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

Keeping Funeral Costs Affordable

Funeral CostsAnyone who’s put a loved one to rest knows that death is not cheap. According to the National Funeral Directors Association, the average adult funeral cost $6,560 in 2009 (their most current data). That doesn’t even include such common add-ons as a cemetery plot, headstone, flowers, obituaries and limousine, which can add thousands to the bill.

Because death is a frequently avoided topic, many people aren’t armed in advance with information about the many variables — and costs — involved in planning a funeral. Thus, just when survivors are grieving and most vulnerable, they’re bombarded by decisions that must be made quickly, often without even knowing what their loved one would have wanted.

The key message for the living is to decide on your preferred funeral arrangements Sigue leyendo

Estate Planning For A Loved One With Special Needs

special needs

disable

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

10 main reasons to make your will and testament

 

 

Today from Mypatrimony wish you all a happy weekend, but before you come back home with your family and friends and enjoy with them, we leave you this list that according to us the 10 main reasons why making your last will is so important but not just that but update it and make it easier for your loved ones using our free tool to register and plan your estate by clicking here:

 

1) Your children

2) Your spouse

3) Your family as a whole

4) To protect the outcome obtained with the efforts and work of your life

5) To avoid complications and unnecessary expenses for your heirs once you passed away

6) So you are sure your real last wills are known by those you want

7) To avoid the State gets the whole or more than necessary if you have no heirs or cannot locate them because unknown or abroad

8 ) To assure your estate is transferred to the people or organisms you wanted

9) To avoid that certain assets do not get to the people you would have wanted because you did not said that in advance

10)  In summary, to be just you who decides about your estate not others