Are you an executor or an estate trustee in Ontario? This post will help you understand the complex issues affecting spouses in Ontario estates. It will also help you understand your rights as a spouse. There are different kinds of spouses. Each category of spouse has different…
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What is involved when you probate an estate? Probate is a legal process that certifies who is entitled to control the estate as executor. It also decides who shares in the estate (beneficiaries). Technically, a will is probated and an estate is administered. Most people informally refer…
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You are a professional and your client asks you to be their executor. What do you need to know before you say ‘yes’? I identified the top 10 questions you should ask to protect yourself. 1. Are you ready to transfer your professional, impersonal relationship into a…
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How long does it take to handle an estate? Every estate is different. You should consult with a lawyer about your time commitments as executor. There is a rule of thumb called the executor’s year. This describes how long a beneficiary should wait for a distribution from…
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When can executors take charge of the estate? Your appointment as executor is effective when a person dies. A deceased person’s property legally “vests” in you as their personal representative, executor, or estate trustees. That’s a way of saying you become the legal—but not registered owner—of all…
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Ontario has new estate rules to tax estates. Executors, don’t be caught off guard.Starting September 2015, you can become a happy executor. Join me for The Happy Executor “How to Be an Executor” seminar series for executors and executors-to-be. You will learn how to: use your executor…
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I will try to make this simple. Any talk of taxes usually can make you fall into a coma. But stay with me to avoid estate tax audits and costly penalties. Being an estate trustee in Ontario was complicated enough. As of January 1, 2015, the job…
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You’re the estate executor under a relative’s will. You found your uncle’s will and you need legal advice. You look for free advice online. You’re thinking all lawyers are the same. Any lawyer can give you estate advice. Well, let me explain how this thinking can cost…
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Are you an estate trustee, wondering if you need professional tax help? You may say, “Why bother? After all, I prepare my own personal tax returns.” The risks are too great to do it yourself. I recommend clients avoid these risks. Forget about doing estate tax returns…
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Do you expect to inherit a joint bank account? Then you’ll want to know what happened to Wendy. Wendy needed to a lawyer to fight for a joint account she held with Larry. When Larry died, Wendy thought she would inherit the $64,000 in their joint account….
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