The legacy of love blog

Why is it important to review your Will?

will Jul 02, 2019

Your Will is the document that specifies how your estate will be distributed upon your passing. Once it is made, it should be reviewed and updated to account for any major life changes. Many people will create a Will, store it in a safe place, and then forget about it, failing to consider that when it comes time to read the Will, it may not adequately address new or altered relationships and circumstances. Here are three reasons why you should review your Will:

You need to appoint a new...

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How does having stepchildren affect your estate plan?

Each blended family is unique. Maybe your second marriage happened later in life, after your children and your spouse’s children became adults; as a result, maybe you don’t want to include your stepchildren in your Will. On the other hand, you may have a very close relationship with your stepchildren, having raised them as if they were your own. In this case, you may very much want to ensure that they get to share in your estate when you die. 

If you DO want to provide a...

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It’s a New Year: Make or Update your Will!

will Jan 16, 2019

Many of us make New Year’s resolutions each year and, more often than not, these resolutions prove to be unsustainable. In fact, right about now, you may be starting to question whether or not you will be able to achieve some of your goals! Making a new Will or updating an existing Will is a resolution that is relatively easy to achieve.   

Two of the most important functions of a Will are:

  1. To appoint an executor to manage your affairs and wrap up your estate when you are...
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Does every Will have to be probated?

probate will Dec 13, 2018

No, not every Will has to be probated. For instance, assets that are held jointly with a right of survivorship would pass outside the Will. As another example, a home held jointly between a husband and wife would pass to the survivor of them upon the death of one of them. Probate is not needed to transfer title to the home and for this reason, probate does not typically occur on the death of a spouse.

Many people place their children on title to their home in the hopes of avoiding probate....

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Should you preplan your funeral?

Preplanning your funeral can act as a gift for your family when you are no longer around. In addition to the grief that they will be experiencing as a result of your passing, your family and friends may stress over the details of planning a funeral. They may be uncertain as to whether or not you would have wanted particular services or may be concerned about your approval. By preplanning services and events, your loved ones will be able to celebrate your life with peace of mind in knowing...

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Writing your memorandum

Writing your Memorandum

  • Describe the item in enough detail so that it cannot be confused with another item;
  • Identify the recipient by name and if necessary, relationship so that there can be no confusion;
  • Date and sign the Memorandum;
  • Store the dated, signed Memorandum with your signed Will;
  • Let your Executor know that there is a Memorandum.

Changing Your Memorandum

Edits made on a Memorandum, even if initialed and dated, may be questioned regarding authenticity.  If you wish to make a...

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Should I use a DIY Will kit?

estate planning will Oct 04, 2018

A do-it-yourself (DIY) legal Will kit that is correctly filled out can save you about $500 and take care of your assets after you die – but are these Will kits a good idea?

In order for a form or document, like a Will, to be truly effective and to stand up in court if challenged, it must be filled out and executed (signed) correctly. Most people do not know or understand the legalese on the forms and make guesses, which can invalidate the document; in our experience, most people...

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Personalize your legacy

legacy trust will Sep 27, 2018

Some of the most meaningful Wills are those that include messages to family members. These Wills provide a message that can be delivered from beyond the grave.

One of my personal favourite Wills was a Will that was written by a wonderful elderly school teacher who had a close group of friends that got together every week for a cup of earl grey tea and fresh biscuits. Over the course of her life she had collected and been given many beautiful tea pots. Upon her death, her Executor had an...

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When a 'do it yourself' Will is no Will at all

will Sep 20, 2018

Often times, Wills don't get the attention they should and frequently end up being little more than an add-on service provided by a lawyer when you purchase a new home or a 'do it yourself' document.

Here are 4 common mistakes that our office sees quite often:

1)     Leaving too much money to kids too early...

If you and your spouse die simultaneously and you add up all your assets, like the value of your house, life insurance, investments, and pension benefits, your estate may...

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Eight questions you need to ask yourself about your Will

will Aug 01, 2018
  1. Do you have the original Will?
  2. Is there an Affidavit of Witness attached to the Will to show that the Will is genuine?
  3. Is your estate still being distributed the way you would like, including charities to provide a tax benefit?
  4. If you have minor beneficiaries, do you have a trust in the Will?
  5. Have you indicated funeral instructions or information on organ donation?
  6. If you are contributing to someone’s RESP, have you planned for someone to be an alternate contributing subscriber?
  7. Are...
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