estate planning

Estate planning is the blanket term covering your end of life and post-death wishes. The key documents in your Estate plan are your Last Will and Testament, your Living Will (or Healthcare Power of Attorney, and Advance Directives) and your Financial Power of Attorney. If these three documents are in place then you are considered to have completed your estate planning.

Most Common Will-Writing Mistakes

We understand that it’s not easy to talk about estate planning; after all, who wants to think about what might happen when they’re no longer here and the people they will leave behind? It is a complex and emotionally charged topic that carries a potential for family conflict. Not to mention that the laws surrounding Wills are often complex.

Because the process can often feel like overwhelmingly difficult to navigate, many people make silly
mistakes or forget important steps when writing their Will.

Even the tiniest of errors can result in great confusion and conflict and ruin the best-laid plans for passing down your estate. They can also open the door for the contents of the Will to be disputed by your friends and family members and can potentially lead the Will to be completely void.

To avoid this potential ordeal, we invite you to explore this list of common mistakes that people when making a Will or estate planning.

Mistake #1: Not having a Will at all

Of course, contemplating death is a disconcerting task, and making preparations for it can be expensive. However, failing to create the proper documents is the greatest disservice you can do for your loved ones.

If you die ‘intestate’ with no Will, your estate is more exposed to potential claims or litigation. If your affairs are complicated or there is dissension in the family, your estate could be dragged through court for years, incurring legal fees that could amount to thousands or more.

Even if your wishes exactly matched your Province’s intestate distribution formula (which is unlikely) the whole process takes much longer without a Will and assets are frozen in the meantime.

If you are married with children, most Provinces do NOT have everything automatically going to your spouse if you die without a Will.

Mistake #2: Not letting family know your Will exists or where it is

Making a Will is the most important first step, but it will be useless if no one is aware of its existence or location after you’re gone.

You’ll want to ensure your Will is left in a safe place that is still accessible – like a locked drawer, home safe, or safe deposit box. You should also make sure the people you love know where to look for it when the time comes.

Storing your Will

Mistake #3: Your Will was incorrectly witnessed

A Will is not a valid legal document unless it’s signed in the presence of two witnesses.

In most jurisdictions, the testator (Will-maker) must sign the Will in the presence of two witnesses to make it legally valid, and both the witnesses and the testator need to be present at the same time. The
witnesses have reached the age of majority for your Province and physically present at the time of signing the Will.

Having only one witness or none at all could invalidate your entire Will.

There are a couple of exceptions to this, including holographic Wills, but these are not accepted in all Provinces (notable BC where even a handwritten Will must be signed by two witnesses).

Some Provinces do allow “virtual witnessing” but this is usually only permitted if very specific conditions are met.

Mistake #4: Failing to keep the original

Many people mistakenly think a photocopy of a Will is valid, but an executor needs an original Will document to legally administer your estate. Without the original, the executor will have a complicated and expensive process to enable them to get a Grant of probate before they can ensure that your wishes are fulfilled.

A copy may be accepted by the courts if it can be proven that the original was accidentally lost or destroyed, for example, in a house fire. But usually it is presumed that the original was intentionally destroyed if it cannot be found.

Mistake #5: Letting your estate plan go stale

Wills and estate plans shouldn’t be a ‘set and forget’ approach, but
reviewed every few years because intentions and circumstances can change over time.

A common mistake when making a Will or an estate plan is to never look at it again, after initially drawing it up. Wills and estate plans shouldn’t be a ‘set and forget’ approach but reviewed every few years because intentions and circumstances can change over time.

Life is full of unexpected events and failing to review and update your Will periodically to reflect these changes can lead to complications and unintended consequences. For example, not updating your Will after a separation can result in your estranged spouse inheriting assets you intended for someone else.

