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Toronto Ontario Estate Law Blog
Digital Assets: Modern Realities Versus Lagging Legalities
Our digital asset inventories – electronic tools, digital currencies, files, and various online accounts – continue to grow. Five years ago, the McAfee Digital Assets Survey estimated that Canadian consumers valued their digital assets at over $32,000 per person, which is not an insignificant matter from an estate administration perspective,
2018 Update on the UN Convention on the Rights of Older Persons
December 10, 2018 marks the 70th anniversary of the Universal Declaration of Human Rights which was a milestone in 1948 for protecting human rights. Surprisingly, older persons are not yet expressly identified as a protected group under international human rights laws. In acknowledgment of the Declaration, the UN International Day
The Fine Art of Cottage Co-Ownership
“When people are divided, the only solution is agreement.” John Hume Since we are all human, where there’s family, sooner or later there’s friction. Unfortunately, all too often the family cottage can become the source of such friction. Everyone has probably heard at least one unfortunate story about family members
Update on the European Succession Regulation – What Every Canadian with EU Connections Needs to Know
It’s been almost three years since our last blog on the European Succession Regulation. It seems timely to check the pulse and see what impact it is having on estate planning and administration. As a refresher, the Regulation came into effect on August 17, 2015 and applies to all European
Appointing an Executor Under a Will: A Modern-Day Dilemma
Earlier this week, O’Sullivan Estate Lawyers participated as one of the gold sponsors of the STEP Canada (the Canadian branch of the Society of Trust and Estate Practitioners) 20th National Conference in Toronto, which annually brings together trust and estate specialists from across Canada and other countries to share knowledge
Never Too Young To Start: Estate Planning
Millennials are a loosely defined group of people (those born approximately between 1981 to 2001) who are now beginning to enter the workforce and acquire their own assets. With an aging population it is inevitable that there will be a significant wealth transfer between baby boomers and millennials over the
Children, Equality and Inheritance: Your Final Legacy
On May 4, 2018, we celebrate our firm’s 20th anniversary. I thought it would be fitting as well as helpful to reflect on one of the most challenging questions in family succession: whether children should be treated equally. Being a trust and estate lawyer now for over thirty-five years has
Someone To Watch Over You
Not to beat a dead horse, but it bears repeating: our population is aging. With an increase in the number of people in our society over 65 comes a variety of social and economic challenges, some of which you are no doubt already familiar with. One issue which many people
The Rule Against Perpetuities: A Dying Relic
The Rule Against Perpetuities (the “Rule”) is an old and complex legal rule that aims to prevent the delay of vesting of many types of transferred property interests beyond the “Perpetuities Period” and is the bane of many lawyers who draft wills and trusts. A property interest vests when it
Misuse and Abuse of Powers of Attorney – Why Law Reform is Necessary
Having a power of attorney for property is a document we continually recommend to clients who are in the process of updating their estate plans. The purpose of a power of attorney for property is to give a named individual (the “attorney”) the authority to act on behalf of the