Category Archives: Estate Planning

Estate planning is a must for all of us, but it doesn’t have to be painful.

With the right information and resources, you can have a worry-free plan in place that protects your family from any financial or legal risks.

Find answers to common questions below or you can browse our full library of free estate planning resources:

If you’re looking for more help closing any gaps in your estate plan, make sure you follow these 5 Steps for protecting and preparing your estate.

 


 

Toronto Executor & Trustee Pay $1 Million in 7-Year Estate Battle

“Horrific.” “Nothing short of a nightmare.” This is how both parties of a recent 7-year long estate battle described their experience to The Toronto Star. Terry Dooley, a semi-retired accountant from Toronto and the executor of the estate, was defending himself alongside the estate trustee against claims made by a relative of the deceased. The…

How to Close Gaps in Your Estate Plan Using this Custom Checklist

Are you 100% certain you’ve thought of everything you need to cover in your estate plan? Children, real estate, pets, financial assets, business succession plans, and charitable donations are the tip of the ice berg. You need to close gaps in your estate plan now before it becomes a huge financial and legal problem for…

Estate Planning in Canada 2020: Social Media, Cryptocurrency, & Digital Assets

Every year brings new technology to make our lives easier and more efficient, but as we all sign up for electronic billing, social media accounts, and financial planning apps, it makes estate planning in Canada more complex. If you or a loved one were to pass away suddenly, consider these questions: Does anyone have your…

The 725 Days After Your Funeral

Have you ever considered the amount of time and attention many people spend organizing, pre-planning, or writing down their preferences for their funeral? It’s a very important statement for some people, but for many others, it is done simply to minimize the emotional discomfort and potential tension that final arrangements can create within the family….

Can You Include Pets in Your Will?

A growing number of pet-owning Canadians are revising their Wills to include their four-legged family members. Though the idea may seem a bit bizarre, the reasons for including pets in your will are quite the same as including a child: As a safety precaution should the owners pass away before the pet. To avoid the…

Passing of Accounts: The Under Utilized Release for Trustees

by Sarah ShipleyWills and Estates Lawyer since 2011 The passing of accounts refers to the formal process by which a personal representative, whether Estate Trustee, Trustee, Attorney or Guardian collectively referred to herein as a “Trustee”, presents the estate or trust accounts in the court approved format to the beneficiaries and the court.

Who Should Be My Executor?

“Who should be my executor?” is one of the first and most important questions to ask yourself when you’re making your estate plan or Will. Planning an estate or preparing a will involves important decision making. Every year, Canadians consider which items to include in their will. Some of these items include choosing a guardian…

The Cottage Co-Ownership Predicament: Who Will Inherit our Family Cottage?

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…

Anthony Bourdain’s passing gives Canadians Insight Toward Rewards Points After Death

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…