Appointing a non-resident as your executor? Here is what you need to know about administrative bonds.

will lawyer estate ottawaActing as an executor (estate trustee) can be a daunting and challenging task in the best of times. The requirement for an administrative or estate bond can add another layer of complexity to an already complicated situation.
An administrative or estate bond may be required in various situations. For example, an executor (estate trustee) or individual applying for a Certificate of Appointment of Estate Trustee (probate) may be required to post a bond where, for example, the deceased did not leave a Will, the executor named in the Will is not a resident of Ontario or the individual applying to the Court was not named in the Will as an executor.

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gift cottage estate planning

Thinking of buying a cottage during COVID-19? This blog is for you!

gift cottage estate planningThe COVID-19 pandemic will leave significant damage to many sectors of the Canadian economy in its wake. One sector that appears to be not only escaping this damage but thriving during the pandemic, however, is the cottage real estate market. Cottage sales have actually surged in recent months. Many speculate that this has much to do with the COVID-19 pandemic itself. An increased number of people are now able, and sometimes encouraged, to work remotely which makes extended stays at the cottage that much easier. Also, lengthy periods of quarantine in urban centres have sparked a desire in many for an increased connection with more rural landscapes.
We have blogged on issues relating to cottage ownership several times in the past and thought it would be helpful to those considering the purchase of a cottage during COVID-19 to have the links to many of these blogs in one place.

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estate ottawa real estate

Planning for your Vacation Home Away from Home

estate ottawa real estateAs we are well into the coldest month in Canada, many Canadians seek refuge in warmer climates. For many, a brief escape from the cold and snow is enough. Others might be considering more long-term options. This may include whether to acquire ownership rights over a favorite vacation property.
If you are entertaining such a purchase, careful estate planning is important.

Beware of hidden legal nuances

It is important to be aware of the fact that, on death, real property is dealt with pursuant to the laws of the jurisdiction in which the property is located. What if your dream holiday home is located in a jurisdiction whose statutes dictate the so called “forced heirship rules”?

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probate lawyer stittsville

Changes to Ontario’s Probate Fees

probate lawyer stittsvilleOntario has some of the highest probate fees in Canada. A small reduction was announced in last year’s budget and took effect on January 1, 2020.

What is probate?

Where a person dies leaving a Will, the Executor (now called an ‘Estate Trustee’) obtains their authority to act on behalf of the deceased from the Will. Depending upon the assets owned by the deceased, it is sometimes necessary to ‘probate’ the Will.

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stittsville lawyer estate will

5 Steps to Make Things Easier for Your Executor

stittsville lawyer estate willWe’ve heard it said that acting as an executor is one of the hardest jobs that you never applied for. It is also one for which most don’t receive any training.
If you are like most people, you have likely appointed a family member or close friend to act as your executor. This person may have little to no knowledge as to what acting as an executor actually entails. They may be wholly unprepared for the enormity of the role. There are, however, steps that you can take to make the job of acting as your executor a little easier.

Step 1: Let your executor know where your original Will and other important documents are stored.

Your executor derives their authority to act from your Will and will need to have access to your original Will upon your death. Be sure to advise him or her as to where your original last Will is stored. This might be at your lawyer’s office, home safe, or safe deposit box. Access to a safe deposit box can be restricted upon your death so be sure to discuss this with your bank. Also leave instructions for your executor as to the location of all personal papers including passports, birth certificates, marriage certificates, etc.

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real estate lawyer ottawa stitttsville

Substitute Decision-Making for Property

real estate lawyer ottawa stitttsvilleIn a blog posted last week, we explored the different types of substitute decision-makers that can be appointed with respect to personal care. In this blog, we will turn our attention to substitute decision-makers with respect to property.

I’m not sure if my dad has the capacity to sign a Power of Attorney for Property?

In a Power of Attorney for Property, the ‘grantor’ (the person signing the document) appoints one or more persons to make decisions on their behalf with respect to their property. In order to have the required mental capacity to sign a Power of Attorney for Property, among other things, the grantor must know what kind of property they have and its approximate value as well as appreciate the authority that they are giving to the Attorney.

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estate planning lawyer

Charitable Giving in Your Estate Plan

“CHRISTMAS IS THE SPIRIT OF GIVING WITHOUT A THOUGHT OF GETTING. IT IS HAPPINESS BECAUSE WE SEE JOY IN PEOPLE. IT IS FORGETTING SELF AND FINDING TIME FOR OTHERS. IT IS DISCARDING THE MEANINGLESS AND STRESSING THE TRUE VALUES.”
– THOMAS S. MONSON

estate planning lawyer No other time of year personifies the spirit of giving more than Christmas. We thought it was the perfect time to share a little bit about how charitable giving can impact your estate plan.
Most are aware that a charitable gift on death has a beneficial impact upon an estate. To understand how this benefit arises, we must first look at what tax liability arises at death.

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