Handwritten Wills: A Convenient Choice or a Legal Nightmare?
As an individual in Ontario considering creating a Will, you must be aware of the specific legal requirements for a Will to be considered valid in Ontario. Notably, a Will is a legal document in effect after your passing that outlines your final wishes regarding the distribution of your Estate. It has no effect before […]
Putting Your Trust in the Right Person: Tips for Choosing an Executor in Ontario
One of the most common questions during our initial client meetings. Choosing an executor (also known as a “personal representative” or “estate trustee”) is an important decision when creating your estate plan in Ontario. Here are some factors to consider when choosing your executor: Trustworthiness: Your executor will have significant responsibilities, including managing your assets, […]
Is only a spouse able to claim as a dependant? Did a recent decision expand it to children?
The short answer is “no” – it is not new law. However, it is very fact specific. I talk about this when I teach estate planning: Beware who may be able to claim dependant relief due to your actions. What you do during your lifetime has an impact when you pass. You may only want […]
Charitable giving in your Will
We all give to charity in some way, whether it’s with our money or with our time. But putting a gift to charity in a Will can be hard because you will ask yourself: “Am I going to leave my loved ones nothing?” When you die, your estate will probably get a big tax bill. […]