Contrary to popular belief, the government does not automatically take the assets of a person who dies without a will leaving no spouse or children to inherit. https://t.co/oDAoLbpMRT #nowill#inheritance
Mortgage financing ... Stress Test rules apply to all six of Canada’s chartered banks. It does not apply to credit unions and other lenders, although some of them are also following the Stress Test rules. https://t.co/2d9qxvX18E #mortgages#qualify
A Trust can be used as a vehicle to avoid probate fees payable upon the death of a person. If a Trust is created that is irrevocable the Trust does not form part of the deceased’s estate. https://t.co/YnIvhKkqtG #estateplanning#probatetax#inheritance
If you are the beneficiary of an estate, what information should you expect from the executor / estate trustee and what happens from your perspective as a beneficiary? https://t.co/0KVOoM44u9 #EstatePlanning#EstateAdmin#Beneficiary#EstateAssets
Executors and the beneficiaries of an estate may panic when they discover the deceased’s original Will has been lost or destroyed or they just cannot find it. https://t.co/CAUBsesCx5 #lostwill#legaloptions#estateadmin#estateplanning
https://t.co/A0suS9tLhd There are ways to prompt a person who may have a claim against an estate to make the claim in a timely manner so the “winding up” of the estate can be completed #outstandingclaims#estateadmin#distributionofestate
The amount of income support you can receive from ODSP is directly affected not only by a person’s income, but also the assets they own. Learn more here https://t.co/bVbesA4hL6
https://t.co/nJ9IXHYh9R If you become incapable and you do not have a Power of Attorney for property that survives incapacity the Ontario Public Guardian and Trustee will be “Statutory Guardian”. #estateplanning#poa#will#statutoryguardian
Another way Gilmore and Gilmore offers remote service to clients is through Dropbox. A storage platform that allows access to files whether you are on a network or a cell phone system. https://t.co/E7fxKMw3En #remotelaw#lawathome#stayingconnected
Using Basecamp allows Gilmore and Gilmore staff to work remotely. We are also able to include our clients in this virtual world increasing the safety, speed and efficiency of communication with them. https://t.co/QgD1WWD6lR #virtuallaw#remotemeetings#estatelaw
A Will does not usually have the details of the assets in it. There is a good reason for that. If you list the assets in the will, the will has to be changed when assets are acquired or disposed of. https://t.co/PduBBFDwpm #estateplanning#estateadministration
Beneficiaries may force the disclosure of the estate accounting as well as information related to the value of the estate from the date of death to the date of distribution. https://t.co/qC73DhoF5R #estateaccounting#estateadministration#beneficiaries
Bequeathing a farm in your Will? HST is often applicable on farmland inheritance. For HST not to be paid on such a transfer, certain conditions must be satisfied. https://t.co/7eaRrh3CzA #estateplanning#inheritance#farming#agriculture
Inherited property and possessions are considered to be assets of a person receiving ODSP; their value can be included in the calculation of income in the month they are received. There are some situations where they may be exempt. https://t.co/smRKMEZ6XU #odsp#inheritance
A Will has to be in writing. Simply telling someone your wishes is not legally binding and is not considered a Last Will and Testament. https://t.co/gzlJdAPW58 #wills#estateplanning#estateadministration
When you are legally divorced in Ontario, the appointment of your spouse as estate trustee or naming your spouse as a beneficiary is revoked. This does not apply if you are separated, but not divorced. Learn more https://t.co/U0Wn87XQeg #estateplanning#divorce#separation
Parents are open to make a direction as to who should become temporary guardians of their children. However, there are limitations to a parent’s ability to make such an appointment. https://t.co/I8zsRCaIlg #estateplanning#guardianship#willandestates
There are many positive reasons to incorporate your business or professional practice. The main reason lawyers recommend clients consider incorporating is to limit personal liability with respect to the corporation’s actions. https://t.co/s2fPxtYoFp #businesslaw#incorporation