Tag Archives: will

Cottage Succession Planning Can Be Ridden With Conflict

Did you know that cottage inheritance is one of the most emotional and conflict-ridden aspects of estate planning? (more…)

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Choose your Executor Wisely So You Can Rule From the Grave

While executor insurance will protect the executor if they make an honest error, choosing your executor wisely is perhaps the best way to ensure that your legacy lives on as you intended. (more…)

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Have a Financial Plan in Place Before Your Winter Vacation

If you are planning to escape the cold and venture south this winter, packing your swimsuit and airline tickets aren’t the only things you’ll have to remember.   (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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How Not to Write a Will

by Doug Surtees  (Associate Professor of Law; College of Law; University of Saskatchewan)

Blanca Robinson told her lawyer she wanted a new will.  This was in 2005.  Her husband had just died.  He had been institutionalized with Alzheimer’s disease since about 1990.  Blanca told her lawyer that she wanted to divide her estate amongst her two step children, her brother in law, two business friends, two nieces and a sister named Pilar.  The lawyer drafted the will accordingly.  In September 2005, Blanca executed the will, after her lawyer went over each clause with her.  The will contained a standard revocation clause.

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‘Take it to the Grave’? It’s Much Better to Leave It

Today’s technologies allow for instant communication and are changing many of the traditional means of exchange. For example, it is becoming common place for people to videotape their last wishes, in effect, recording their will. Thoughts and wishes are captured as a final memento for loved ones, while helping to make closure a little easier. (more…)

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10 Things to Know About Estate Planning

Are you one of the 75% of Canadians that don’t have a will? If you answered yes are you one of the 50% of Canadians who have a will but it is out of date? (more…)

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Down for the Count

This Canadian Capital article by Ian Harvey  about the  estate of Toronto entrepreneur John Kaptyn personifies one of the  key issues that executors must manage in the administration of an estate – family dynamics. (more…)

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Standard of Care for Trustees When Investing Trust Assets

It’s important to always seek professional advice when planning your estate as there are numerous tools that can be utilized to reduce income tax liability.  A common vehicle often used to defer income tax liability is a trust.  (more…)

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Why are Canadians So Afraid of Wills?

As Rob Carrick of the Globe and Mail writes, “wills are a morbid topic.” (more…)

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