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Estate Administration Archives

Is gifting your house a good way to avoid probate?

Parents who intend for a child to take over the family home when they pass away are often concerned about the probate costs of such a transition. Some Ontario families consider cutting estate administration and probate costs out of the equation by gifting the home to adult children or adding them to the house deed.

It's wise for young people to create an estate plan too

Writing a will is something often attributed to aging individuals who have accumulated a wide range of assets. However, younger individuals in Ontario should not overlook the value estate planning might have in their lives. Young adults may find that planning opens up important conversations, secures the future of loved ones and prevents litigation if they do happen to pass away unexpectedly.

How to manage an unwanted timeshare in estate administration

We often hear family members arguing over who inherits certain property after someone passes away. But what about disputes regarding unwanted property? For timeshare owners in Ontario and their families, this can be a real point of contention. Here are some things worth knowing when going through estate administration with a timeshare in the mix.

Qualities to look for when hiring an estate administration lawyer

Choosing representation is a challenge in any legal situation. When hiring someone to support estate administration and probate in Ontario, one has to be careful to select someone with the knowledge, temperament and integrity to do a good job. Here are some things to look out for when deciding whether a lawyer is a good fit for the sensitive work of helping to execute and probate a will.

Even at a young age, certain plans can help estate administration

There are many misconceptions about estate planning, especially amongst younger people or those with less assets. One such misconception is that a will is the only document needed to complete a plan for what happens after one passes. Another is that estate planning is an activity for older adults. In fact, there are multiple documents involved in an Ontario estate plan, and considering certain decisions even at a young age can help ease estate administration should someone pass away suddenly.

Staying organized and professional can ease estate administration

Those who are named as executors can find themselves swimming in fairly complicated waters. Some people taking on the challenge of estate administration are in the enviable position of being the sole beneficiary and having no family conflicts. However, for the majority of Ontario executors, maintaining professionalism and doing everything by the book is important in order to avoid legal challenges from other beneficiaries.

Experts more trusted for estate administration, poll shows

Online tools are increasingly popular for those looking to tackle some of life's most tedious or even complicated tasks. But are people in Ontario and throughout Canada ready to hand over their important financial and legal matters, such as major investments and estate administration, to online services? According to a recent poll, trusted experts are still preferred when it comes to important decisions.

Potential estate administration challenges with family farms

Valuable real estate is bound to be a challenge when it comes to writing a will, especially if there are multiple beneficiaries. But this challenge can deepen if the land is a working farm, especially if the intention is to keep the farm in business rather than sell it. Without proper planning, communication and documentation, the Ontario farmers' dreams of a multi-generational business can turn into an estate administration nightmare for their families.

Managing estate administration with sentimental items

When it comes to distributing assets and fulfilling final wishes upon death, high-valued items are often at risk of becoming most contentious. But, it is important for Ontario executors to consider that value can extend beyond the financial and also include emotional impact. Sentimental items, even those with lesser value in the marketplace, can be a significant cause of issues in estate administration. Here are some tips for executors who may be handling these touchy situations.