Depending upon the size and complexity of an estate, it could be relatively simple or more challenging to administer. Those in Ontario thinking about taking on the role of executor need to ask themselves some pointed questions about the duties of the position before...
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Mississauga Wills & Estates Law Blog
What is an individual responsible for as an executor?
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The ins and out of challenging a will
People who take the time for comprehensive estate planning try not to make errors. Unfortunately, some family members who feel slighted by a will during the estate administration process might choose to challenge the will. Doing so can be costly, time-consuming (it...
Probating a small estate in Ontario
Once a person dies with an estate plan in place, it’s time for that plan to be enacted. Estate administration can be an involved process, but the estates of many Ontario residents are considered to be small, meaning having a value of $150,000 or less. These estates...
What about having 2 executors for an estate plan?
In many cases when two minds work together for one purpose, it’s a good thing, but in some instances it can backfire. When first thinking about it, naming two executors to administer an estate plan might seem like a pretty good idea, but is it, really? In Ontario,...
Dealing with the stress of estate planning
Some people are so stressed out over writing an estate plan that it actually becomes harder than it needs to be. Firstly, it’s important to understand that you don’t have to navigate estate planning alone. There are professionals who may be of great help like lawyers,...
Do executors have to apply for probate?
Most people want to ensure that everything is in place legally for their loved ones after they have passed away. That means ensuring all documents are included in an estate plan when it comes time to put that plan to use. However, even when an estate plan is solid and...
How millennials are changing estate planning
People have become more tech savvy over the last decade or so. It’s safe to say that younger people in Ontario -- millennials who were born between 1981 and 1996 -- look at estate planning very differently than their grandparents or parents did. For this generation,...
How do probate fees figure into estate planning?
It has been said that there are two certainties in life: death and taxes. And both these things apply when it comes to estate planning for Ontario residents. Estate administration taxes or probate fees are a fact of life and death. The fee coincides with the total...
Changes in Ontario estate planning
Bill 245 has received royal assent, and that means some pretty major changes when it comes to writing estate plans. That bill in Ontario affects the Succession Law Reform Act and Substitute Decisions Act, which have been amended so that people can witness powers of...
Estate planning: Being prepared for escalating inheritances
Inheritances in Canada are expected to climb to a level as high a $1 trillion over the next decade. Experts say both testators and beneficiaries in Ontario need to be prepared with proper estate planning measures. With this information in hand, estate planning may...
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