Wills are the cornerstone of most financial and estate plans. Wills designate who is your estate executor or Ontario estate trustee. Executors control your estate. Estates include all the stuff that you leave behind when you’re gone. Why Wills are Important Wills are more than a letter…
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What Are Online Wills? Online wills are DIY (do it yourself) or homemade wills created on websites that guide consumers through a standard set of questions. Once these questions are answered, consumers can print and sign wills with witnesses. These websites may or may not state that…
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Here are five reasons why you should avoid cookie-cutter wills from online will providers. If you or your family have these special circumstances or needs, I recommend that you speak with a professional in your jurisdiction to prepare your will. Do not try to do estate planning…
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A recent article in the Globe and Mail by famous author, Tim Cestnick, outlined 3 reasons wills can create problems. Tim explained why many wills are commonly challenged. Wills are legal documents that judges must validate – meaning that wills must comply with Ontario laws. In Ontario,…
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#10 Income Taxes: Much Ado About Lots PART 1 Q: Can I avoid paying my income taxes by dying? A: Afraid not. The government has a way of getting their money even if you don’t make a will. The government gives you a will that…
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Why Professional Wills Don’t Cost Anything Lawyer-prepared wills are investments that save money. Good wills cover a span of 5-10 years or more. Spread will your costs over this period for pennies a day of protection. That’s? Much less than your annual car insurance bill. Lawyers make…
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#8 Do-It-Yourself Quiz Avoid the biggest financial mistakes you can make when preparing your will. Read my previous post, #7 Do-It-Yourself Dangers. Answer Yes or No to each question in the following quiz and read my comments below them. I believe this exercise will convince you that…
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#7 Do-It-Yourself Dangers Read post #6 in my series, Breakthrough Wills & Estate Planning Series. You may, like a lot of people, prepare your own tax returns. As you may have found out the hard way, if you’ve ever made tax filing mistakes, the government can charge…
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You want to know more about end-of-life decisions. Medical Assistance in Dying (MAiD) was illegal under Canada’s Criminal Code. It was considered homicide or assisted suicide. In 2014, Quebec introduced an Act respecting end-of-life care. In 2015, the Supreme Court of Canada in the Carter decision held…
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Let’s start with the positives. Good estate planning can make it possible for you to inherit millions of dollars. The best estate plans need professional advice and experts to avoid mistakes. Bad estate planning mistakes can start money wars. And money wars in an estate can cost…
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