Originally Published: September 2021 Updated: July 2023 An important part of estate planning is creating your Will, which outlines how your assets should be distributed after death. So, who inherits
When a loved one passes away, their Will should lay out their wishes for their property and other aspects of their life to minimize disputes and represent their best interests.
Originally Published: April, 2018 Updated: May, 2023 What is a Will and what happens if it is lost or destroyed? A last Will and testament is a document that sets
Inheritance is the distribution of a person’s property, including their debts and obligations, upon death. Typically, inheritance usually passes from an older generation to a younger generation. In Ontario, the
Cryptocurrency, such as Bitcoin, is a virtual, modern, and non-governmentally issued take on money. This form of currency poses some highly interesting questions in the realm of estate planning. Take,
You are never too early to make your Will in Ontario. Having said that, according to an Angus Reid Institute poll from 2017, more than half of Canadians don’t have
When a loved one dies, you will have a number of legal responsibilities to deal with… one of the major ones being locating the person’s will and administer the estate
The death of a loved one or family member is always difficult. Therefore, disputes over an estate can often be protracted, emotional and complex. We have summed up the most
Effective January 1st, Ontario is enacting new laws which are focused on the validity of wills when it comes to re-married/divorced couples. When someone remarries after a divorce, their Last
Ontario’s Succession Law Reform Act (SLRA) is a respected piece of legislation that was first enacted in 1977. As a result of COVID-19, the SLRA made a large number of
When it comes to being appointed Power of Attorney of someone’s property, health or wellbeing there are misconceptions of the decisions you are entitled to make. A Power of Attorney
It is important to note that there is a very large difference between a Last Will and Testament and a Living Will (or what we call a Power of Attorney
An estate administrator/trustee (hereinafter referred to as the “Executor”) is responsible for dealing with the deceased’s affairs after their death and for administering their estate. When drafting a Will, the
If you have a will or plan on making a will, you also should know the number of ways it can be revoked or cancelled. Most commonly, marriages, divorce and
Updating a will can seem like a chore that can always be put off until tomorrow. Of course, we know that a will is specifically for planning what happens in
Estate Planning is laying out a framework for how your possessions and assets should be distributed when you die. It is also when you would deal with designating someone to
As many as three-quarters of Canadians don’t have an up to date will. While it may be uncomfortable attending to questions about your own mortality, a will is an important
Being named as an estate executor is an honour; it shows that you are highly trusted, and perceived as responsible and competent. However, this responsibility can feel stressful. Administering an
It can be uncomfortable to think about planning ahead for your own death. The fact remains, however, that this is something that everyone needs to prepare for in order to
With a loved one’s passing comes the sometimes daunting task of sorting out the terms of the Will and dealing with the deceased’s finances. If you have been named the
The death of a relative or someone you had a relationship with can be challenging. Learning that the Will was not what you expected can raise suspicion about whether the
Taking the time to clearly define the plans for your estate is an important step for making sure that your assets pass on to your loved ones exactly according to
It is a common law rule in Ontario that an estate trustee has a year following the date of death to finalize an estate. During the first twelve months, the
It is a common law rule in Ontario that an estate executor (formally known as the “estate trustee”) has a year following the date of death to wind up an
Last week we discussed the forfeitures that you surrender by not leaving a Will. Today we will discuss the SLRA and laws of intestacy that govern your estate in the
Nobody likes to think about their own mortality, but failing to make a Will can cause significant problems and expenses for your estate and loved ones if you were to
Whether you are deciding how your assets will be distributed after you pass on or are helping a loved one make their decisions, you want to ensure that the careful
In the aftermath of the death of a family member, friend or colleague, you may be entitled to a portion of their belongings or estate. Unfortunately, depending on how precise
Estate laws and regulations are a means to get the information you need from a trustee The passing of a relative often leads to a great deal of stress and
A recent Ontario Court of Appeal decision is an example of the difficulties of sibling rivalry in estate litigation. The Mountain case involved a dispute between the son (Gary) and
