“It comes down to if you’re not going to carefully consider who you owe financial consideration to upon death, then the court is going to do it for you.” says Ian Hull in commenting on the impact of the court’s recent decision in Stevens vs. Fischer
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ERAssure®, Canada’s only provider of executor liability insurance provides FREE Inheritance Planning Guides and Executor Guides to help in the process of both estate planning and estate administration.
In this article, Moira Visoiu of Hull and Hull LLP discusses how complicated the task of distributing personal property between estate beneficiaries can be, and how this duty can expose the estate executor to personal financial risk.
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ERAssure®, Canada’s only provider of executor liability insurance provides FREE Inheritance Planning Guides and Executor Guides to help in the process of both estate planning and estate administration.
In this Huffington Post blog Ian and Suzana Popovic-Montag outline the importance of keeping your will current with your life to avoid estate disputes.
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ERAssure®, Canada’s only provider of executor liability insurance provides FREE Inheritance Planning Guides and Executor Guides to help in the process of both estate planning and estate administration.
Even carefully drawn wills can become the subject of disputes and litigation. Having a poorly drafted will, or no will at all, increases those odds exponentially. Despite this, over 50 per cent of Canadians do not have their testamentary wishes written down in the form of a will.
The reasons for this vary depending on individuals but we often come across a similar set of excuses. For instance, young Canadians often feel that they have not amassed significant enough assets to warrant an estate plan. Some people also have will drafting very low on their priority list and the refrain of being too busy and not having enough time and/or resources is all too common. (more…)
Tagged Canadians Will, Canadians Writing a Will, ERAssure, Estate Debate, Estate Planning And Wills, executor insurance, executor liability, How To Write a Will, Ian Hull, Law, lawyers, Leaving a Will, Planning Your Will, Toronto, When To Write a Will, Who Should Write a Will, Wills And Trusts, writing your will, www.erassure.com
Parents may play favourites with their children while they’re living, but does the law allow them to do so after they die? (more…)
Author: Suzana Popovic-Montag
By preparing a power of attorney for property, one appoints a substitute decision-maker to make decisions on one’s behalf once they become incapable. With the powers bestowed upon the attorney, however, come duties as well. In an age where people are living longer and longer, the appointment of an attorney is becoming more common. Unfortunately, not every attorney is aware of the duties he or she has in fulfilling this role. As a result, I thought I would take this opportunity to review some of the duties imposed upon an attorney for property.
In this Hull and Hull TV edition Ian and Suzana Popovic-Montag discuss what happens when the family estate is divided differently amongst family members and how to plan for this eventuality.
When left with the role of administering an estate, who is responsible for paying the estate’s taxes?<!–more–>
Lynne Butler of <a href=”http://www.estatelawcanada.blogspot.ca” target=”_blank”><strong>Estate Law Canada</stro
ng> </a>addresses this issue in a blog posting related to the challenging tax responsibilities of the <a href=”http://www.erassure.com” target=”_blank”>executor</a>. When an estate consists of RRIFs, RRSPs, life insurance policies and pensions which are paid directly to a beneficiary, there can be significant tax implications for the estate upon their transfer after death. Even if an estate never sees the money that is paid out to the beneficiaries, explains Butler, it may still be responsible for paying taxes on the asset. But, what happens if the estate is bankrupt? Is the executor liable to pay these taxes personally? Butler goes on to answer this question.
Full story at <strong><a href=”http://www.estatelawcanada.blogspot.ca/2011/08/does-executor-have-to-pay-estate-taxes.html” target=”_blank”>Estate Law Canada</a></strong>.
Sibling rivalries and competition amongst children in split family situations can give rise to family feuds that can last well beyond childhood. (more…)
Are parents forced to pass along their wealth to their heirs, or can they opt to disinherit their children? (more…)
