We have mentioned here before the fact that many Canadians currently live without estate plans in place. The reality is that if you don't take the steps to create an estate plan, the assets and property you leave behind become subject to the governing legislation.

Dying without a will is...

As we move towards and progress through the largest intergenerational transfer of wealth in history, people are looking for ways to improve the efficiency of this transfer, especially with respect to taxes. As a result, there has been a proliferation of creative strategies to reduce the amount of estate administration...

One very common way of avoiding estate administration tax (formerly known as "probate tax") is the utilization of joint accounts. A common feature of joint accounts is that they provide a "right of survivorship" between account holders. In other words, if one joint account holder dies, the entire account can...

It has been said that nothing is certain in this world except death and taxes. This episode of Hull & Hull TV deals with both.

When a person passes away, his or her obligations to pay tax live on. The estate trustee becomes responsible for making sure that the deceased's...

Many have heard the saying that the only two certainties in life are death and taxes. How the two relate, however, is something that is not often fully understood.

An estate tax is conventionally understood to be the tax that is paid on your death. In Ontario, one such tax...

There are a number of situations where an individual is called upon to take responsibility for the finances of another. These situations occur when a person acts as an attorney for an incapable person's property, when a person is managing the property of a trust, and when a person is...

Estate litigation can be costly, both financially and emotionally. Thankfully, there is another avenue besides the courtroom that can serve to reduce both types of stress: alternative dispute resolution. Alternative dispute resolution mechanisms allow for disputes to be dealt with outside of the courtroom and are often an attractive means...

A Power of Attorney is a written document in which authority is given to your Attorney to make decisions on your behalf. In other words, it is the appointment of a substitute decision maker. A Power of Attorney is a very important document which allows you to plan for situations...

Powers of attorney for property and for personal care are some of the most important documents in any estate plan. They determine what happens to an individual's property and who may make decisions about his or her health care, place of living, and more when the grantor is alive, but...

Approximately one half of Canadians do not have a will. For those who do, many are in need of an update. While preparing a will is not a priority for many of us, the reality is that nobody lives forever. As the baby boomer population ages, we are approaching the...

As mentioned in previous episodes of Hull & Hull TV, even well thought out and well-drafted wills can end up being challenged in court. Avoiding litigation and keeping everyone on speaking terms should be every family's goal -- but it is easier said than done.

We live in an...

Even carefully drawn wills can become the subject of disputes and litigation. Having a poorly drafted will, or no will at all, increases those odds exponentially. Despite this, over 50 per cent of Canadians do not have their testamentary wishes written down in the form of a will.

The cottage can be a place full of warmth and the source of lifetimes of memories for many families. They remind individuals of summer days spent with beloved family members and the happiest moments of childhood. They can be instrumental in bringing families together.

Tragically, all too often, they...

People are choosing to live together in common law relationships in ever greater numbers. Although these relationships very much resemble legal marriages in day-to-day life, the law does not treat them quite the same way. When one spouse dies, the surviving partner can be left in a vulnerable position if...

Families are becoming more complex. People are living longer and entering into second and third marriages like never before. Coupled with increased wealth, this is leading to an increased number of family law claims against estates.

In our practice, we often see instances where surviving spouses are not adequately provided...

As people are living longer, the amount of wealth in the hands of the elderly is increasing. The number of people making changes to their wills or estate plans later in life is increasing as well. These trends are set to continue over the next several decades. The legal profession...

When most people hear that someone has been "disinherited," they usually think of someone who has been written out of someone else's will. While this certainly is the classic definition of disinheritance, it is not the only way that a person can be excluded from an estate.

Through their actions,...