Wright & Associates Estate Planning Newsletter
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Significant Tax Changes to Estate Trusts - McLennan Ross Law Firm in Calgary, Edmonton, Alberta, and Yellowknife

Significant Tax Changes to Estate Trusts - McLennan Ross Law Firm in Calgary, Edmonton, Alberta, and Yellowknife | Wright & Associates Estate Planning Newsletter | Scoop.it
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Ontario probate rules tightened - Article - investmentexecutive.com

Ontario probate rules tightened - Article - investmentexecutive.com | Wright & Associates Estate Planning Newsletter | Scoop.it
New legislation will require more detailed information about assets
Wright & Associates's insight:

If the government determines that an estate's value was underestimated, it can issue an assessment or reassessment notice up to four years after the issuance of the probate certificate. Beyond the four-year limit, the government can still assess or reassess an estate if the estate trustee failed to file an information return within 90 days, deliberately made false statements or excluded information on the return.

Executors who fail to file an estate information return or make false statements on the return may be liable to a fine, penalties or imprisonment.

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Ontario probate rules tightened - Article - investmentexecutive.com

Ontario probate rules tightened - Article - investmentexecutive.com | Wright & Associates Estate Planning Newsletter | Scoop.it
New legislation will require more detailed information about assets
Wright & Associates's insight:

The Government of Ontario, in it's infinite wisdom, has now just mad dying more difficult.  They are trying to find ways to raise revenue and have decided that being an executor isn't difficult enough, now you have to file a few more forms just to be sure they can suck a little bit more money out of a deceased person's estate.  

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Estate Planning: The difference between joint tenancy and tenancy in common | Lerners Residential Purchase & Sales

Estate Planning: The difference between joint tenancy and tenancy in common | Lerners Residential Purchase & Sales | Wright & Associates Estate Planning Newsletter | Scoop.it
Property owned by two or more people is typically owned in two ways: (1) joint tenancy or (2) tenants-in-common (also known as tenancy in common). It’s important to understand this distinction between joint tenancy and tenancy in common when planning one’s estate.
Wright & Associates's insight:

Property owned by two or more people is typically owned in two ways: (1) joint tenancy or (2) tenants-in-common (also known as tenancy in common). It’s important to understand this distinction between joint tenancy and tenancy in common when planning one’s estate.

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Distributing your estate to your heirs: The methods and the message

Distributing your estate to your heirs: The methods and the message | Wright & Associates Estate Planning Newsletter | Scoop.it
I’ve been writing about the five D’s of estate planning: define, design, document, discuss and distribute. Today, I want to finish things off by talking about distributing your estate
Wright & Associates's insight:

Do you have a will?  A power of attorney?  Are your wishes for what happens to your property after you die well (and legally) documented?  These and others are all considered part of estate planning.  For more information about preparing your estate plan, and the consequences of not preparing, contact us at info@wrightassociates.ca.

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What happens to your debts if you die suddenly?

What happens to your debts if you die suddenly? | Wright & Associates Estate Planning Newsletter | Scoop.it
For mortgages, term insurance, not mortgage insurance, is your best choice in safeguarding your assets
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The benefits of pension plans | Benefits Canada

The benefits of pension plans | Benefits Canada | Wright & Associates Estate Planning Newsletter | Scoop.it
Pensions help not only provide retirees with the financial support they need but also provide a benefit to the overall economy.
Wright & Associates's insight:

Do you have a group benefits plan at work?  Do you offer a group benefits plan for your employees?  To find out more about the cost/savings benefits of a group insurance or a group retirement savings plan or for help on setting up a group benefits plan, contact us at info@wrightassociates.ca.

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Charitable Giving and Estate Planning

Charitable Giving and Estate Planning | Wright & Associates Estate Planning Newsletter | Scoop.it
Are you considering making a charitable gift as part of your estate plan? If you are, there are a few questions to consider, including what would you like to donate, how much would you like to donate and what charitable organizations are you considering donating to?
Wright & Associates's insight:

Do you have a will?  A power of attorney?  Are your wishes for what happens to your property after you die well (and legally) documented?  These and others are all considered part of estate planning.  For more information about preparing your estate plan, and the consequences of not preparing, contact us at info@wrightassociates.ca.

