Yes, it is beneficial to have a will in each jurisdiction that you hold assets in. This is because different jurisdictions have different laws and regulations in regards to how assets are distributed in the event of death. Having a will in each jurisdiction ensures that your assets are distributed [...]
1.Your estate distribution will be in accordance with the law. If you are legally married to your spouse they are entitled to receive the first $200,000.00 and a portion thereafter depending on how many children you have. If you have no children your spouse will inherit your entire estate. Your personal [...]
WRITTEN BY: KELSEY ROLFE FOR THE GLOBE AND MAIL A growing number of single people and couples are choosing not to have children for myriad reasons – a decision that advisors say have implications for their long-term financial and estate plans. A Pew Research Center survey from November [...]
Estate planning is a process by which individuals and families plan for the transfer of their assets and affairs upon death or incapacity. This process involves creating a comprehensive plan that will ensure that the individual's wishes are respected, that taxes and other expenses are minimized, and that the assets [...]
Some decisions can lead to terrible family rifts that never mend Written by: Ted Rechtshaffen Family feuds get ratings. Just look at Prince Harry and Meghan Markle. But we’re more interested in promoting peace and harmony within families, especially when it comes to estate planning. This can often be [...]
Four changes to Ontario’s estate planning laws advisors and their clients need to consider. Written by: KIMBERLY WHALEY AND BRYAN GILMARTIN SPECIAL TO THE GLOBE AND MAIL PUBLISHED FEBRUARY 9, 2022 Several important legal changes came into effect in 2022 for estate planning in Ontario that have an impact on how [...]
Follow some of these easy steps to start your estate planning today: Gather your financial information: Gather all of your financial information, including bank accounts, investments, and property. Choose your beneficiaries: Decide who you want to receive your assets after you pass away. Select an executor: Choose someone you trust [...]
A Will is an important legal document that allows a person to determine what happens to their assets and possessions once they pass away. It allows a person to designate who will receive their property and other assets, as well as who will be responsible for administering their estate and [...]
1.Understand the different types of estate planning documents: Having an understanding of the different types of estate planning documents, such as wills, trusts, powers of attorney, and advance healthcare directives, is essential. Knowing which documents are necessary and what they do will help you make informed decisions when it [...]
An estate is a legal concept used to refer to the total property owned by an individual at the time of their death. Depending on the jurisdiction, an estate may include the real estate, personal property, financial assets, and debts and other liabilities. Estates are generally managed and distributed by [...]