“A surprising 51% of Canadians have an estate without a Will.” Angus Reid Institute Why are so many of us neglecting this important part of planning for our future? And what happens to an estate when it doesn’t have a Will or Executor to direct it?
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.
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…
A relative’s grudge can cause serious financial harm to your estate. A recent case shows how much damage can happen. We all have fights with our relatives. Thanksgiving and Christmas dinner are perfect examples of family gatherings where relatives air their grievances, addressing family issues in front of everyone. While nothing seems worse in the…
Charitable gifts are steadily gaining popularity among Canadians. While including a charitable gift in your will is not a new concept, more and more people are choosing to make charitable gifts while they are still living, too. This seemingly perfect way to gift your assets to your loved ones and organizations comes with a warning,…
Everyone should have the right to make alterations to their own will, but this seemingly simple request becomes more complicated as you age. An excellent article by Charles Ticker from The Sibling Fight tells the story of Eva Rova Barnes, a 95-year-old women living in Bremerton, Washington, who is the perfect example of the difficulties…
Assisting your clients with estate planning is a complicated task wrought with challenges both legal and client-related. This is especially true when it comes to late-life will changes. Lawyers need to be aware of the risks that are involved in assisting clients with their late-life will updates – and most importantly, how to reduce those…
