Automatic revocation of wills not all bad for newly married spouses

The provincial government should think twice before ending the automatic revocation of wills on marriage.The Law Times reports that Attorney General Doug Downey is considering scrapping s. 16 of the Succession Law Reform Act, a provision that makes Ontario one of only a few jurisdictions in which marriage automatically revokes any will that either spouse [...]

By |2020-10-22T21:44:05+00:00October 22nd, 2020|

Money drives people crazy, but a will can take the edge off

In estates law, there is still not doubt why people say, “money is the root of all evil.”I’ve noticed that you never have to wait too long after the death of a celebrity to hear about the unseemly fight that has begun among their heirs.Household names as varied as John Lennon, Martin Luther King, James [...]

By |2020-10-15T22:56:07+00:00October 15th, 2020|

Henson Trusts help testators support beneficiaries with disabilities

Testators who wish to support loved ones with disabilities after they’re gone should consider a Henson Trust. Income from this special type of testamentary trust – originally devised for the protection of bequests made to children with special needs – is exempt from the strict $40,000 asset limit for recipients of benefits Ontario Disability Support [...]

By |2020-09-03T21:07:47+00:00September 3rd, 2020|

When can I challenge a will?

Will challenges are not as easy as they look. U.K. news outlet The Independent reported on a study by a life insurance provider that found one in every five Britons, or more than 12 million people, would challenge a family member’s will if they were unhappy with their inheritance. The company’s analysis of local [...]

By |2020-08-13T21:07:38+00:00August 13th, 2020|

Appointing multiple trustees can add up to trouble

One estate trustee is quite enough for testators drafting a will. I’ve written before about the importance of picking the right person to administer your estate, and this is one area where there is no strength in numbers. Considering what a tough job the estate trustee has, I can understand why an individual may be [...]

By |2020-07-30T06:16:19+00:00July 30th, 2020|

Don’t leave your will to the last minute

There is no such thing as a last-minute deal when it comes to making a will. In fact, the only bonus an estate planning latecomer can expect is an extra dose of heartache and hassle for themselves and their loved ones. More than half of Canadians are reported to have no will at all [...]

By |2020-07-23T19:37:42+00:00July 23rd, 2020|

Don’t forget your digital assets when drafting a will

Much of our lives are lived online these days, but people still forget their digital assets when it comes to estate planning. A BMO Wealth Institute survey on the subject found members of the Baby Boomer generation generally recognized the importance of digital assets and access to them after death. Yet even among this [...]

By |2020-07-09T16:48:52+00:00July 9th, 2020|

DIY spells disaster when it comes to wills

Do-it-yourself wills almost always end up costing more in the long run than they save in the moment.CTV News recently reported on a surge of interest in estate planning as a result of the COVID-19 crisis, which has given us all a sobering reminder about our own mortality.And while that development is welcome – getting [...]

By |2020-06-08T16:55:01+00:00June 8th, 2020|

Get a will to reduce your family’s stress

Having a will in place gives your surviving relatives some much needed certainty during a period of emotional and financial volatility. The Canadian Press recently reported that more than half of Canadians do not have a will. Should the worst happen to them, those people could be leaving their loved ones in a very [...]

By |2020-04-28T21:27:10+00:00April 28th, 2020|

No better time than the present to make a will

Whether you’re old or young, rich or poor, now is the time to make a will.That’s truer than ever in light of the current pandemic we are all facing, and according to this Canadian Press story reporting on a spike in interest in estate planning, many people have been spurred into action as a result.While [...]

By |2020-04-30T17:53:43+00:00April 22nd, 2020|
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