1.What is a Power of Attorney? A Power of Attorney is a legal document that gives someone else the right to make decisions on your behalf. 2. Are there different kinds of Power of Attorney? Yes. In Ontario there are three kinds of Power of Attorney: A Continuing Power of Attorney for Property (CPOA) covers […]
You likely have loyalty-based reward points of some kind, such as Air Miles or Aeroplan. You might be surprised that the reward points you accumulate may not be transferable by you to your beneficiaries. It depends on the contractual terms and conditions of your program, which you likely have never read or considered. You should
Your usernames and passwords for your online accounts should be an important part of your Estate plan. You should include them in your Will, or in a memorandum to your Trustee for your estate. You should keep these updated regularly. Currently the law in Ontario and Canada does not properly address digital assets on death.
USERNAMES AND PASSWORDS – A KEY PART OF YOUR ESTATE PLAN Read More »
Everybody should have an estate plan namely, a Will and powers of attorney, at least. What happens to your existing plan if you marry or separate/divorce? If you marry, you will (perhaps unwittingly) revoke your Will automatically in Ontario, unless your existing Will specifically says that you made it in contemplation of marriage. Therefore, if you
Its estimated that more than half of Canadians do not have a will. This applies to many lawyers, too. Why? Well, many just dont like to think about it. Or – I cant find time to get around to it I cant afford it right now I dont really need one Whatever the reason, your
GET 'R' DONE – NOVEMBER IS NATIONAL 'MAKE A WILL' MONTH Read More »
Generally, you can designate a beneficiary for your RRSPs. If you do, generally the RRSP will be paid to your designated beneficiary on your passing. The RRSP will not form part of your Estate and, therefore, not be subject to Ontarios estate administration tax. However, the problem: the federal Income Tax Act provides that, even
There are many benefits to having a Will, too many to identify in a short blog. Here are a few of what I consider the important reasons to have a Will. With no Will: – your Estate may be given to family members you do not wish to benefit (under Ontarios Succession Law Reform Act)
WHY DO I NEED A WILL – IS IT REALLY NECESSARY? YES – A FEW REASONS……… Read More »
You can specify testamentary custody for your child in your last will and testament in Ontario. Under Ontario’s Childrens Law Reform Act (CLRA), if you have custody of a child, you can specify in your Will who you wish to have custody if you pass away, but only for a ninety-day period after your passing.
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