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Estate planning is the process of managing and maximizing your estate assets and all of the means by which those assets are left to your survivors - your family and loved ones - after you die. Get a Free Consolation with an Estate Planner
Based on our experience working with clients in both Canada and United States, as well as conversations with other professionals on both sides of border (a purely unscientific survey to be sure), successful high net worth families have a difficult time completing a satisfactory estate plan. It’s not unusual for a family to say they [...]
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Trusts are not just for the wealthy or families with a special needs child who require the provision of a Henson trust. Contrary to general belief, trusts can be useful for a significant group of people.
A testamentary trust (one which is included in a will) is especially valuable for tax reduction when a family has [...]
Sometime ago I began a very fruitful dialogue with Kenneth C. Pope, LLB, a lawyer in Ottawa, Ontario. He is one of the most experienced legal practitioners in Canada providing services to families with a family member with a disability and has focused his professional career to help them put in place Henson Trusts.
What I [...]
Over the years in my capacity as a professor teaching estate planning and as an investment manager appointed to manage investment assets held within both testamentary trusts (created by Wills) and inter-vivos trusts (created during a person’s lifetime), I found that many people know very little about the role a trustee(s) play in administrating of [...]
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In Canada, anyone with a disability may be entitled to support payments from the government. For example in the province of Ontario, the Ontario Disability Support Payments (ODSPs) is the provincial sponsored program set-up to provide financial support to assist those with physical and/or mental disabilities that have limited prospects of finding gainful employment do [...]
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Executor and Trustee
Who do you want to appoint to be the Executor and Trustee of your Will?
This is usually your spouse, a reliable family member or a trustworthy friend. If these are not available, you could consider a Trust company or your lawyer. You may also decide to appoint the same person or persons as [...]
Trusts are not just for those who are wealthy or for families who have a child with special needs who require the provision of a Henson trust.
Contrary to general belief, trusts can potentially be useful for a significant segment of the population.
A testamentary trust (one which is included in a will) is especially useful for [...]
The Disability Amount
What is the disability amount?
The disability amount is an non-refundable tax credit that reduces the amount of income tax people with disabilities, or people supporting them, may have to pay.
Who can claim the disability amount?
If you qualify, you, as a person with a disability, can claim the disability amount [...]
What is Probate?
Probate fees are the fees charged by provincial governments to probate your Will when settling your estate. Probating your Will is the process of having your Will authenticated and of confirming the appointment of your executor.
The Cost of Probate
Probate fees are highest in Ontario at $5 per thousand on the first $50,000 of [...]
1. The Trustee and Executor of the Will divides the property as set out in papragraph 4 (usually it is this number) of the will and transfers the share for the beneficiary of the Henson trust to the Trustee of the Henson Trust. Often this is one and the same person.
2. The Trustee of the [...]
My husband died at the age of 59 may 24 2003
I was 57...I am 64 now
My income is 30,000
Have I ...
I was wondering my step aunty is POA for my dad and he has passed away is the POA responsible ...
After reading this, I was not too impressed with the way my mortgage renewal went! It so happens that ...
Having executed a will in accordance with all requirements what are the provisions for 'winding up ' the operation? Is ...
Correction to my posting I was under 35 years old (31 to be precise)
My husband passed away 28 years ago, I was under 25 at the time and was told I was not ...
Will I receive my old age pension if I move out of the country.
I also get CPP. 
I just sat reading most of the comments on CPP and OAP pensions. I find most of these very ...
Hi
I am getting 65 years and entitled for CPP and Old Age Security but my wife is only 59 years ...
My wife has never worked outside of the home. When she reaches 65 will she be entitled to OAS ...
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