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Posts tagged "trust"

Trust options for parents of children with disabilities

The Ontario Disability Support Program (ODSP) can be a great help to parents of children with disabilities. However, payments from the program end when your child reaches age 65. Additionally, your child's receiving an inheritance can result in the loss of ODSP benefits.

Don't let an ambiguous estate plan cause conflict among beneficiaries

The question of how to cover estate taxes is a common dilemma in estate planning. With that in mind, one thing you may want to avoid is saddling one of your beneficiaries with the tax bill while essentially allowing another beneficiary to avoid estate taxes altogether. This situation could produce heart-rending conflict among your beneficiaries.

Using trusts to meet the needs of blended families

After a divorce or other major life event, updating your estate plan is essential. That means updating your will along with any other plan that names a beneficiary. Such plans include work pensions, RRSPs and insurance policies.

Tips for safeguarding an inheritance

Family dynamics often have a bearing on how smoothly wealth passes from one generation to the next. At Hagel Lawfirm, we have seen how differences among family members can have a negative impact on the value of an estate, and we work with our clients to help them avoid such an outcome.

Some estate planning options for parents of children with disabilities

When planning their estates, parents of children with disabilities face unique challenges. In many cases, after a child with a disability becomes an adult, the parents must continue to make financial and personal care decisions on behalf of the child.

Is a common law spouse in Ontario entitled to an inheritance upon the death of a partner?

In Canada, many of the benefits that are afforded to legally married spouses are also afforded to common law spouses under pieces of legislation such as the Pensions Benefits Act, the Canada Pension Plan, the Insurance Act and the Income Tax Act.

Develop a customized estate plan to meet your family's specific needs

Canadian families are perhaps more diverse now than ever before. An aging boomer population, second or third marriages, non-traditional households, loved ones with special needs -- these are all important realities to consider in estate planning.