Certain life events that should prompt you to consider updating your Will include:

  • the birth of another child or grandchild;
  • a marriage or divorce;
  • the death of a loved one;
  • moving to a different province, state or country;
  • new business ventures;
  • buying a new home or another investment;
  • A change in circumstance for anybody named in the Will.

There are many other complicated situations where, if the right trusts aren’t set up, or if a Will isn’t updated, then family members (such as kids from a first marriage or step-children) could unintentionally get left out.

Similarly, you may need to change the executor of your Will if their circumstances change. For example, they might move abroad, which could have a serious impact on their ability to execute your Will. If your named executor is an ex-spouse, a former friend you’re no longer in touch with or an estranged child, you should name a different executor. Also, a sibling who was named as executor could be dead or estranged, in a nursing home, or otherwise incapacitated.

Appropriate guardians for children, too, can change over time, which is why periodic reviews of your Will are critical.

Mistake #6: Making changes to your Will after it’s been signed

Contrary to popular belief, making changes to a Will after it has been signed and witnessed is not as straightforward as crossing out items and adding a note in its place. Alterations require a formal process to ensure legal validity.

To revise an existing Will, you will have to make an official alteration called a codicil, that must be signed and witnessed in the same way as a Will. Codicils can be a complicated process, particularly if you have more than one codicil. It is therefore recommended that you create a new Will altogether.

Mistake #7: No ‘Plan B’

If your Will does not provide for a ‘Plan B’, then the result is that potentially the whole, or at least part, of your estate is left without any destination.

The error that many people make is that they don’t have a ‘Plan B’ if the testator outlives their beneficiaries or if the beneficiaries die before the estate is settled.

If your Will does not provide for this eventuality, then the result is that potentially the whole, or at least part, of your estate is left without any destination. The estate will fall into ‘intestacy’ which means that the default rules as set out in succession law would apply to the division of your estate, which may not reflect your overall wishes.

If you’re fortunate enough to live a long life, there’s every chance that you could outlive one or more of the people named in your Will. It’s crucial then to include backup plans and conditional scenarios to account for the untimely death of any of your beneficiaries and update your Will accordingly if a beneficiary passes away.

This would also apply if you were involved in a common accident with your main beneficiary.

If you name beneficiaries A, B and C to have an equal share of all of your assets, you could also include in your Will that, if one or more of them dies, the assets are either shared equally between the surviving beneficiaries, or the deceased beneficiary’s children receive their share.

Mistake #8: Failing to appoint a guardian for the kids

Assets and money aren’t the only reason writing a Will is so important. They also specify who will take care of your children if you pass away as the only surviving parent. The decision is even more vital if you have young children, so it’s important to think about who you would like to look after them after you die.

If you don’t nominate someone to care for your children in the event that something happens to you, the family court will appoint someone on your behalf.

It’s also critical to appoint a guardian so the children have someone to oversee any money that is left to them. Not doing so exposes loved ones to unnecessary stress and financial hardship especially if legal action is required.

Guardians for children

Mistake #9: Excluding any step-children

If you have step-children with a partner and would like to include them as a beneficiary, simply stating “my children” in your Will doesn’t automatically cover them. This applies even if you have raised them from birth. If you want your step-children to be included in your Will, you will need to explicitly mention them by name to successfully pass assets on to them.

Legally adopted children, however, will be considered the same as biological children.

Mistake #10: Forgetting to set up trusts for minors

It’s important to consider the age of the individuals you name as beneficiaries. Incorporating trust provisions for minors ensures that they do not gain unrestricted access to their inheritance prematurely, should you pass away while your children are still financially immature. The trust provisions can specify that if your beneficiaries inherit at a young age, the assets will be held in trust and dispersed according to the terms of your Will until they attain the age you specify.

Mistake #11: Choosing the wrong executor

Your executor is the person who will administer your estate and carry out your wishes. Naming the ‘wrong’ executor for your Will can throw off your best intentions either due to personality clashes or a lack of ability. There is also risk the process can be dragged out, causing long delays and a period of anxiety for the beneficiaries while they wait for their inheritance.

