Jointing family assets to avoid probate: Is it still that simple?

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Douglas Buchmayer, Gowling WLG (Canada) LLP As many of you will be aware, probate is the process by which the Will of a deceased person is submitted to the Court for verification. A tax under the Estate Administration Tax Act of Ontario (formerly known as “probate fees”) of 1.5% is levied on the value of all assets of the deceased dealt with by that Will. Notionally not included in the….

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Estate Planning, Uncategorized

I Want To Disappear: The Power of Grief

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As much as I love writing about the law, it’s important to sometimes take a moment to acknowledge the people that it affects. I’ve noticed that over the past few months I’ve worked with several clients who felt motivated to revisit their estate planning after the death of someone they knew. But, in each case, the death didn’t impact the planning; the deceased wasn’t a beneficiary or trustee of the….

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Grief

If I were administering Taylor Swift’s Estate

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If I were administering Taylor Swift’s estate, I would have to continuously monitor her trademarked lyrics “This sick beat”, “Party like it’s 1989” and “Cause we never go out of style”, amongst others.  Generally, artistic works involve copyright to protect it from being used and sold by others.  But, as song titles and lyrics are not protected by copyright, Taylor Swift turned to trademark law to protect these valuable assets…..

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Estate Administration, Executors, Uncategorized

Case Comment: Huang v. Nie, 2024 ONSC 2398

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As many of our readers may know, estate trustees have a duty to account to the beneficiaries of an estate for the property they administer. Beneficiaries are entitled to be kept informed and can reasonably expect transparency and communication from the estate trustee in this regard. Oftentimes, an estate trustee will deliver accounts to beneficiaries to demonstrate what funds have come into the estate, and what funds have been paid….

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Estate Administration, Estate Litigation, Executors, Family Conflict, Passing Of Trustees’ and Executors’ Accounts, Trustee, Uncategorized

Cross-Border Insurance Planning – Some Basics

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Cross-border insurance planning is tricky but understanding the basics can go a long way in assisting clients. This short article will review some of the key questions to consider in order to avoid potential pitfalls in life insurance planning. Who is the Owner, the Insured and the Beneficiary In the context of personal insurance planning, it is important to appreciate that there are always three (3) parties involved; the owner,….

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Estate Planning, Insurance, International, IRS, Succession Planning, Tax Issues, U.S. Citizen, US Taxes

Arthritis Awareness and Planning Considerations

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Arthritis is not part of the normal ageing process and can steal one’s mobility, independence, and freedom to enjoy life without chronic pain. It is also Canada’s leading cause of disability and workplace limitations. Since September is Arthritis Awareness Month in Canada, I thought readers would be interested in learning the facts about arthritis in our country and what estate planners need to consider. Estate Planners Need to Look Beyond….

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Elder Management, Estate Planning, Smart Ageing
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