Estate Planning

To maintain those good memories of your family cottage, make sure you tie up all the loose ends and have an estate plan for when you pass it along to your surviving family members.

Vacation properties bring their own set of issues

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One of the most challenging issues in estate planning is how to handle the disposition of a vacation property. The challenge is how to dispose of such property either during life or at death. For those with a small family or perhaps a single child, the decision is not challenging. For those with multiple children, the decision on whether to retain family vacation properties or share them among members of the family can be difficult. 

The top five no-nos of estate planning

The top five no-nos of estate planning

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A comprehensive estate plan provides for the transfer of assets to designated heirs after a person’s death as well as makes provisions for management of a person’s affairs in the event they are incapable of doing so themselves while still alive. An estate plan ensures your wishes are carried out. But it must be created properly. Below Amanda J. Stacey, a partner in the Private Client Services and Charity and Not-for- Profit groups at Miller Thomson LLP., reviews some of the most common estate planning mistakes and pitfalls. 

Fr. Edwin Platt, seen in a photo from 1948, donated his family home to the Church in hopes that it could fund a retirement residence for priests in the Archdiocese of Toronto.

One priest’s vision will benefit his brethren for years to come

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In life, Fr. Edwin Platt exhibited a great love for the priesthood and for the well-being of his fellow priests. In death, that love will endure due to a gift Fr. Platt left for the benefit of his priestly brethren. 

All Saints parish

Church support should be forever — and beyond

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Peter Mohanty believes the obligation of Catholics to support the Church is lifelong — and beyond. We should be generous during our life and remember the Church at death. For Mohanty, that has meant including ShareLife in his will. 

You never know where your loved ones will stash their valuables

Don’t keep the secret stash too secret

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Many people are so worried that thieves will break into their homes that they hide their valuables. And sometimes they neglect to let anyone know where things are. 

Entering into a marriage means you should draft an estate plan as well.

Plan beyond the wedding

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If you’re tying the knot, it’s time to draft an estate plan.

When you are unable to make proper decisions. make sure you have someone you can trust to make those decisions on your behalf.

Choose a power of attorney wisely

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Power corrupts, absolute power corrupts absolutely and powers of attorney… well, not so fast. 

Understanding probate

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Anyone in Ontario engaged in estate planning or administration should consider the necessity of “probate.” This requires a clear understanding of what probate actually is and entails, its advantages and disadvantages, to help guide whether probate should be sought — or avoided.

Charitable bequests

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A charitable bequest is, in its simplest form, a gift made to a charity after the death of an individual from their estate.

The Anointing of the Sick is given those suffering from serious illness or infirmity when they are ready to depart this world.

Spiritual power of attorney

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Chances are we have all heard of a Power of Attorney for Personal Care. It is typically drawn up for us by our lawyer, normally when we do our Will.

By purchasing your burial plot while still alive, you save your surviving family members some added grief, as well as getting the plot at today’s prices as opposed to a higher price down the road.

Plan now for your eternal resting place

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Every five years between five million and six million Canadians move. Stability, a job for life, roots are not the hallmarks of our age. But it’s still a good idea to buy a plot of ground or a crypt in a mausoleum in anticipation of your final resting place.

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