Is your executor older than you? Often unreliable? Too busy with their own affairs? You may wish to look for another executor such as a family member, close friend or trusted advisor who is more trustworthy, reliable, and capable of handling the responsibilities involved. It is not necessary to hold any professional qualifications to act as executor.

Let the executor know you’re choosing him or her before you draft the Will to make sure they will accept the responsibility.

Your Will should also be reviewed frequently to verify that whomever you’ve chosen as your executor is still the best choice.

The service at LegalWills also allows you to name up to three backup Executors in case your first choices are unable or unwilling to serve.

Mistake #12: Not detailing the personal stuff

Often personal items are the most passionately fought over because of their sentimental value. With that in mind, it is best to be as specific as possible about who gets what.

Consider making a list and describe each item as carefully as possible in a memorandum that you keep with your Will.

Mistake #13: Failure to be specific/being too specific

Being too vague in your Will can cause its own share of problems. For example, if you declare in your Will that Kate gets your favorite Picasso painting, what happens if you have more than one Picasso painting? And did you mean daughter Kate, cousin Katy or Aunt Katherine?

It can be surprising how heirs can fight over low-value belongings that have sentimental value if the Will doesn’t specify who those items are to go to. Including detailed descriptions of the particular items you wish to bequest, proper names of your beneficiaries, and your relationship to the beneficiary may go a long way to preventing confusion as to what you intended at the time you made your Will. If you think there might be some familial fighting, consider attaching a memorandum to your Will that explains the reasoning behind your decisions.

Unintentionally broad instructions in your Will can pose challenges for your executor, too. For example, Paul had four children. His Will left his estate to “all my surviving children.” Sounds good in theory, but is that what Paul meant? If his daughter were deceased, did he really want his estate divided between his other three children, or would he have wanted his deceased daughter’s share to pass to her children (his grandchildren)?

Similarly, if Sophie’s Will left her estate equally to “all my descendants.” At the time she drafted her Will, she had two children and no grandchildren. But by the time she died, her son had four children and her daughter none. Under some laws the term “descendants” includes children, grandchildren, great grandchildren, etc. Thus, by law each descendant gets one-sixth of her estate. Is this what Sophie wanted, or do you think she wanted her estate to go half to her son and half to her daughter?

On the other hand, being too specific can also be detrimental in years to come. A frequent issue is the lack of instructions for the disposition of an asset if it is no longer in your possession at the time of death, or if the asset has been liquidated. For example, if you state that you wish for your “white Mercedes” to be left for your eldest child, but you later sell the car or trade it in for a red Mercedes, it can lead to confusion and potential disputes. Is your eldest child to whom the car is bequeathed entitled to receive a cash equivalent or a replacement car?

Although the specific items bequeathed in a Will may not need to remain in the exact form as when the Will was made, the Will would require precise wording to allow the executor to extend the bequest to the replaced item so as to prevent the legacy from lapsing.

Failure to consider such possibilities can lead to family disputes after death which can significantly delay the winding up of the estate administration. Any costs incurred to establish the legal position will ultimately deplete the overall value of the estate to the detriment of the beneficiaries, especially if matters must be resolved by going to court.

You can get around this by being more general with the details of certain assets – opt for general terms like “the vehicle in my possession” or, if you do want to be very specific, it’s best to always update your Will after buying or selling major assets so that your wishes can be accurately followed.

Mistake #14: Not allowing for flexibility

Occasionally, the wording of Wills can lead to unintended outcome, such as leaving more or less money than desired to an individual or charity.

For example, imagine a woman with an estate worth $10 million whose Will says to leave $1 million to charity and the rest to his children. Under that scenario, the children would get $9 million. But if the estate’s value drops and is now worth only $4 million, the charity would still receive $1 million and the children only $3 million.

