As the cliché goes, the only certainties in life are death and taxes. When the former occurs, the Personal Representative(s) (formerly known as the Executor(s)) of the Estate must address the latter. Taxes become more complex in the year of death, and the period of Estate administration. This … [Read more...]
Inheritance Issues in Bankruptcy
When someone files for bankruptcy, they surrender all non-exempt assets to the licensed insolvency trustee for the benefit of their creditors. This includes not only assets they have at the time they file for bankruptcy, but also comprises of any assets that “devolve” on the bankrupt prior to … [Read more...]
People Always Told Me, Be Careful What You Do: Wills and Dependency Legislation
It is the kind of tragic story that makes for best-selling novels and Hollywood blockbusters. A young woman, raised in a loving home by two hard-working parents, battles a severe and debilitating disease. Left penniless and alone when her parents pass, she struggles to make ends meet as her body … [Read more...]
Round Two: Blended Families and Estate Planning
One of the main goals that people have when they are estate planning is making sure their family members are taken care of when they are gone. This can be more complicated when you have a blended family, where there can be all kinds of additional considerations. How do you balance supporting a … [Read more...]
Setting Up Wills and Trusts
Not all families are the same. That is why not all wills should be the same. The law provides us with tremendous flexibility in deciding how to leave our estates to our loved ones. In order to understand some of the choices you should consider, it is essential to understand the difference between … [Read more...]
“Have You Heard the One About The Canadian Who Died Without a Will?”
It is hard to overstate the advantages of having a good will. So, why don't more of us embrace "will power," even when we know story after story of families, business partners, and advisors having to clean up the mess when a person dies "intestate" (without a will)? In a lighthearted twist on a … [Read more...]
Mental Capacity Has Different Meanings in Different Contexts
President Donald Trump consistently makes the news, though more often it seems for comments an elected leader with sounder judgment would not be making. Furthermore, among the many outrageous statements that have left people scratching their heads, there have also been moments caught on camera … [Read more...]
