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Posts tagged "wills and estates"

Changing a will after the testator passes away

Drafting a will can be a complex task for some individuals. Some people have children from different marriages or are estranged from certain individuals. In some cases, people may have drafted a will earlier in their life and did not update the will to reflect changes such as births, divorces, ownership of new property or the acquisition of specific possessions over his or her lifetime.

What are my rights if a loved one passes away without a will?

If a loved one passes away without a will, his or her estate will be distributed along legislative guidelines. This means that the will be distributed in accordance with a set of rules as which surviving family members gets which parts of the estate.

Estate planning after a marriage or divorce

The marriage and divorce of two people can have a large impact on your estate planning documents. Generally, its best advised to re-evaluate your testamentary documents such as wills, powers of attorney and insurance policies each time you pass a major life milestone, such as getting married, buying property, having children, or filing for divorce.

What happens to an estate if you have no spouse or children?

Many people may not be aware of what happens to their assets if they pass away without a spouse or children. Whether you are married or not, or have children or not, a will is an important tool for you to bequeath your possessions according to your preferences.

Estate Planning and Taxes

Having a valid will at the time of someone’s death can help reduce the stress of sorting through someone’s estates. A valid will allows beneficiaries to receive assets as the recently passed intended. It also allows the surviving family to avoid intestacy laws, which means dividing assets per legislation.

What Should I Include in An Estate Plan?

An estate plan is more than just a will. It allows you to distribute your possessions, as well as protect your wealth, well-being, and provisions for dependents. If you do not have a will, your assets will be distributed per provincial legislation, not according to your specific wishes.

Wedding season is a good time to take stock of your estate

Spring is here, and so is wedding season. While weddings are an exciting time – the promise of a new life, watching friends and family embark on new adventures – it is also a time of many changes. As couples start looking at buying properties, growing families and expanding their financial portfolios, you may want to consider your own estate and wealth.

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