You should also exercise caution when bequeathing specific stocks or bank accounts to a particular child. If the asset is no longer owned or has dropped precipitously in value at the time of your death, that child could inadvertently be left with nothing or substantially less than their siblings.

It’s imperative to avoid common mistakes that can have far-reaching consequences when creating a Will.

By regularly have a clearly written Will that is regularly reviewed and updated, considering all your assets, and selecting the right executor, you can go on living stress-free knowing that your wishes will be honoured and that you will not be leaving a mess behind for your loved ones in the future. Also, it will help ensure that the administration of your estate runs smoothly and quickly.

Creating Your Will – What Not to Include

Many people have a pretty good understanding of why having an estate plan is so valuable – with a Will, they are in control of what happens to their estate on their passing. But whilst most are clear on what they want to include in the Will, many are unaware of what they should not put in it, or even more importantly, what may pose legal complications posthumously.

You might think it’s better to include absolutely everything in your Will. Then if there is a problem, your loved ones can work it out after you’re gone. This is a bad idea. You will be astonished to find out that there are cases in which you should leave certain items out of your Will.

With this in mind, here are some of the most common things that people mistakenly believe should be included in a Will, but certainly should not.

Gifts with conditions

Henry Budd, who died in 1862, left his substantial fortune to his two sons on the explicit condition that neither “sullied his lip with a moustache” – the perfect incentive to remain clean-shaven.

German poet Heinrich “Henry” Heine left his estate to his wife, Matilda, in 1856 on the condition that she remarry, so that “there will be at least one man to regret my death”. Ouch.

While certainly comical, these types of conditions would likely not be upheld in a Will today.

If you are considering attaching conditions to gifts left in your Will, think again. Such conditions are oftentimes not legal, and would in any case be very difficult, if not impossible, to enforce. So, if you were thinking about leaving your car to your sister on the basis of her having divorced your brother-in-law, you should not bother.

If, however, you wish to make some form of encouragement, such as leaving your gold watch to your granddaughter on her graduation from university, then this would be acceptable, although again it could be difficult to enforce. Bear in mind there will be nobody to police this after you’re gone. Bear in mind, that your granddaughter may graduate from university when she is 70 years old. This means that somebody will be looking after that watch for a very, very long time.

If you have any property you want to leave with conditions and special instructions, you are better off relaying your personal sentiments in a letter of instruction to help inform your family of your wishes. Note that these letters are informal and not legally binding. They should be used in tandem with your Will. 

Funeral arrangements

A Will is not the right place to set down your funeral wishes. The fact is that your Will needs to go through probate before it can be released to your loved ones and your estate can begin to be settled. Funeral arrangements are one of the first things that will happen after you die, so if you leave your funeral wishes in your Will, it’s unlikely your loved ones will get to see them in time, and so your wishes may not be carried out.

The best course of action is to discuss your funeral plan with your next of kin or executors and leave them a written note of your wishes. You can use our service to prepare a funeral arrangement document that you can leave to your loved ones immediately after you pass.

Gifts to pets

You might love your furry family member more than anyone else in the world, but pets do not have the capacity to own property, so think twice about leaving Fido the holiday home. It is not legally possible to pass assets on to an animal. Think instead about leaving the pet with someone you trust to look after them well, and possibly put some money aside in a pet trust to pay for the pet’s care or donate to animal charities.

Jointly held assets

A Will only covers assets solely owned in your name. Any property that you own jointly with another family member, such as a home or joint bank account with your spouse, or an investment with a sibling, comes with rights of survivorship that bypasses your Will. If one of the joint owners passes away, the surviving owner automatically inherits the property.

There is therefore no point whatsoever in including joint assets in your Will since they have their own built-in mechanisms for distribution. If you want someone other than your co-owner to receive your share of the asset upon your death, your will need to change title to the asset as part of your estate planning process.

Life insurance, pension benefits and other accounts with a designated beneficiary

You don’t need to include assets like these that go directly to a beneficiary in your Will because they pass automatically to the designee upon your death.

