Your estate needs the right people managing it. Some opt for two or more “co-executors” to help with this. In this blog post, we outline the pros and cons of these arrangements. Contact a Lawyer What Is a Co-Executor of a Will? In Canada, co-executors of a will share your estate’s responsibilities. Their main goal…
If you’re planning your estate and have recently learned about probate, you’re likely asking yourself whether there are any opportunities to reduce the costs of the process or avoid it altogether.
After drafting your will, you will likely need to update it several times over the years. Learn when and how to update your will.
A will is essential and creating one should be the first step you take toward estate planning, but most people require more than just a will for a complete estate plan. Estate planning will look different for different people, depending on the type of assets you have and how many beneficiaries you have. Here are…
What are the Responsibilities of an Estate Trustee? Your estate trustee is responsible for administering trusts, including inter vivos and testamentary trusts. This means that trustees’ responsibilities include administering the trust, executing the estate’s terms in a timely manner, and acting in accordance with the best interests of the beneficiaries. Being a trustee is a…
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…
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…
Why Writing a Will is the First Thing You Should Do as a New Parent Why All New Parents Should Have a Will Many new parents don’t think about creating their will because they are busy adjusting to life with a baby. However, having a will becomes even more important as soon as you have…
While you do not legally need a lawyer to prepare your will, there are a number of reasons why we highly recommend having your will prepared by a professional lawyer. Your Will Can’t Be Easily Contested If you have a will that was drawn up by a lawyer, it is much more difficult to…
