Gilmore and Gilmore Professional Corporation
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ALL IS NOT LOST WHEN AN ORIGINAL WILL IS LOST
Executors and the beneficiaries of an estate may panic when they discover the deceased’s original Will has been lost or destroyed or they just cannot find it. The courts may allow a copy of a Will to be probated in the place of the original Will in the right circumstances.
You must be able to show:
ASSET IMPACT ON ODSP INCOME
The Ontario Disability Support Program provides eligible people with disabilities with income support to pay for living expenses such as food and housing. Eligibility for this program, as well as the amount of income support you can receive, is directly affected not only by a person’s income, but also the assets they own. [Read more…]
OUTSTANDING CLAIMS AGAINST AN ESTATE
If you are acting as an Estate Trustee, you may have to deal with a person who decides they want to make a claim against the estate for money they believed the deceased person owed them, for any reason. Sometimes a person may only make a suggestion that they will file a claim but have yet to follow through on actual court documents. In any event, an Estate Trustee could be liable if they distribute the estate with the knowledge that the claim is a possibility and that person later files a claim. [Read more…]
RENTAL ITEMS AND A HOUSE PURCHASE
In Ontario, it is not unusual to find rental items in a home that is being sold. Such items may include the hot water tank or an alarm system. It is also common for the new owner of the home to agree to assume the contracts of these rental items when they purchase the house. [Read more…]
WHY YOU NEED A POWER OF ATTORNEY FOR PROPERTY
A Power of Attorney for Property appoints one or more people to act for you (they are called Attorneys, even though they may not be lawyers) in relation to your various assets and liabilities. A Power of Attorney for Property may authorize the attorney to do anything you can do except make a Will. You can restrict the nature of the Power of Attorney, either with respect to its commencement and/or expiry date, or with respect to which of your assets and liabilities the attorney can deal with. [Read more…]
LOGMEIN REMOTE WORK SOLUTION
LogMeIn is a computer application that allows you to remotely control a computer. If you have LogMeIn installed on your office computer, you can remotely access and control that computer from any other computer that also has LogMeIn installed on it. LogMeIn can also be installed on portable devices like an IPad or IPhone (the IPhone screen is a little small however). [Read more…]
CHARITABLE GIVING
Planned or charitable giving is a unique opportunity to “have your cake and eat it too”. A gift to a charitable organization can help you take full advantage of incentives offered by governments as it relates to estate planning and estate taxes while allowing you to provide for charitable organizations that are close to your heart. [Read more…]
HOME OIL TANK REGULATIONS YOU NEED TO KNOW
New requirements for the installation and inspection of fuel oil tanks (above and below ground) were introduced by the Technical Standards and Safety Authority (TSSA) in October 2001 to reduce the number of fuel oil leaks and spills that occur throughout the province each year. In November 2002 the TSSA advised all owners of fuel oil heating systems of the requirements to have their heating systems inspected by qualified oil burner technicians, and the need to register their underground (buried) fuel oil storage tanks with TSSA. [Read more…]
IMPORTANT STEPS AND THE COLLECTION OF PROBATE TAX
On January 1 2013 the amendments to the Ontario Estate Administration Tax (EAT and commonly known as Probate Tax) announced in the 2011 Ontario Budget became effective. There have been several audits since.
Key elements of these amendments that Estate Administrators / Executors need to be aware of are: [Read more…]
ESTATE LITIGATION AND LIMITATION PERIODS
In Ontario, there is a general two-year limitation period in which a person can bring a claim in court on a civil matter. Whether or not this limitation period applies to estate matters can be dependent upon the situation at hand.
The two year limitation period is subject to a concept called ‘discoverability’. This means that the two year limitation period does not start to run until the time that a person knows, or reasonably could have known, that the cause of action occurred. [Read more…]