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estate beneficiary advice Archives

Estate beneficiary advice may serve a testator well

When making a will, some Ontario people want to have full control over what happens to their assets after they die -- even unreasonable control in some cases. Not all restrictions or conditions will be allowed by a probate court. A valid condition placed on an inheritance must be not only legal but also clear and possible. Estate beneficiary advice may be necessary when drafting a will.

Before challenging a will, seek estate beneficiary advice

When someone close has passed, it can be a deeply emotional time no matter what one's feelings truly were for that person. Should one then be left out of the will, receive a disappointing bequest or be displeased with the remainder of the will, emotions can run even higher. At a time like this, estate beneficiary advice is likely in order. Challenging the will could be an option, as it was for three heirs left high and dry west of Ontario.

What are the essentials of a Canadian estate plan?

Even without estate tax, there is a need for estate planning in Canada. For starters, there is a deemed disposition tax that is applied to the estate. Canada law requires that any investments be deemed as sold upon an individual’s death. Any capital gains from that deemed disposition must be reported in a final income tax return.