 20, 2011
Protecting Your Estate
“Protecting Your Estate” for Sunlife Financial, Woodbridge, Canada, October 5, 2011
Wills and Powers of Attorney
“Wills and Powers of Attorney” for Pierre Berton Resource Library, Thornhill, Canada, August 25, 2011
Choosing the Right Estate Trustee
The Estate Trustee (also known as the executor) is the person appointed in an individual’s will to carry out the instructions in the will. As this role requires much time and effort, the person so appointed should be chosen with great care. The duties of an estate trustee include: arranging for the funeral and burial […]
Effective Succession Planning for Cottages and Investment Properties
Despite the obvious benefits of owning a cottage or investment property, there are numerous issues that can arise when they are transferred. For example: Which children, if any, are interested in future ownership? Which one(s) do you want to transfer it to? What are the tax and probate fee implications to transferring the property now […]
Wills and Powers of Attorney
“Wills and Powers of Attorney” for Pierre Berton Resource Library, Thornhill, Canada, June 23, 2011