Advise common-law clients to plan for split

divorceCommon-law spouses enjoy the same spousal support rights as married couples under the Family Law Act (Ontario) if they’ve lived together continuously for more than three years or had a child together.

But in Ontario, common-law spouses don’t enjoy the same property rights as their married counterparts.

And if you fail to advise clients of how the law handles separation for common-law couples, they could face nightmarish legal battles lasting years and costing tens of thousands of dollars.

But this War-of-the-Roses scenario is avoidable. Sigue leyendo

Ten good reasons to make a power of attorney

Power of AttorneyPowers of attorney are documents giving someone else the power to make decisions on your behalf when you are no longer capable of doing so. These could be financial decisions or, depending on the type of power of attorney given, decisions about your welfare.

They are very important documents, and should not be taken out lightly or without expert advice. But are they worth doing?

We think so, and here are a few reasons why:

1. We are all living longer. This is undoubtedly a good thing, but it does mean that more of us are likely to be afflicted with conditions that affect our mental capacity. It makes sense to plan ahead, just in case it happens to you.

2. It makes it easier for your friends/relatives to take care of you. If something happens to you, such as a serious road accident, for example, and you don’t have a power of attorney in place, then it can be difficult for your relatives or friends to deal with things like your bills or mortgage without going to court first. Sigue leyendo

Estate Planning For A Loved One With Special Needs

special needs

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For many families, taking care of a loved one with special needs is a daily challenge. Whether it is a child, sibling or other family member, the compassion and caring instincts can be overwhelming. But when it comes to the specific estate planning needs and desires of these situations, it can be very important to look at all the contingencies.

While you want to make sure that your loved ones needs will be met or surpassed, you also need to make decisions that will benefit your overall estate plans at the same time. If your planning also involves family members without special needs, specific considerations should be in place that will maximize the overall benefit to your family, while not sacrificing your special needs plans.

Seven Factors To Consider: Sigue leyendo

Your onlife life can be used against you!!

Your Online Life

Your Online Life

Most of us post many things on social networks (photos, friends, fans,…) we all have electronic banking (balances, transactions, receipts,…) on internet. Others have their own blog (opinions, ideologies, phobias and filias, …) but we, one way or the other, have our online life. What are you going to do? Sigue leyendo

Estate Planning Considerations for Young People

Estate planning is not just for older or wealthy people, younger people need an estate plan if they have minor children or to be prepared in case of a serious injury or accidental death.

Younger people who participate in risky sports or activities like skiing, cliff diving, car racing, or even boxing should consider the possibility that they could become seriously injured and require long-term medical care. Even worse, your untimely death could result from these activities.risky Sigue leyendo

Making a last will and testament in the US

In the US current legislation does not establish limits nor compulsory heirs as in most countries in the rest of the world. Testator has the freedom to include in last will people or organizations without the constraints that other legislations impose to protect the family specially next of kin. Bearing in mind that your decisions might not interfere with spouse rights that can be contained in individual state laws.

Besides the estate distribution when the person dies without a will the court has to first of all probate that estate and secondly name an administrator for that estate. This is a long and expensive process. In most cases all the estate unknown by the court either because is abroad or just because it is difficult to certify is lost.

US intestate laws vary from one state to another. Most current succession legislations determined according to next in kin heirs and if there is no any, the estate passes to the state.