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Callous Grandson Stripped of Power of Attorney

Callous Grandson Stripped of Power of Attorney | Wright & Associates Estate Planning Newsletter | Scoop.it
Callous Grandson Stripped of Power of Attorney: The post Callous Grandson Stripped of Power of Attorney appear... http://t.co/SiTc0aKoLb
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Estate Planning Metrics | Client Relations content from WealthManagement.com

Estate Planning Metrics | Client Relations content from WealthManagement.com | Wright & Associates Estate Planning Newsletter | Scoop.it
“Metrics” is a hot word these days. In the world of charitable giving, donors and philanthropic advisors are focused on finding ways to improve how they measure, evaluate and assess outcomes. Non-profit organizations are encouraged to run their operations more like for-profit
Wright & Associates's insight:

Do you have a will?  A power of attorney?  Are your wishes for what happens to your property after you die well (and legally) documented?  These and others are all considered part of estate planning.  For more information about preparing your estate plan, and the consequences of not preparing, contact us at info@wrightassociates.ca.

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News Details

News Details | Wright & Associates Estate Planning Newsletter | Scoop.it
AG Web News
Wright & Associates's insight:

Do you have a will?  A power of attorney?  Are your wishes for what happens to your property after you die well (and legally) documented?  These and others are all considered part of estate planning.  For more information about preparing your estate plan, and the consequences of not preparing, contact us at info@wrightassociates.ca.

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Things to Consider When Estate Planning

Things to Consider When Estate Planning | Wright & Associates Estate Planning Newsletter | Scoop.it
(StatePoint) You may worry about what will happen to your house and property when you’re no longer willing or able to care for it -- particularly if you own property that has special meaning to you, such as a family home or woodlands. With so many options on the table, it’s important to research the facts, make important decisions and get paperwork started.
Wright & Associates's insight:

For more information about preparing your estate plan, and the consequences of not preparing, contact us at info@wrightassociates.ca.

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Top 5 estate planning tips

Top 5 estate planning tips | Wright & Associates Estate Planning Newsletter | Scoop.it
Misha Charles Pride, an elder care attorney who runs his own practice in Portland, offers five tips, in order of importance, that Maine baby boomers can follow regarding estate planning:
Wright & Associates's insight:

For more infomation on this subject, contact us at info@wrightassociates.ca.

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Here's the key to a happy retirement

Here's the key to a happy retirement | Wright & Associates Estate Planning Newsletter | Scoop.it
Although most retirees say they have no regrets about calling time on their careers, many are financially unprepared
Wright & Associates's insight:

Start saving for retirement early. It could mean the difference between a life straight out of a commercial or a life spent mostly on the clock, worried about paying the bills.

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The most important money conversation you’re not having

The most important money conversation you’re not having | Wright & Associates Estate Planning Newsletter | Scoop.it
While death and estate planning can be a sensitive topic for families to broach, not having a plan in place can become an even bigger regret. To get started, here are three essential financial documents you need to prepare an estate plan.
Wright & Associates's insight:

No matter how uncomfortable the conversation might be, it’s among the most important ones you can have to spare your loved ones from unnecessary inconvenience while they grieve.  For a free book on how to start the conversation, contact us at info@wrightassociates.ca and we will send it out to you.

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3 estate planning mistakes | FromYourAdvisor.ca

3 estate planning mistakes | FromYourAdvisor.ca | Wright & Associates Estate Planning Newsletter | Scoop.it
Learn from these three estate-planning mistakes.
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Are banks eating estates lawyers’ lunch?

Are banks eating estates lawyers’ lunch? | Wright & Associates Estate Planning Newsletter | Scoop.it
Outdated law school curriculums are contributing to a bleak future for the trusts and estates bar, a Canadian legal futurist predicts.
Wright & Associates's insight:

Do you have a will?  A power of attorney?  Are your wishes for what happens to your property after you die well (and legally) documented?  These and others are all considered part of estate planning.  For more information about preparing your estate plan, and the consequences of not preparing, contact us at info@wrightassociates.ca.

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Wal-Mart wills: Should you trust estate planning to a big box store?

Wal-Mart wills: Should you trust estate planning to a big box store? | Wright & Associates Estate Planning Newsletter | Scoop.it
Walmart may be best known for deals on toilet paper and snack food, but the store is now also selling wills. The legal document is yours for $99. Axess Law has started offering legal documents to big-box shoppers at a … Continue reading →
Wright & Associates's insight:

Low-cost products and will kits place too much emphasis on wills being the only focal point of an estate plan.

