You know incapacity planning and powers of attorney are important, but how much do you really know about how they work?
Make sure they prepare both types of power of attorney
Understanding what happens when someone becomes incapable of managing her financial affairs or personal care, without having appointed a substitute decision maker, may help motivate people to plan for potential future incapacity.
The roles and responsibilities of trustees.
joint tenancies and simple wills can have expensive consequences
Should parents let children know they’re in the will?
For most Canadians who have prepared a will, the executor was one of the least considered parts of the plan. The vast majority of testators pick a family member or friend, even if this isn’t the wisest choice.
Trustee duties explained - A trust is a relationship between three parties: the settlor, the trustee and the beneficiary.
Everyone wants to find extra cash. There is no shortage of articles, webcasts, and conferences discussing investments, the market and how to get the best return.
Trusts are among the most effective estate planning tools. They have been a staple of estate planning in the common law world for centuries because of their unique structure and flexibility. Trusts have remained relevant because they easily adapt to various social and cultural changes. Originally created to address land ownership issues, today trusts are well suited to address significant taxation of income, complex family structures and a desire to protect vulnerable family members.