Gilmore and Gilmore Professional Corporation
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ESTATE ADMINISTRATION - ESTATE INVESTMENTS
An Estate Trustee (Executor) is required to be careful with estate investments. If the Last Will and Testament of the deceased person gives specific authority to make certain types of investments, an executor can make those investments. Otherwise, an executor should assume that they will be held liable by beneficiaries of an estate (even though they may not actually be liable) for any losses and invest conservatively. [Read more...]
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.
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 Planning, Estate Administration or Estate Law. We may be reached at 705.435.4339 or contact us via email.
POWER OF ATTORNEY FOR PROPERTY WITH ONLY ONE WITNESS
Prior to 1995 the law did not require 2 witnesses to a Power of Attorney for Property. The law was changed in 1995 to require 2 witnesses.
Provided a pre-1995 Power of Attorney for Property otherwise complies with the Rules which existed at the time, it is not invalid because it only has 1 witness.
CONTACT US
Feel free to contact us at any point for assistance or advice with respect to Estate Planning, Estate Administration or Estate Law. We may be reached at 705.435.4339 or contact us via email.
Estate litigation is becoming increasingly popular in Ontario. Estate litigation relates to many different aspects of an estate including:
When you prepare your Will you will need to select one or more executors to administer your estate . People will often select their spouse as their initial executor and their children as their alternate executors.
There may be situations where having a “corporate executor” makes sense for you. A corporate executor consists of executor services provided through a trust company. Many Canadian financial institutions offer corporate executor / estate trustee services. [Read more...]
If you have a closed mortgage and you sell your property (or refinance it) you will be charged a prepayment penalty. The amount of the penalty will be determined by the terms of your mortgage. In Ontario it is common for the prepayment penalty to be the greater of the interest rate differential and three months’ interest. [Read more...]
If the property you are buying is located in the country, it will probably be serviced by a well. A buyer needs to ensure that the water is potable (drinkable). It is common for an Agreement of Purchase and Sale to indicate that the seller will provide a Water Potability Certificate. [Read more...]
DropBox is cloud based storage for your computer. With a DropBox account you can save your office files to DropBox and then access those files from home or anywhere else you might happen to be.
DropBox simply appears in your file explorer window as a drive. You can create subfolders within your DropBox account. [Read more...]
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...]