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….
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Don’t miss Part 1 of this post, Are You Prepared? Discover Your Estate Planning Readiness with my Ontario Quiz Answer true or false. Q6. I can change my will by initialing the changes on the original. True or false? False. This misconception can lead to a court…
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Answer true or false. Q1. I need a lawyer to make a will. True or false? False. You can make your own will without a lawyer but it’s very risky. Do-it-yourself wills are frequently challenged in court. Your beneficiaries may later spend tens of thousands of dollars…
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It keeps happening again and again. Monica came into my office because she was in an estate dispute. She asked what she thought was a simple question, “Why bother making a will if wills are not valid?” My answer was simple. “You must ensure your will is…
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Read Part 1 of Anna’s, a common law spouse, story here. Anna claimed she had paid $25,000 which was half of the purchase price of the condominium. She should have become an owner of 50% of the condo. That was what Jason owed her according to Anna….
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This week I received a call from a relative of someone who died. After expressing my condolences, I asked if there was a will. The answer was the person refused to discuss wills with loved ones. The conversation shifted to me asking, what did this person have…
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Do you suffer from estate planning-itis? You may never know it. Has it infected you? It may or may not be contagious but can spread to your partner or spouse. Let me explain that a cure exists. Estate planning-itis is basically a fear of doing any estate…
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What are the costliest money mistakes you can make? Forget about what happens to your money when the real estate and stock markets collapse. The biggest blunder is not having an estate plan. Why is that? Everything you worked for during your entire life can be wiped…
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So, you think you can put whatever you want into your will? After all, it is your money, isn’t it? WRONG! Your executor/estate trustee must pay all your taxes. You need advice on taxes that are payable on death. During the pandemic, you may have bought online…
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What’s your plan to protect your family’s money after your death? We all know family estate fights can start once you’re gone. It does not matter how much money is at stake. You don’t have to be rich to need a will. Wills help reduce taxes. Your…
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