March 21, 2019

Archives for December 2017

Specific Gifts in a Will

G+G Estate Gift1IT IS IMPORTANT TO ENSURE YOU HAVE A GIFT CLAUSE IN YOUR WILL

If your Will leaves specific items to someone, you should ensure a gift clause says what is to happen if that person should predecease you. If you do not, there are some complicated rules within the area of Estate Law, that determine which heirs of the person the gift was intended for will receive the gift. [Read more…]

CPP Survivor’s Pension

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ESTATE ADMINISTRATION – CPP SURVIVOR’S PENSION

If your spouse contributed to CPP, you may be eligible to receive a CPP survivor’s pension. To qualify you must be the legal or common law spouse of the deceased.

The amount of the pension can be a bit confusing to determine. The following link to the Service Canada Website will help you figure it out.

http://www.servicecanada.gc.ca/eng/isp/cpp/survivor.shtml

[Read more…]

How Can I Pay Probate Tax?

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HOW CAN I PAY PROBATE TAX?

When a probate application is filed with the Superior Court in Ontario, Estate Administration Tax (Probate Tax) has to be paid on the value of the estate. Often there are no funds available to pay the Probate Tax as the deceased person’s money is in bank accounts that have been frozen because of the death. [Read more…]

Non-continuing Power of Attorney for Property

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NON-CONTINUING POWER OF ATTORNEY FOR PROPERTY

If your Power of Attorney does not specifically indicate that it is a Continuing Power of Attorney for Property or say that it allows the people you name to continue to act for you in the event of mental incapacity, the Power of Attorney will be valid only so long as you are mentally capable.

CONTACT US

Feel free to contact us at any point for assistance or advice with respect to Estate Law, Estate Planning, Estate Administration or Estate Litigation. We may be reached at 705.435.4339 or contact us via email.

What to do with the deceased’s cards?

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ESTATE ADMINISTRATION – WHAT TO DO WITH ALL OF THE DECEASED’S CARDS?

There are different requirements and recommendations relating to the various cards when someone dies – credit cards, health card, Social Insurance Card, etc. – once those cards are no longer needed.

To reduce the risk of identity theft (it does still occur after a person has died), cards should be physically destroyed. The Executor / Estate Trustee should also ensure the cards are returned to the issuer, so identity theft does not result in liability to the estate. Some issuers have forms that need to be submitted with the pieces of the card, although most do not. [Read more…]

Holograph Will – Write your own Will

WRITING YOUR OWN WILL IS REFERRED TO AS A HOLOGRAPH WILL

Contrary to popular belief, an Ontario Will may be valid even if there are no witnesses to the Will.

If a Will is made entirely in the handwriting of the testator (person making the Will) and signed by that person, no witnesses are required to sign the Will. Such a Will is called a Holograph Will. [Read more…]

How Can I Pay Funeral Expenses?

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HOW CAN I PAY FUNERAL EXPENSES?

When a person dies, unless they have prepaid for their funeral, this expense will have to be paid by the Estate Trustee or Executor. Often there are no funds available to pay the funeral expenses as the deceased person’s money is in bank accounts that have been frozen because of the death.

Banks are permitted to release funds to pay funeral expenses and most Canadian Banks will readily provide the necessary funds for funeral expenses. If the bank will not, you may have to bring a ‘Motion’ to the Court to defer the payment of the funeral expenses until the Probate Document (called a ‘Certificate of Appointment of Estate Trustee’) has been issued by the court.

CONTACT US

Feel free to contact us at any point for assistance or advice with respect to Estate Law, Estate Planning, Estate Administration or Estate Litigation. We may be reached at 705.435.4339 or contact us via email.