Relaxing lake-side at the cottage is a classic Canadian past-time, but at the end of the day it leaves many families with the same cottage co-ownership challenge: who’s going to inherit it? Unfortunately, the sentimental value intertwined with many cottages makes them a common target for estate disputes and conflicts. So how can Canadians prepare…
Feature By Marg Bruineman Canadian Lawyer Magazine Disgruntled beneficiaries are increasingly prepared to challenge wills, leaving the executor’s challenge of struggling to carry out the deceased’s instructions. Instructions from beyond the grave can be a difficult thing. As with most things, wills too have limitations. But how far should he or she go in fulfilling…
There is a misconception surrounding ‘closed’ estates and why an estate can never really be closed. Being the executor of an estate can be a lengthy and tiresome job. Once an executor has paid all of the estate bills, distributed the assets to beneficiaries, and received a clearance letter from the CRA, you’d think your job…
Most executors don’t think of themselves holding legal liability as a fiduciary, but there are risks that come along with the convenience of modern technology. The cybersecurity risk for executors is very real and it presents a large source of potential problems that executors and advisors need to consider.
When preparing your estate plan or will, it’s important to include all of your possessions and finances – but what happens to your rewards points after death? Some of the first assets that Canadians include in their estate plans and will include savings accounts, TFSA’s, credit cards, property, and debt, but many will overlook the…
When a legendary performer dies, it’s usually expected that they have a detailed and extensive will or estate plan in place. Unfortunately, the recent news of the death of legendary singer Aretha Franklin reminds us that this is not always the case.
Has one of your client’s paid ongoing spousal support to a deceased ex-partner? Recent developments have raised this concern for executors who forego assistance from professional estate planners.
Toronto estates lawyer Ian Hull recently published an article that appeared in the Toronto Star involving such a case in the United States. His commentary on this issue within a Canadian context sheds light on how this situation could unfold.
When it comes to settling an estate, the word “tension” seems to appear frequently. According to the Merriam-Webster dictionary, the definition of tension is as follows:
It has been eight years since the death of ‘The King of Pop’, yet his estate is still in distress. Michael Jackson will forever be the ‘King of Pop’, however, his untimely death in 2009 revealed that he left behind a debt of $500 million for his estate. Jackson had been known for his lavish…
