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If you or someone you love is one of the over half of Canadian adults who don’t have a valid Will, take note. Not having a valid Will at death may lead to consequences which you would prefer to avoid.

Generally speaking, it is fair to say that in most circumstances the process of settling an estate is much simpler if the deceased leaves a Will. Not having a Will often translates into increased delays in handling the estate. For example, no one will be able to handle the deceased’s affairs until the Court has appointed someone to be the ‘Estate Trustee Without a Will’ (also known as the ‘executor’). This means that no one will have the authority to deal with any of the deceased’s assets, including a house, bank account, or car, until the appointment of an executor.

As we noted in our previous blog, just over half of all Canadian adults do not have a Will. We think it is probably fair to say that the majority of those Canadians without Wills are aware that they should have one. Anecdotally speaking, whenever someone finds out what we do, their first comment is generally an acknowledgment that they should get their Will done.
Perhaps part of the issue is not knowing where to start. Also, the process of having a Will prepared may itself seem overwhelming. And let’s face it, it is not easy to contemplate one’s death and how best to provide for one’s loved ones.

Follow these steps and start your Will today!

If you don’t have a Will or you have a Will but you know that it is out-of-date and should be updated, here are three simple steps to help get the ball rolling:

Election day is finally over for our neighbours to the south and today the world awoke to Donald Trump as president of the United States of America. Yesterday at the polls, American voters were faced with a significant decision, one that will undoubtedly shape the future of North America. As with all of life’s important decisions, a vote for either candidate came with its own benefits and risks which had to be carefully weighed by the voters. Fortunately with some decisions, there are ways to manage possible risks. When making the significant decision to buy a house, you can reduce some of the possible risks by getting title insurance.

Even though title insurance has been popular in Ontario for the past fifteen years or so, it remains somewhat of a mystery to existing and prospective homeowners. When buying a property, be it a home or cottage, people generally recall signing a whole lot of legal documents, their lawyer getting something called title insurance, and being handed the keys on the day of closing. Few, however, recall the specifics of the title insurance they purchased and the vital role it can play should an issue with title arise.

Let’s have a look at some of the basics in an effort to clear up some of the mystery.

What exactly is ‘title’?

We often get asked this question from our estate planning clients at our law office in the Kanata-Stittsville area of Ottawa. In our experience, the concern usually stems from the desire to know that the inheritance will be able to be passed down to grandchildren rather than being shared with an ex.
In short, the answer to the question is, maybe. It all depends upon what your son or daughter chooses to do with the inheritance.