There are several types of assets and accounts that are payable to a beneficiary upon death. This is called a beneficiary designation, and is often associated with retirement accounts, RRSP’s RESP’s, pensions, investment accounts and life insurance policies. This is another instance when there’s nothing stopping you from listing these types of accounts in your Will, but it may be best not to. This is because the financial entity requires that you name a beneficiary on the account itself. When you pass away, that account will automatically be paid out to the designated beneficiary associated with the account, regardless of what your estate plan says.

If you accidentally bequeath the property to a different beneficiary in your Will, you could inadvertently create a lot of conflict. Instead, it’s best to include your beneficiary designation in your informal letter of instruction so that your family members are made aware of the accounts.

Anything you don’t own outright

If you have belongings that were funded by a finance agreement, then you will be unable to list these in your Will as they are not legally yours to gift. Items such as leased cars will usually have to be returned to the finance provider.

Business interests for an active business

Although you can give away your business interests in your Will, there are some compelling reasons not to. Wills must go through the probate process which eats up a lot of time. A smooth and uninterrupted transition is usually desired when it comes to business, and you certainly won’t want your succession to be up for contestation.

Personal wishes and desires

Some people use their Will to have a last laugh, or maybe to leave a poignant message to someone they’ve left behind. William Shakespeare apparently left his wife his “second best bed”.

Your Will is an opportunity to smoothly transition assets from your estate to loved ones and beneficiaries. It is intended to bring order for what can be a confusing and difficult time for your family. The moment can be further complicated if you take one last swing by trying to settle a score.

Although your personal wishes are important to you, Wills should not serve as a medium to express sentiments about family relations or be used as a platform to address personal issues from beyond the grave.

Why not use your Will to settle old scores? Simply put, because your Will is a public document, and people you don’t intend can see it.

If you have final issues with your loved ones as you put together an estate plan, it’s better to not mention them at all. Otherwise, you risk adding fuel to the fire and making things more difficult for your loved ones.

You can leave a letter or set of instructions for your loved ones if you wish but consider doing so separately from your Will so that it remains private. 

Asset lists and secret or secure information

Should you put your bank account details, access codes, passwords and other secure information in your Will? Many people assume that they must list every individual account or item they own in their Will. However, this is not the case, and, in most circumstances, you do not need to include specific bank account details or asset lists in your Will.

Most Wills include a clause that deals with the ‘residue’ of your estate. This captures any assets you own when you die that are not specifically mentioned elsewhere in your Will. This clause means you do not need to decide what to do with each of your individual bank accounts or assets.

It’s also not unusual for people to change bank accounts over the years. Therefore, listing specific accounts or assets in the Will isn’t reasonable – as every time you moved to a new account, you would need to amend your Will.

Remember, too, that Wills go through a court procedure called probate, which is a public process. That means people can access the court’s records, find the Will and view the contents with all the confidential information you may have included.

So instead of listing every detail in your Will, the best action is to prepare a list of the assets that make up your estate (account numbers, property and possessions) and ensure that your executor(s) can access this list when the time comes.

Coverage for a beneficiary with special needs

If you have a child with special needs, a Will isn’t always the best option to make appropriate arrangements. For starters, leaving your estate to a beneficiary with special needs might jeopardize their qualification for government benefits and entitlements. It’s strongly suggested that you set up a special needs trust, also known as a Henson Trust or a Discretionary Trust, through which you can make arrangements to support your loved one without jeopardizing their government aid.

Currently, most online estate planning services do not support the Henson Trust. These trusts are complicated financial planning tools, and the laws governing them can vary greatly between jurisdictions. If you are caring for a loved one with a disability, you should consult with a lawyer who has experience with this type of trust and understands your circumstances.

In conclusion

You are probably getting the idea by now that a Will is not always the most appropriate document for everything that you have to say.

