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,...
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,...
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...
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...
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...
The old adage says that nothing in life is certain except death and taxes. That holds a lot of truth, and what Ontario residents should know is that if they aren’t aware of how taxes can affect their estate planning, their heirs may suffer. It’s important to have some...
There are people who make lists and those who don’t. But when it comes to estate planning, people who have decided to write their estate plans will find that a checklist will come in handy to make sure they have all the documents they need. It’s not good enough to...
If you are lucky, you will live to a ripe, old age. But aging is not always smooth or easy. If you are considering estate planning, naming a power of attorney (POA) for personal care might be a wise choice. This is a legal document that allows you to choose someone to...
Once an estate plan has been written, many people simply file it away and put it out of mind. However, that’s the last thing you should do, since some of these documents need to changed and checked periodically. You'll need to periodically check that the status of...
Challenging a will is not for the faint of heart. Most often, estate planning is done carefully and thoughtfully. However, there may be occasions when litigation may be necessary. Contesting a will can be emotionally draining since the process involves invalidating...
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