Estate Planning

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Powers of Attorney for Property – Part III: Drafting Considerations for specific provisions

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This blog has been written by Pritika Deepak, Associate at Fasken LLP. The final part of this three-part blog series discussing Powers of Attorney for Property (“POAs”) in Ontario, will focus on specific provisions and some considerations to keep in mind when drafting these documents. Specifically, it will provide a high-level overview of the use of multiple POAs, considerations for appointments, and conflict of interest provisions in POAs. Multiple POAs….

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Estate Planning, Power of Attorney, Succession Planning, Uncategorized

Again and Again About the Capital Gain: Cottage Succession Planning Part 2

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Scotiatrust

This blog post was written by: Derek Hambly, Estate and Trust Consultant, Scotiatrust London In part one of this post, posted on June 5th we discussed that if your cottage is not also a qualified farm or fishing property, avoiding capital gains entirely can only really be done by declaring it as your principal residence. However, in the circumstance where the cottage is not the best option to declare as….

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Cottage, Estate Planning, Tax Issues

Avoiding an Accidental Intestacy: A Reminder for Drafting Lawyers

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I recently had the pleasure of leading a course for lawyers who want to learn how to draft Wills (or improve their existing skills). One of the topics that we discussed at some length was how best to draft a residue provision in a Will, where there are multiple residuary beneficiaries. I thought it may be helpful to summarize a key discussion point from our session here, as in my….

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Estate Administration, Estate Planning, Wills

Cottages, Cabins, and Capital Gains

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Scotiatrust

This blog post was written by: Derek Hambly, Estate and Trust Consultant, Scotiatrust London It is that time of year again when cottages, cabins and recreational properties are top of mind. Sitting in traffic getting out of town to get to the lake doesn’t seem so bad when your home-away-from-home is waiting for you…. unless of course you are worrying about the capital gain that has accrued on that property….

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Cottage, Estate Planning, Tax Issues

Winner/Gagnant!!!!! Six Estate Planning Considerations For Lottery Winners

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  You’ve already beaten the odds — now make sure your fortune doesn’t roll the dice without you. Over the years, I’ve had the privilege of helping lottery winners turn sudden wealth into lasting legacies. Here are six key considerations to keep in mind from an estate planning perspective: Assemble a Strong Advisory Team Winning the lottery is thrilling — but it can also be overwhelming and cause immense anxiety…..

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Charitable Giving, Estate Planning, Succession Planning, Trusts, Wills

Decoding the Mysteries of a Testator’s Intention

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This blog post was written by Mohena Singh, Associate at Fasken LLP. Imagine a picturesque cottage in Shrewsbury, Ontario, a place filled with family memories and the promise of future gatherings. This cottage, however, became the centre of a legal conundrum after the passing of its owner, Floyd Kersey (“Floyd”), and the subject matter of the case of Spencer v. Spencer et al.. Floyd’s will, crafted in 1983, was meant….

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Cottage, Estate Planning, Family Conflict
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