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November 2017 Archives

When Green Acres becomes a black hole in estate planning

In the film Gone With the Wind, Scarlett O'Hara realizes there is nothing more valuable than the land which is owned by her family. Many people in the throes of estate planning in Canada should take into consideration that property may be one of the assets their heirs would most like to have. Sometimes that can cause problems, considering the family farmhouse usually can't be split in half.

Ontario estate planning and property in common law marriages

Some common law couples assume that because they live together and share their lives as though they are legally married that the law views their situation in the same light. In terms of estate planning issues in Ontario, that is not always the case. Even if a couple has lived together for decades as a common law husband and wife, they have different property and legal rights, including the sharing of a matrimonial home or any other property.

Affluent Ontario business owners may face estate planning issues

Successful business owners are busy people and consequently might put important things directly unrelated to their businesses on the back burner. Such could be the case with estate planning. Ontario entrepreneurs may be put off by the complexities of working on their estate plans, especially if they intend to pass down the business to their heirs. So, an exit plan is likely just as important as a startup plan.