Will Planning Checklist
There are many decisions you will have to make when you draft a Will. If not thoroughly considered, some of these decisions can have unintended consequences. Here is a checklist of some of the issues that should be discussed before you make your Will.
Personal Record Keeper
Take the time to document the important information in your life, such as your household accounts, savings and insurance plans, and who your professional advisors are. Not only is this a convenient way to keep a better handle on your personal and financial information, it also becomes an invaluable tool for your loved ones should anything happen to you.
Executor’s Handbook
When you become an Executor you are really becoming a legal Trustee with all the rights and responsibilities that come with that position. This handbook provides you with a solid overview of estate settlement and will hopefully provide you with some useful information and tools to expedite your responsibilities in a timely and competent fashion.
Your Will Planning Workbook
A great deal of thought and planning needs to go into preparing your Will. Not only should you consider what your estate is currently worth, you should also consider your future sources of wealth. Click here to download a helpful will planning guide.
Looking for a retirement home?
If you - or somebody you know - are considering moving into a retirement home, here's a list of questions to consider when choosing a facility.
The Value of Naming a Beneficiary
In Ontario, the value of naming a beneficiary can be significant. If you name a beneficiary, an insurance company is obligated, under the Insurance Act, to pay any death benefit proceeds to the named beneficiary on record. Because the death benefit proceeds do not pass through the estate, they not only avoid the delays of settling the estate but also bypass probate and other estate administration fees. To learn more about how important it is to name a beneficiary, please contact us or click here.
Ontario's Estate Information Return
Ontario's probate process is governed by the Estate Administration Tax Act, 1998 ("EATA"). In 2011 Ontario enacted significant changes to the legislation. With these regulations in place, Ontario released its Estate Information Return, which executors will be required to file for estates for which an application of probate had not been submitted prior to January 1, 2015. To learn more about how these regulations may affect you, please contact us or click here.
Alter Ego Trusts - the answer to probate fees?
Alter ego and joint partner trusts have been gaining in popularity as a way to avoid probate. But are there alternatives? To learn more, click here or contact us.