Wills, Trusts, Power of Attorney & Estate Planning Blog Posts and Articles

Many people use remainder trusts (CRTs) as a way to plan their estate enabling them to give to charity while also receiving income throughout their lifetime. Despite its popularity there are often misunderstandings surrounding CRTs that may perplex those considering making a contribution.

When an individual, in Ontario decides to assign a Power of Attorney, for Property they are entrusting someone to manage their matters. This position carries obligations. Is regulated by Ontarios Substitute Decisions Act of 1992.

A Power of Attorney for Personal Care is a legal document in Ontario, Canada, that gives someone the authority to make healthcare decisions for another person. The grantor, the person who creates the document, can change or cancel it at any time while mentally capable. Regular reviews and updates help ensure the document reflects current wishes and circumstances.

In Ontario, selecting the right trust for your estate planning needs requires comparing the Hanson Trust, also known as the Henson Trust, with other trust options. Henson Trusts protect disabled beneficiaries' government benefits while providing long-term financial support. Understanding the distinctions between Henson Trusts and other trusts, such as living trusts, testamentary trusts, and family trusts, is essential to ensure alignment with your objectives and beneficiary protection.

Living trusts in Ontario require specific forms to ensure validity and intended operation. These forms outline the trust's terms, including the trustee, assets, and beneficiaries. While online forms provide a starting point, it's crucial to engage with legal professionals to customize the forms and avoid potential legal challenges.

When someone passes away without leaving a will, Ontario's Succession Law Reform Act governs the distribution of their assets. The role of an "administrator," also known as an estate trustee, becomes essential in managing the estate.

For Ontario residents, preparing for the unexpected involves creating a comprehensive estate plan. This checklist highlights key considerations to ensure that assets are distributed as per your wishes, proper legal documents are in place, and your loved ones are taken care of. Regularly reviewing and updating this plan is essential to keep it aligned with life changes.

Estate planning for business owners in Ontario involves managing personal assets and the future of the business. Succession planning is crucial to ensure a smooth transition upon the owner's death or incapacity.

Writing a will is a vital step in managing your estate and ensuring your final wishes are fulfilled. In Ontario, it's essential to follow specific legal guidelines for a will to be valid. This guide explores the detailed steps involved in writing a will in Ontario, covering aspects like determining assets, choosing beneficiaries, appointing an executor, drafting and signing the will, storing it securely, and the importance of regular reviews and updates.