The differences between estate planning and financial planning
There are some people who need help in managing their financial affairs. In these cases, a financial planner may be sought out. But how does financial planning differ from estate planning in Ontario? They sound the same, but in this case, one thing is not like the other. Primarily, financial planning focuses on things people […]
How do probate fees figure into estate planning?
It has been said that there are two certainties in life: death and taxes. And both these things apply when it comes to estate planning for Ontario residents. Estate administration taxes or probate fees are a fact of life and death. The fee coincides with the total property value of a person’s estate. The more […]
Estate planning: Naming a power of attorney for personal care
If you are lucky, you will live to a ripe, old age. But aging is not always smooth or easy. If you are considering estate planning, naming a power of attorney (POA) for personal care might be a wise choice. This is a legal document that allows you to choose someone to make decisions regarding […]
What happens when someone dies without a will?
When someone dies without having left any written instructions regarding what to do about their assets and debts, it’s known as dying intestate. Ontario residents who die without wills often leave their loved ones in an unenviable position. How will the person’s property be divided, who will administer the estate and what would the loved […]
Becoming the guardian of an elderly parent
Most parents take very good care of their children, seeing to their physical and emotional needs. The shoe could eventually be on the other foot for some Ontario residents who find that a parent is starting to have difficulty thinking clearly and making prudent decisions. This could be due to several factors, some of which […]
What if beneficiaries don’t trust the executor of a will?
People who are writing their estate plans usually choose someone they trust to administer the estate. But what happens when beneficiaries in Ontario don’t trust wills’ executors? Is there anything they can do to safeguard themselves? The short answer is no – not directly anyway. Firstly, the decision of the testator must be respected unless […]
Estate Planning Basics in Canada?
While experts recommend that everyone undertake thorough estate planning, it is especially important for Ontario residents with children, substantial assets or a business. Proper estate planning ensures not only that someone’s wishes will be carried out upon their death, but it also makes life easier for the executor and their heirs. A will sets forth […]