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Making a Will When you have Foreign Assets

2/20/2023

Making a Will When you have Foreign Assets
Many Canadians have assets in other provinces and in other countries. Whether its a winter home in Florida, a cottage in Quebec, or a bank account in Europe, you want to ensure that your will is sufficient to cover your assets outside the Province of Ontario. Foreign jurisdictions may not accept your Ontario will or other estate planning documents.

A common solution is to make multiple wills for different provinces and countries. You should consult a lawyer licensed to practice in those jurisdictions to ensure that your will complies with local laws.

We can guide you through the issues related to foreign property. Reach out to us by phone or email for a complimentary consultation about your estate planning goals.

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Consider a "Henson Trust" to provide for a disabled beneficiary:

2/20/2023

Consider a "Henson Trust" to provide for a disabled beneficiary
Important information to consider about "Henson Trusts":

The trustee has full discretion over trust property and payments to the beneficiary;
The beneficiary cannot force the trustee to make payments out of the trust and cannot unilaterally dissolve the trust;
Since the beneficiary has no entitlement to receive property from the trust, the trust is not generally treated as an asset of the beneficiary;
Therefore, this type of trust is an effective way to provide for a disabled person without jeopardizing their eligibility for social assistance benefits.

To determine if a "Henson Trust" is appropriate in your circumstances, reach out to us by phone or email for a complimentary consultation.

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Is Mediation Right for My Divorce?

2/20/2023

Is Mediation Right for My Divorce?
Mediation can be an affordable and effective alternative to litigating your divorce issues. It is non-binding, meaning that the mediator cannot force a solution on the parties. Instead, the mediator will help the parties to assess their legal positions and the potential outcomes if the parties go to trial. Divorce is often an emotionally charged experience which can be a barrier to resolving the matter in a timely and affordable manner. But, a good mediator can help find common ground between the parties and focus their attention on finding a solution. When choosing a mediator, consider the following:

Cost and Availability: Its important to select a mediator who is available when needed and is within your price range;
Experience: You want to choose a mediator who specializes in family law matter and is familiar with the types of issues that are commonly encountered in divorce cases;
Reputation: Ask for recommendations from family, friends, and your lawyer. Ultimately, you want a mediator with a reputation for being fair and impartial.

Keep in mind that mediation will only work if both sides actually want to reach a resolution. If one side seeks to "destroy" the other, then mediation may not be the right alternative. To determine if mediation is appropriate in your circumstances, reach out to us by phone or email for a complimentary consultation.

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Making a Will When you have Foreign Assets

Consider a "Henson Trust" to provide for a disabled beneficiary:

Is Mediation Right for My Divorce?

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