Scotiatrust

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For over 100 years, Scotiatrust® has helped Canadians preserve and transfer their wealth. Together with your team of specialists, we work to understand your achievements and help you connect them, so your wealth makes the meaningful impact you want. We also help you make important decisions sooner and ensure they’re followed when you’re unable to do so yourself. We are a team of highly experienced, hands-on professionals and we view it as our responsibility to ensure our clients have addressed all relevant issues and that their wishes are followed throughout and beyond their lifetime, helping them to live well and leave well.

Collections as Estate Assets

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For some, collecting is a way of life.  Unique legal and practical issues arise for an executor when an estate includes a collection.  In this article, I explore some of those issues when dealing with collections of fine wine, cultural artifacts, and firearms.   Wine During COVID, the Ontario government made changes to liquor laws that could affect an executor’s role when dealing with a fine wine collection as an….

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The Gift of Peace of Mind: Estate Planning during the Holiday Season

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  As the holiday season approaches, our thoughts naturally turn to gift-giving, festive gatherings, and the joy of spending time with loved ones. Amidst the holiday cheer, it is important to recognize the profound gift of peace of mind that comes with a well-considered estate and trust plan.  While estate planning may feel like a weighty or taboo subject, the holidays offer an opportune moment to broach the subject and….

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Uncategorized, Wills

Modernizing Ontario Wills: a case update

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In Ontario, Bill 245, a large omnibus Bill, the Accelerating Access to Justice Act 2021 (AAJA) received Royal assent on April 19, 2021. It made amendments to many Ontario statutes. Schedule 9 of this Act made significant changes to the Succession Law Reform Act, R. S.O. 1990, c.S. 26 (SLRA) which had been largely unchanged since it was enacted over 40 years ago. Many of these amendments bring Ontario in….

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Courts, Wills

Does your Will reflect your wealth transfer wishes?

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A sepia-toned scene photographed from above shows a magnifying glass, some photographs, a camera and lens, and an open notebook with a pencil laid across it. A pair of glasses lie in front of the notebook.

Today’s post was written by Diana Leopardi – Estate and Trust Consultant at Scotiatrust. What can be worse than having a Will that does not reflect your wealth transfer wishes…that is, not having a Will at all! Suppose you have a Will in place, it is prudent to ensure that your Will properly reflects your wealth transfer wishes. As a best practise we encourage our clients to review their Wills….

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Estate Planning, Separation, Wills

Identifying Dependants

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This post is written by Alicia Mossington, Estate and Trust Consultant with Scotiatrust. Individuals have considerable testamentary freedom in Ontario (and other provinces). The ability to distribute an estate how you choose, is a common law principle that is deeply entrenched. In Ontario, and most provinces, the court has limited ability to interfere with a testator’s private testamentary dispositions. As the Court of Appeal in Spence stated, “no one is….

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Dependant Support, Elder Care, Estate Planning

Chain of Executorship

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THIS BLOG WAS WRITTEN BY ANTHONY PRANATA, ESTATE & TRUST CONSULTANT, SCOTIA WEALTH MANAGEMENT   What is harder than being the executor of an estate? Being the executor of two estates simultaneously. If you are thinking there is no way this would happen to you as long as you are only appointed in one Will, think again. By accepting one executor appointment, you may become responsible for the estates of….

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