Pets are wonderful companions that become part of the family. Having a pet can provide people with a sense of purpose, decrease loneliness, and can improve quality of life for those who are aging or ill. However, many people do not know how to plan for their pets’ care after they are gone.   Options…

What is a Living Trust? A trust allows you to provide financially for dependents or other loved ones, such as children or grandchildren. A trust can be set up in various ways, depending on your individual needs and preferences. One of the most common types of trust is called a “living trust.” A living trust…

Advantages and Disadvantages of Joint Ownership for Will Planning Many clients come to us asking about whether joint ownership is the right choice for them in terms of estate planning. Here are the basics to know about joint ownership for will planning.   What is Joint Ownership? Joint ownership is exactly what it sounds like:…

How to Leave Assets to Minors Responsibly When we have clients looking to leave an inheritance to minor children, we generally see two main types of this situation: people wanting to leave a large sum of money (usually parents planning to provide for minor children in the event of their untimely death) or wanting to…

Choosing an Executor Many people choose their executor simply based on who they are closest with, but there are actually a lot of factors that you should consider when making this decision.   Duties of an Executor The executor of a will can have a variety of duties, including: Applying for probate Managing and paying…

Not sure how to go about choosing a wills and estates lawyer? Start with these simple guidelines. Speak to a Lawyer Now   Ask for Referrals When you need a lawyer, start by asking around. Find out who family and friends have used for their will and estate planning and what their experience has been…

How to Transfer Your Business to a Family Member If you want to plan the handover of your business to a family member, you can choose to either sell the company to them or implement an estate freeze. Get Help from a Lawyer Selling a Business to a Family Member Some business owners choose to…

Will Considerations for Blended Families In blended families where two people in a couple may each have children from previous marriages and/or have children together, asset distribution after death can be somewhat complex.  What Happens to My Blended Family if I Die Without a Will? It is highly recommended that those with blended families have…

Estate Planning For Childless Individuals What Happens if You Die Without a Will When You Have No Children? If you are a childless person and you die without a will, your assets go to your spouse or common-law partner. If you don’t have a spouse or common-law partner, your assets will go to your parents….

A testamentary trust is a type of trust that comes into effect upon the occurrence of a person’s death. For example, a parent might set up a testamentary trust to provide for a child in the event of the parent’s death. When the parent passes away, the testamentary trust takes effect and becomes available for…

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