Transferring assets by way of joint tenancy is one of the most popular estate planning tools, given its relative ease and low cost of implementation. Assets which are held jointly are typically subject to a “right of survivorship”, meaning the …Keep reading
One reason parents place assets into a corporate trust structure may be to reduce the amount of tax paid on such assets while preserving a specific estate plan. An alternative reason may be to protect their family assets from potential …Keep reading
In a Will, the executor appointment is one of the most carefully-considered decisions of the will-maker. It is a position of significant trust and responsibility.
But what happens if the intended executorship fails?
Scenario 1: The Deceased Executor Dies with …Keep reading
It is very common for people to prepare an Enduring Power of Attorney instrument (“EPOA”) as part of their estate plan. This allows an adult to designate an “attorney” to make financial and most legal decisions on behalf of the …Keep reading
On June 17, 2016, Bill C-14, An Act to amend the Criminal Code and to make related amendments to other Acts (medical assistance in dying), received Royal Assent. Those interested in or affected by medical assistance in dying (“MAID”) …Keep reading
It is not uncommon for parents to provide monetary gifts to their adult children. Parents may wish to help their child with a down payment on a property, or help pay out their child’s existing mortgage. Parents often consider these …Keep reading
When an individual has not planned for mental incapacity by preparing an enduring power of attorney instrument, representation agreement and/or advance directive, a committee application is typically required.
A committee is a person or institution appointed by the court to …Keep reading
A Will is an important document. It allows a person to set out what they want to happen to their affairs after they die. The Will speaks for a person after that person is no longer alive to speak for …Keep reading