Wills Archives - De Krupe Law

09 September

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Transferring TFSA to Spouse After Death: The Essentials

When thinking about the future, it’s important to not only save some funds, but think about what happens to them after your passing. How can you make sure your TFSA transfers to your spouse in case of death? In this article, we'll walk you through all the key steps to ensure that your hard-earned savings continue to benefit your loved ones as you intended. What Is a TFSA? TFSA stands for Tax-Free Savings Account and is a method to save some funds aside popular among many Canadians. As stated in its name, the main advantage of this option is that, unlike an...

28 August

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Drafting a Will Without Hassle: Gifting Assets Before Death in Canada, 2024

Posted by Daniel Simard

in Blog, Wills

DeKrupe Law professional wills and estate lawyers and toronto real estate lawyers

Thinking beforehand about the destiny of your assets is a smart way to live stress-free, knowing that your property and money will be handed down to your family legally. Lawyers take the burden off your shoulders, arranging all necessary details in time when you can do it at your own pace and without pressure. Neglection of the testament may leave your loved ones confused and in tension, relying on the rules of the Succession Law Reform Act. If a person doesn’t appoint a legal executor, though law in Canada doesn't require such for the will, after the person passes without the correctly...

14 August

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How To Make a Will Without a Lawyer

Posted by Daniel Simard

in Blog, Wills

Composing a will doesn’t sound like something you can manage on your own, but this isn’t always the case. There are ways to make a will without a lawyer‘s involvement in Canada. It might seem like a more stressful way to manage your property, but it is suitable for some individuals, and will help save time and money. We will cover all the options you have when it comes to making a will without a lawyer’s guidance, the requirements you need to be conscious of and pitfalls to be aware of beforehand. Do You Need a Lawyer to Make a Will? Preparing...

31 July

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Legally Valid Will in Canada: Requirements

Posted by Daniel Simard

in Blog, Wills

A legally valid Will in Canada is an big part of successful estate planning. It true that it you might not really need it if you don’t have many assets to distribute, but it's vital when the inheritance is bigger than average (>$50,000). In this case, a Will properly distributes your legacy in accordance with your wishes. It also makes the future easier and more certain for those you leave behind. Spend a bit of time and effort to learn legally valid Will requirements now to save much more in the future. What Are the Requirements for a Will to be Valid...

04 June

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Not Really Anyone: Who Can Witness a Will in Ontario?

Posted by DeKrupe

in Wills

A witness signing a will in Ontario, Toronto, in a lawyer's office

So you wonder, who can witness a will in Ontario. Most likely, the shortest answer you can get is “anyone, as long as they’re not beneficiaries or their partners”. And it would be right in most circumstances but it’s definitely not all there is to know. The subject matter is rather complex, though easy to dissect once we apply current laws and our practice. Here is all you may need to know about will witnesses to secure the integrity of your last wishes. Who can witness a will in Ontario? No long introductions. In accordance with the Succession Law Reform Act, “a competent...

29 February

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Why Safe Deposit Box Is Essential?

Posted by Daniel Simard

in Blog, Contracts, Family Law, Real Estate, Wills

Often placed within the fortified walls of banks or special secure facilities, these boxes offer people a safe place to store important documents and valuables. The main feature of a safe deposit box lies in its simplicity. A physical lock and key shielding one's possessions from theft, loss, or damage. Yet, despite this simplicity, choosing the right safe requires an understanding of various factors such as size, ease of access, cost and level of protection. Locking Your Doors at Night Isn't A Last Resort Safe deposit boxes offer a high-security option for storing valuables. Banks provide these secure containers within their vaults. The...

13 August

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Powers of Attorney

Posted by DeKrupe

in Wills

Power of Attorney for Property A continuing power of attorney for property will continue even if the person granting it becomes legally incapacitated for health reasons. It must be in writing and witnessed by two persons. In order for it to be a continuing power of attorney it must state so. It is deemed to be in effect as soon as it is executed unless the grantor instructs otherwise in writing in the actual Power of Attorney...

13 August

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Wills

Posted by DeKrupe

in Wills

Requirements of Wills In Writing A will has to be in writing, typed or hand written. A tape-recorded or videotaped will is not valid. Signed by the Testator A will has to be signed by the person making the will. If a person is unable to sign with his own hand he can direct another to do so in his or her presence, in this case testator must acknowledge in the presence of...