 

What are frequently neglected by these cheap will services are RRSPs, RRIFs, TFSAs, pension plans, insurance policies, and property held in joint tenancy or tenancy in common, and how these assets are treated — how they’re transferred and taxed — differently at death.

 

Another reason to go the pro route is that the law of wills varies from province to province. Complex subtleties can render some parts of a will invalid.

 

Do you know a lawyer who could draft a will for you?  If not, call us at 1-877-242-9116 or send us an email, info@wrightassociates.ca and we can refer you to one of our trusted partners.

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Don’t wait to plan your retirement income needs

Don’t wait to plan your retirement income needs | Wright & Associates Estate Planning Newsletter | Scoop.it
Peter Watson, Dollars and Sense: Ninety per cent of Canadians plan to rely on the Canada Pension Plan (CPP) during retirement.
Wright & Associates's insight:

Do you have a plan?  Have you made any of these mistakes with your investment/retirement portfolio?  I think we can all honestly say yes.  An advisors job is not only to help set up your investment policy statement, but also to help you stay on track.  Our thoughts at Wright & Associates is that the investment isn’t the main part of returns, it is sticking to your plan that makes returns better.  Contact us today at info@wrightassociates.ca to find out more about how we can help you with your current portfolio.

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Five ways to avoid a family blowout after you’ve died

Five ways to avoid a family blowout after you’ve died | Wright & Associates Estate Planning Newsletter | Scoop.it
You won’t be around to witness the drama, here are five ways to avoid a Dynasty-worthy brawl over your estate after you've died
Wright & Associates's insight:

Do you have a will?  A power of attorney?  Are your wishes for what happens to your property after you die well (and legally) documented?  These and others are all considered part of estate planning.  For more information about preparing your estate plan, and the consequences of not preparing, contact us at info@wrightassociates.ca.

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3 Important Estate Planning Questions - US News

3 Important Estate Planning Questions - US News | Wright & Associates Estate Planning Newsletter | Scoop.it
Make sure your spouse knows your financial advisor and account information before you pass.
Wright & Associates's insight:

Do you have a will?  A power of attorney?  Are your wishes for what happens to your property after you die well (and legally) documented?  These and others are all considered part of estate planning.  For more information about preparing your estate plan, and the consequences of not preparing, contact us at info@wrightassociates.ca.

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Carefully consider changes to your estate plan during or after divorce

March 28, 2014 /24-7PressRelease/ -- When going through a divorce, it may feel like your life is completely changing. Many things may feel uncertain, and the amount of time and attention you have to spend on paperwork and details may leave you feeling overwhelmed.
Wright & Associates's insight:

Do you have a will?  A power of attorney?  Are your wishes for what happens to your property after you die well (and legally) documented?  These and others are all considered part of estate planning.  For more information about preparing your estate plan, and the consequences of not preparing, contact us at info@wrightassociates.ca.

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What is Mine Might Not be Yours: Estate Planning Consideration for Blended Families | The National Law Review

What is Mine Might Not be Yours: Estate Planning Consideration for Blended Families | The National Law Review | Wright & Associates Estate Planning Newsletter | Scoop.it
Post-divorce, many Canadians are lucky enough to find second relationships, whether it is cohabiting leading to a common law partnership or another trip down the aisle. According to a 2011 census data release by Statistics Canada, blended families (where one or both spouses have children from previous relationships) have become a national norm, representing about one in eight couples’ families with children.
Wright & Associates's insight:

Do you have a will?  A power of attorney?  Are your wishes for what happens to your property after you die well (and legally) documented?  These and others are all considered part of estate planning.  For more information about preparing your estate plan, and the consequences of not preparing, contact us at info@wrightassociates.ca.

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Power of Attorney Kit - Ministry of the Attorney General

“At some point in your career, you will encounter a situation where a Continuing Power of Attorney (CPOA) is being... http://t.co/AsDP8kLBWD”;
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Estate planning: Priorities following the passing of a spouse

Estate planning: Priorities following the passing of a spouse | Wright & Associates Estate Planning Newsletter | Scoop.it
Coping with the loss of a partner may be one of the most difficult things many of us will ever face. Here are the top 10 priorities following the passing of a spouse.
Wright & Associates's insight:

For more information about preparing your estate plan, and the consequences of not preparing, contact us at info@wrightassociates.ca.

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