Although you’ll want to make sure that every aspect of your legacy is accounted for, you also want to be careful to avoid creating any legal conflict within your estate plan. 

While it might seem hilarious to write jokes into a Will, it’s not without risk. Tempting as it may be to go out with a laugh, a Will is not the place to include eccentric, fantastic, or malicious clauses. It is a legal document designed to be a clear expression of your wishes and unusual requests or jokes would just reduce the clarity of your instructions.

Your Will should be kept as simple as possible, so as not to raise difficulties for those dealing with your estate when the time comes. If you absolutely insist on a joke, or an odd request, check to see whether this could invalidate the Will or lead to ambiguity issues in reading the Will, and avoid doing it if it could.

Is My Power of Attorney Valid in All Provinces?

While your Will names an Executor who will handle the administration of your estate after you die, a Power of Attorney is a document that appoints another person to handle your affairs. This includes making important decisions about your healthcare, finances, and/or property in the event that you are incapacitated or incompetent. You typically write these documents at a time when you have full capacity, to come into effect if you were ever to lose capacity.

We have written extensively on the importance of a Financial Power of Attorney in other blog articles. It is a critical document no matter what your family situation happens to be.

Unlike Wills, which are generally recognized throughout Canada regardless of the province in which they were drafted, the law regarding Powers of Attorney can differ quite a bit between provinces. This means there is no such thing as a “Canadian Power of Attorney for Finances” or “Canadian Power of Attorney for Healthcare.” Instead, these documents may have different names, and different legal requirements for validity, depending on your province of residence. This article will attempt to explain some of these differences, and how LegalWills.ca simplifies the process of creating a new Power of Attorney for every province in which you hold assets.

Powers of Attorney and Healthcare Proxies

As explained in our article about essential estate planning documents, a Financial Power of Attorney gives someone else authority to make decisions about things like whether to sell your home, manage your investments, pay your bills, and file your taxes on your behalf while you are incapacitated. Depending on how it is drafted, a Power of Attorney can be specific, for example limited to certain property (like your home or investment portfolio), or general, permitting complete control over your finances.

Advance Directives
Credit: 123RF

Generally a Power of Attorney written to cover a specific asset is put in place when you are unavailable rather than incapacitated. For example, if you are travelling overseas and you need somebody to sell your car on your behalf, you can do this with a specific Power of Attorney. For the purposes of estate planning, a Power of Attorney is usually a “General” Power of Attorney which says “if I was to ever lose capacity, I would like this person to take control of my financial affairs for me.”

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Understanding the words used in your Will

Are you thinking of writing a Will? Have you perhaps heard of terms like “Executor”, “Bequest”, “Living Will” and are now worried that the process of writing your Will may be beyond you? You may be wondering whether it is possible to write a Will without understanding all of these legal expressions. After all, that’s why many people hire a lawyer to prepare the document for them.

You may be surprised to learn that you really don’t need to understand any of these legal words in order to use a service like LegalWills.ca. However, the words may appear in your final Will, and in that context they will make sense to you. We also explain some of the key definitions when you are working through the service. But you may be interested to learn exactly what some of these words actually mean.

Perhaps you wrote your Will with a lawyer. You have had it witnessed and now it’s stored at your lawyer’s office but you still have no idea what it says. Don’t worry, this isn’t an uncommon situation. Many people go through the whole task of writing a Will and signing it when they don’t fully understand what it says.

Unfortunately in today’s legal world, estate attorneys don’t always have sufficient time to go over every detail and word of a Will. This is partly because their time costs money, but also because writing a Will is an everyday common practice to them. Therefore, they often neglect to go over the basics with their clients. An experienced and understanding estate attorney should always be willing to go over every detail of your Will and explain any confusing language so that you feel comfortable when signing it. However, the legal environment can be intimidating and attorneys may assume that you understand the legal terms when in fact you don’t.

