I can’t put it better than this. Enjoy!
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Estate Administration
How to inherit an estate
Most of us, at some point in our lives, will lose a loved one who will have left us something in their will. If what you inherit is significant in value, you should keep a few points in mind. Take your time. You need to give yourself time to grieve, and then time to...
What happens if there is an error on the will?
I recently helped a client get probate for her mother’s estate. The will had been done years earlier, and unknown to everyone involved, the pages were accidentally misnumbered to be missing one number – so while there were no pages missing, it appeared that page 5 was...
Do you have a right to see the will?
Only if you’re named in it. If you think you might be a beneficiary, it can be helpful to have your own lawyer contact the executor to see if they would be willing to share the will with you, but ultimately, if you are not named in it, you have no legal right to see...
Just in time for taxes: do you need a clearance certificate?
First, what is a clearance certificate? If you are acting as the executor of an estate, you will be required to file a tax return for the year of death. Once you have that back from CRA, you can apply for a clearance certificate, which gives CRA a final chance to...
Plan for conflict, and hope it doesn’t happen
A recent TD Wealth survey found that 44% of planning professionals believe that family conflict is the biggest threat to estate planning today. And I think that’s absolutely correct. In my personal experience, the estates that have the most difficulty are the ones...
Don’t Forget Your Furry Family Members
Many of us consider our pets to be members of our family. Some have taken this idea even further, actually left their entire fortune to their pets on their death. An example of this is Karlotta Leibenstein. Ms. Leibenstein was a German countess and multi-millionaire...
Can I get a witness?
When preparing your own will, it is easy to overlook some legal formalities that could cost you (or others) much more than you think. One of these is having proper witnesses for your will. It is a requirement to have two witnesses to witness your signature on a will....
Anthony Bourdain: No reservations, and no updated planning
Anthony Bourdain tragically died by suicide recently. Also tragic: he did not update his estate plan after his separation, which means that his estranged wife will be managing his estate. Perhaps this is what he wanted, trusting that she would manage things...
An executor’s checklist
You’ve been chosen as an executor. Now what? When you act as an executor of a will, there is a lot to do. From arranging for the burial and funeral, to applying for probate if necessary, to paying taxes, to managing assets, being an executor is a proper job. If you...