Relocating to a new province or country can have significant legal implications for your estate plan. This article explores when and why you may need to update your will after a move, along with key considerations for cross-jurisdictional estate planning. 26 Sep

Can Moving Affect the Validity & Effectiveness of Your Will?

Navigating international probate involves complex laws, tax issues, and cross-border estate challenges. Here is what families and heirs need to know... 23 Sep

Frequently Asked Questions About International Probate

Baby boomers are set to give a staggering $124 trillion through 2048 to heirs, according to market researcher Cerulli Advisors in a 2024 report. But are the next generations prepared to accept it or will they become “shirtsleeves to shirtsleeves in three generations”? 18 Sep

Is the Inheriting Generation Prepared for “The Great Wealth Transfer”?

In Canada, most trusts are separate legal entities taxed under strict rules in the Income Tax Act. Proper structuring is essential to reduce tax and avoid reporting issues. Regular reviews with your accountant and estate planning lawyer help prevent surprises. 14 Aug

Taxation of Trusts in Canada: How Does it Work?

Losing a loved one is never easy. What makes it even harder is when this loss is compounded by uncertainty about what happens to their debts... 10 Aug

Are You Responsible for a Deceased Loved One’s Debt in Canada?

Minimizing taxes on Estates can go a long way in providing maximum benefit to the heirs and reducing their financial burden. However, it takes timely planning and exploration of a variety of strategies. Here are some longstanding tips and tricks for this purpose. 30 Jul

What Can I Do To Minimize Estate Taxes in Canada?

Is Inheritance Considered Marital Property in Canada? 25 Jul

Is Inheritance Considered Marital Property in Canada?

What is a Trust and Estate Planning Practitioner (TEP)? 22 Jul

What is a Trust and Estate Planning Practitioner (TEP)?

Understand the critical differences between estate tax and inheritance tax. This guide explores both tax types, their crucial distinctions, and strategic planning approaches to potentially minimize their impact, helping you preserve more of your legacy for loved ones rather than tax authorities. 22 Jul

Inheritance Tax vs. Estate Tax: What’s the Difference?

Here’s a list of Frequently Asked Questions (FAQ) that BAO staff regularly receive in phone calls and emails. Have a question we haven’t answered here? Please ask your question by email... 21 Jul

Bereavement Authority of Ontario: Answers to FAQs for Families

Acting as an Estate Trustee can be challenging. It is important to appoint an individual who is responsible and reliable to fulfil this role as they have a fiduciary responsibility to the beneficiaries. 18 Jul

What is an Estate Trustee? What are their Responsibilities?

DIY estate planning, while seemingly straightforward with online templates and software, often falls short of providing adequate protection and may lead to significant problems during estate administration. 11 Jul

Frequently Asked Questions About “DIY” Estate Planning