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April 2016 Archives

Declaring 'Make a Will Week,' minister urges Canadians to plan their estates

A timely article from CBC News relates directly to our recent post on how estate property is distributed in the absence of a will. Specifically, we discussed the Estates Act and the Succession Law Reform Act, and how those legislative acts determine the distribution of estate assets in Ontario when someone dies without a last will and testament.

In the absence of a will, how are estate assets distributed in Ontario?

Creating a will is an essential part of estate planning, and not taking this basic step can prove extremely costly for the estate -- not only in terms of unnecessary loss of assets, but also in terms of heart-rending family conflict. Additionally, when a person dies intestate -- that is, without a will -- provincial laws determine who will be estate executor and how estate assets and debts will be distributed, and this manner of distribution is often not in the best interests of the family.

Don't leave your digital legacy to chance

It is an increasingly relevant issue in modern estate planning: how to distribute (or otherwise deal with) one's digital assets. And by "digital assets" we mean anything from pictures on your Facebook page to online investments and electronic banking.