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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
Financial abuse is the most common abuse of elder abuse and is the use of a person’s money in a fraudulent way and without their consent or awareness. The Canadian Securities Administrators is launching a campaign this month, which is aimed at family, friends and caregivers of older adults. People are being encouraged to reach
What is a Will? A Will is a legally binding declaration of a person’s wishes regarding the disposition of his or her estate after death. Typically, a Will includes clauses such as: identification of the person making the Will; revocation of all previous Wills; appointment of executors and guardians; payment of debts and taxes; specific
As Canadians age and the need for health care increases, it is invaluable to be aware of your rights as a patient to ensure you make informed decisions about medical treatment decisions. Right to Information on All Treatment Options Also known as the Right of Informed Consent, your doctor is required to inform you of