Have you put off making your will? Is it because you can’t decide who your executor should be? I can solve that issue for you. You need to make a will to name your estate executor. Don’t stop reading because you have not made your will yet….
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Albert didn’t bother talking to a lawyer. He wasn’t sure if he was playing it safe. Albert was executor of his uncle’s small estate. He didn’t realize, however, the size of the estate’s liabilities. His uncle’s RRSPs were transferred directly to his designated beneficiaries. Unknown to Albert,…
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Question 6 Are there foreign or business assets? Wouldn’t it be nice to travel to Europe? What if the estate has assets in another province or country? Will you have time and ability to manage assets in other jurisdictions and with different legal requirements? Are you familiar…
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Question 2 Can you handle the executor job? Should you renounce if you are 83 years of age and living 3,000 miles away? Do you have health problems? Why risk your health with the stress of administrating an estate? Consider renouncing. Arguing with people over estate problems…
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Question 1 Is the Estate Broke? Most executors find being an executor is more work than they expected. No one ever warned them before they got involved. People wished they knew how much trouble being an executor was. Before you act, here’s what to ask first: Q…
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Being an executor may be an honour but it is also a job. It is a job you are not legally obligated to accept. Ask these questions about your risks. If you’re worried, seek legal advice about your options. Estate advice may reassure you or you may…
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Three times a year I update this published text. With permissions, I have posted this Publisher’s Note. What’s New in the May 2021 Release • Chapter 16: Will Challenges In Magnotta v. Magnotta, 2020 CarswellOnt 1096, 2020 ONSC 316 (Ont. S.C.J.), the court stated estate creditors that have no financial interest…
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Circle your answer and check for the correct answers below. “Executor” is the name of: a) a new planetb) a part of the brainc) a person named in a willd) all of the above Executors are Ontario estate trustees, estate representatives and fiduciaries named in: a) a…
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You need to understand these common terms. You will find them used in most lawyer-prepared Ontario wills. I’ll explain the difference so that you can understand why they are crucial to protecting your loved ones. Let me assure you with this tip when you make your will:…
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MrWills.com was born in 1997 after the first Ontario Make a Will Week campaign. I was founding chair of this Ontario program that ran November 17–23, 1997. Lawyers across Ontario were involved. At that time, only 39.8% of adult Ontario residents had a lawyer-prepared will (Decima Research,…
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