Clients ask me if it is okay for their adult children to use online will providers to make their own wills. The answer is not complicated, but you must know why. First, let me make two disclaimers: You can have your financial planner answer questions about estate…
Read full article
#13 You Can Have Multiple Wills Yes, you can have more than one will. This strategy is vital in dealing with business and foreign assets. In some cases, you can reduce Estate Administration Tax (EAT) taxes in Ontario by having multiple wills. However, having multiple wills is…
Read full article
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,…
Read full article
#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…
Read full article
#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…
Read full article
Your Call to Duty It’s simple. When you act as executor, you are called to duty. A friend or relative may have asked you to be their executor. You may not even recall if you said yes or no. You may be worried that you’re inexperienced. You…
Read full article
As an executor/estate trustee in Ontario, you face many challenges. Here are some tips to help you. As a fiduciary, you have obligations to creditors and beneficiaries alike. You must act as a neutral even if you are beneficiary yourself. That means you cannot give yourself priority…
Read full article
Having a will ensures your loved ones are provided for. Read Part 1 of this post. Your estate trustee or executor is the person named in your will to distribute your stuff. Without your will, courts must appoint an estate trustee without a will. Executors can be…
Read full article
You’ve worked hard all your life to provide the very best for your family, friends and community. How do you ensure this will continue? The answer is simple; through a legal document – your will. Here are some things to consider: The time and cost of a…
Read full article
What happens when you fail to make a will? Ontario judges have limited discretion to decide who handles your estate when you do not bother to make your will. If there is no will, an intestacy is created. That’s when the government makes a will for you….
Read full article
416 769 - 9800