Your original Will should be kept somewhere safe and accessible, when it will be needed. A copy should be kept in a personal file and you should let your executor know where to find it.
Contrary to popular belief your safety deposit box is not the safest place. Most financial institutions will require court authority to grant access to your executor and without the original Will this can be very difficult – often creating a catch 22 situation.
For more information contact us at 905.337.3307
What is an Administration Bond? An administration bond is personal liability imposed on a prospective estate trustee to protect the interests of the beneficiaries and creditors if the assets are misappropriated. The bond is obtained from a surety (usually an insurance company) and given to the court. The amount of the administration bond that must
What is a Care Home? A care home is rented accommodation that provides care services. Such services include nursing care, prescription drug supervision, an emergency response system, transportation, incontinence care and assistance with daily activities (e.g., eating, bathing, dressing, and personal hygiene). If you live in a care home, you have the same rights as
Should I Hire a Selling Agent? When selling your home, you have the choice of going “For Sale by Owner” (FSBO) or hiring an agent. The principal advantage of selling your home yourself is that you save the cost of commission. However, there are a number of drawbacks. Your home will generally have less exposure
Passing of Accounts Estate Trustees are required to keep accurate and up-to-date accounts of the estate or trusts they are administering. Obtaining the court’s approval of these accounts is a process known as “passing of accounts”. The court’s approval is not always required, but in certain circumstances a passing of accounts is necessary. These instances
DYING WITHOUT A WILL; INTESTACY LAWS IN ONTARIO In accordance with the Succession Law Reform Act (SLRA), when you die without a Will (known as dying intestate) your estate will be administered according to the law of intestacy. The Rules The rules of intestacy are inflexible, and apply regardless based on bloodlines. These rules may
What are the consequences for NOT filing with the Minister of Finance? Estate representatives who fail to file the Information Return as required, or who make false or misleading statements on the return, are guilty of an offence and, on conviction, are liable to a fine of at least $1,000 and up to twice the
SWEATMAN LAW FIRM OAKVILLE
217 Speers Rd, Unit 14
Oakville, ON, L6K 0J3
Phone: 905.337.3307
Fax: 905.337.3309
SWEATMAN LAW FIRM GEORGETOWN
145 Mill St.
Georgetown, ON, L7G 2C2
Phone: 905.337.3307
Fax: 905.337.3309
