Drafting one will is hard enough for most people. But for some testators, a secondary will may actually be worth the extra effort. For several decades, Ontario testators have been able to divide their property between two wills: one for assets that require probate, and one for assets that don’t.
Making a will is good for your mental health as well as your financial health. I get why so many people push estate planning to the back of their priority lists – going through a process that forces you to contemplate your own death is never going to be easy.
If you think losing your keys is frustrating, spare a thought for the children of an Ontario woman who are still fighting over their mother’s missing will, years after her death. Having gone to the trouble of drafting her will, the woman at the heart of the case probably thought she
An estate’s legal obligations are not the end of the story when it comes to supporting the deceased’s surviving children. As a recent decision demonstrates, Ontario judges can enforce a parent’s moral duty to an adult child after death, even if no legal duty exists. The case has its roots in the
Bank forms fail to eliminate joint account confusion By Lisa Laredo, principal at Laredo Law. Joint bank accounts between parents and their children are often a recipe for estate litigation. When it comes to estate planning, there are good reasons for owning property jointly with a beneficiary, since it can be
For those acting under a power of attorney for property, one duty stands above all others: the fiduciary duty. Attorneys for property are granted extraordinary power under Ontario’s Substitute Decisions Act. In addition to the grantor’s home and its contents, a POA appointee is also handed control of their financial income and outgoings,
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