Help executors avoid these common errors.
Advisors often recommend life insurance based on the fact that it’s easy for heirs to collect policy benefits. But executors, known as estate trustees in Ontario, still need to know how the process works, and potential pitfalls that can happen along the way.
Avoid common mistakes
Make sure charitable bequests are honoured.
In 1960, it cost around $700 to bury someone in the U.S. Now, prices are tenfold, averaging $7,000 in 2012.
No matter how well someone crafts her estate plan, ex-spouses, disgruntled business partners, estranged children and misguided family members can still challenge her wishes. Estate professionals must anticipate such backlash.
On October 31, the IRS released inflation adjustments for more than 40 tax provisions.
Big changes to CRA’s rules for testamentary trusts take effect in 2016.
The best way to learn is through mistakes. So here are three common estate planning offences.
Are you preparing your clients to handle their inheritances responsibly?