Understanding legal words in the Will

At LegalWills.ca we almost fall into the same pattern ourselves when we talk to customers about the “Executor” and the “Beneficiaries”. We forget that some people may be hearing these words for the first time. They are words that are rarely, if ever, used outside of the context of writing a Will.

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Every document you need, how to write it, and how much it costs

We live in unprecedented times. We have a COVID-19 global pandemic. People are being told to self-isolate. Others are being placed in quarantine.

It’s a worrying situation that does not appear to be abating.

It may be time to pause and to think about which documents you should have in place. If COVID-19 goes away, and we all hope it does, these documents are still important, and will last you for the rest of your life. Hopefully that will be another 50 years or more. The documents may need to be updated as your circumstances change, but it is important to have them in place.

In this article we will describe a complete list of documents that you should put in place. We will explain how to create each one, how much it costs, and the legal formalities for each.

Estate planning documents
Your important documents
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Canadian estate planning quiz

Explanation of the answers

This was a tough quiz covering estate planning in Canada. In this article we will provide you with some explanations for our answers.

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Using an Estate planning lawyer? Here are some questions to ask…

Wondering whether our service is right for you? considering using an estate planning lawyer?

We know that 62 percent of Canadians don’t have a Will in place. A further 12 percent have a Will, but it’s out of date.

Even with that harrowing stat, the legal community still try to warn people against preparing their own Will. Claiming that you can only obtain a quality Last Will and Testament from an estate planning lawyer. Any approach to writing your own Will is going to result in pain for your family and loved ones.

In truth, there was some merit in this argument about 20 years ago when the only do-it-yourself Will writing options were a blank piece of paper, or a blank form Will kit. Both approaches are a disaster waiting to happen, and many estates went through protracted legal battles to settle an ambiguous instruction. Or worse, a Will was simply thrown out because it wasn’t signed correctly.

Thankfully in the years since LegalWills.ca came online in 2001, the online interactive Will writing services have come a long way. Much like tax preparation software that faced a similar backlash from tax preparing accountants, the use of online interactive Will writing services has grown year by year.

Will writing office

Online Will writing services have also improved to a point that for 99 percent of people, the final Will document is indistinguishable from a Will created by an estate planning lawyer. We know this because we use the exact same software used by any estate planning lawyer in Canada. We’ve just give you direct access to it.

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Wills for Blended families and stepfamilies

Wills for Blended families

First a definition;

A stepfamily or blended family is a family where at least one parent has children, from a previous relationship, that are not genetically related to the other parent. Either one or both parents may have children from a previous relationship. Children from a stepfamily may live with one biological parent, or they may live with each biological parent for a period of time.

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The Living Will: where does it fit in your estate plan?

Everybody needs a Last Will and Testament, but does everybody need a Canadian Living Will? We are asked this question a lot, and the answer is not always clear. Everybody should prepare a Living Will, but not every Living Will is going to be used. Most people will never find themselves in a situation where they need a Living Will, but if you are ever in that situation, it is a vital document, but by then it is too late.

 

According to a 2014 Harris/Decima poll, although nearly all Canadians (96%) believe it is important to have a conversation Continue reading →

Lawyers and their egregious charges

CBC’s Marketplace recently featured a special – trying to find the most shocking fees charged by lawyers in Canada.

 

The banks and airlines featured prevalently in the discussion, but so did lawyers. People seemed to be incensed by the nickel-and-diming billing practices and when it came to voting for the 5 most egregious fees, one particular lawyer was included.

One of the most ridiculous submissions takes nickel-and-diming to a new level. One man complained of being charged precise amounts for every office supply his lawyer used.

“[I was] charged separately for staples ($0.07 each) and paperclips ($0.12 each) on my legal bill for doing up a will.”

It’s important to read this carefully. The lawyer wasn’t charging for the staples and paperclips in the Will, no, they were charging for the staples and paperclips used on the bill that was prepared for creating the Will !!

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