Tag Archives: executor insurance

Google Develops ‘Digital Will’

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Executors April 24, 2013 | Leave a comment

Google has a way to ensure your data dies when you do.

The international tech giant, best known for its much-used search engine, has launched an Inactivity Account Manager, a “digital will” of sorts that allows users to determine what to do with their online “digital assets” once it’s no longer needed.

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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.

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The Obituary of Harry Weathersby Stamps

This past week, the obituary for Harry Weathersby Stamps went viral. It didn’t go viral because of Harry’s celebrity status or because of any greatness he achieved during his lifetime, but because of the honest, caring, and loving words that was so thoughtfully written as his life was summarized.
This touched many people who have shared it with their online community,  in an effort to inspire others.
We encourage our readers to take the time to prepare a Will and Estate Plan in such a clear and thoughtful manner. Give care and attention to protect your loved ones, as the author of this obituary has done for.

Harry Weathersby Stamps
December 19, 1932 — March 9, 2013
Long Beach
Harry Weathersby Stamps, ladies’ man, foodie, natty dresser, and accomplished traveler, died on Saturday, March 9, 2013.

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Inheriting Wealth is Harder Than You Think

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Beneficiaries March 18, 2013 | Leave a comment

“Contrary to popular belief, inheriting money isn’t easy. Many times, inheritance comes with guilt, unrealistic expectations and other ‘emotional’ baggage,”  says Thane Stenner in this Globe and Mail Article.

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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.

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Helpful Information for Charitable Giving in Canada

Looking for information about how to choose a charity to donate to? The Canada Revenue Agency (CRA) has free online tools that can help. Check these helpful links:

At www.cra.gc.ca/donors , Canadians can learn everything they need to know about giving wisely to registered charities, including which charities are registered with the CRA, what organizations can issue official donation receipts, what types of gifts qualify for tax credits, and how to avoid fraud. (more…)

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The Importance of Leaving a Will

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…)

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Toronto Estate Lawyer Discusses the Merits of Executor Insurance

Posted by:
Insurance March 14, 2013 | Leave a comment

Estate trustees face the risk of legal liability for negligent acts committed during estate administration and may wish to consider an insurance policy. (more…)

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Insurance to Protect Executors During Estate Administration Duties

An insurance policy for executors can protect both the executor from personal liability, as well as the estate assets, which may be liquidated to fund any sort of estate litigation.

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High Net Worth Canadians with U.S. Property and Assets May be Subject to U.S. Estate Taxes

Canadians with a net worth greater than 5.25m and assets held in U.S.  corporations or real estate may be subject to U.S. estate taxes.

Executors have always had a great deal of responsibility, but the job has arguably become more risky as information becomes more readily available.  For more information on the roles and responsibilities of the executor, download our FREE step by step Executor Guide.

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Using Joint Tenancies for Tax and Estate Planning

As a strategy of financial planning, many Canadians opt to place their assets in  ”joint tenancies,” joint names with right of survivorship. (more…)

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Leaving Inheritance More Complicated Than Many Think

By Tracy Sherlock, Vancouver Sun October 19, 2012

It has been estimated that Canadian baby boomers stand to inherit approximately $1 trillion over the next two decades. Despite the sheer magnitude of this expected transfer of wealth, close to half of all Canadians haven’t formally set out their wishes for after they die, and just 56 per cent of Canadians have a will, according to a BMO study.

“It’s really an unfortunate occurrence when someone dies without a will. It’s really unfair for the family members because it’s time, it’s extra cost and it’s an added responsibility for the people you’ve left,” said Sara Plant, vice-president and national director for BMO Harris Private Banking.

The same study found that most people with a will are leaving the lion’s share of their assets to their children, but some will go to other family members, friends and charities. (more…)

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