When planning your estate, you undoubtedly want to take steps to minimize probate fees, avoid unnecessary taxes and protect assets for heirs and beneficiaries. Creating a trust can be an excellent way of ensuring those outcomes.
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Estate Litigation - Dispute resolution in the estate matters
Estate litigation is often a result of conflicts that did to get addressed during the estate planning process. Much of estate planning involves consideration of specific family dynamics. For example, maybe one heir to an estate handles money matters particularly well, while another certainly doesn't -- or at least not yet. To protect estate assets, you can account for family dynamics with a number of estate planning items, including your will and, if you choose, a trust.
Why it's so important for blended families to consider estate planning
Over the last several decades, the definition of the traditional family has undergone something of a transformation. To illustrate, consider how our views of the typical family have evolved from beyond the traditional nuclear family -- a once-married couple and their dependent children -- to include everything from single parents to so-called blended families.
Things you should know about Ontario's estate administration tax
If someone you know and love has died, then you may be faced with the daunting task of handling matters of your loved one's estate, including the payment of debts and the distribution of assets. Depending on the kinds of assets involved, you may need to file for a Certificate of Appointment of Estate Trustee. We've discussed this filing process in one our previous posts.
