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Get a clear, concise guide detailing all the steps you need to take to pass on and plan your estate.
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Be aware that you can determine in your will the age at which your heirs, including your children, will be able to receive their share of inheritance. The distribution period may even be spread over several years.
When funeral pre-arrangements have already been made, it is best to leave written instructions to this effect or mention them in your will.
Did you know that there is a register for prearranged funeral contracts?The Civil Code of Quebec contains provisions governing the distribution of property of a person who died without a Will, by first giving priority to the closest relatives of the deceased, then gradually including more distant relatives of the deceased. All these provisions are known as the legal devolution.
The Civil Code of Quebec contains provisions governing the distribution of property of a person who died without a will, by first giving priority to the closest relatives of the deceased, then gradually including more distant relatives of the deceased. All these provisions are known as the legal devolution.
The Civil Code of Quebec contains provisions governing the distribution of property of a person who died without a Will, by first giving priority to the closest relatives of the deceased, then gradually including more distant relatives of the deceased. All these provisions are known as the legal devolution.
The Civil Code of Quebec contains provisions governing the distribution of property of a person who died without a Will, by first giving priority to the closest relatives of the deceased, then gradually including more distant relatives of the deceased. All these provisions are known as the legal devolution.
If you are thinking about starting a business, ...
visit our legal guide for starting a businessThe Trust will is a legal instrument by which a person, the testator, transfers, upon his death, his property into another partimony that he creates (trust estate). The trustee will manage the property in accordance with the provisions of the trust will and in the best interest of the beneficiaries.
The creation of a testamentary trust may be appropriate in the following cases:
Note that it is important for the heirs of a member of a professional body to ensure that errors and omissions liability insurance be maintained even after the death of the latter.
Did you know that, if you are a business owner, you can designate in your will the person who will be able to take over and ensure the operation of your business?
If you have already made funeral pre-arrangements, it is best to leave written instructions to this effect or mention them in your will.
Did you know that there is a register for prearranged funeral contracts?To avoid any possible issues when buying a property jointly with other people, it is useful to sign an indivision agreement among joint purchasers or co-buyers.
The cohabitation agreement is a legal document by which you can particularly set out, on a contractual and consensual basis:
You are thinking about buying a property, we can help you!
Click here to view our legal guide for a real estate purchaseA spouse, to protect his/her rights, may, if desired, register a declaration of family residence pursuant to the Civil Code of Quebec.
Common-law partners or de facto spouses are free to enter into agreements among themselves in order to specifically agree on what rights and obligations will flow as a result of their relationship and the possible end of their relationship. Obviously taking into account public policy rules, common-law spouses can create written contracts or agreements to protect their rights while they are in a relationship and upon the end of their relationship.
This guide is intended for adults.
The masculine form is used herein for the sole purpose of brevity and no discrimination is intended.
If you contribute to a TFSA, you:
If you leave your RRSP to a relative other than your spouse, the amount accrued in your RRSP will then be taxed as if you had cashed it in the year of your death
If you contribute to a RRSP, you will:
In order to provide financial protection for your loved ones, you can take out a life insurance policy which will enable you to leave a substantial non-taxable inheritance to your family members.
The Civil Code of Quebec grants the surviving spouse no right in the property of a deceased common-law partner/de facto spouse. This means that, regardless of the number of years of life together, the surviving spouse will inherit the property of a deceased common-law partner/de facto spouse only if a Will was made to his/her benefit.
Learn more about the rights of common-law partners/de facto spousesPrior to the signing of a "mandate", it is best to always ask the persons you wish to appoint as your mandataries if they would agree to act as such in the event of your incapacity.
In case of your incapacity, and if you want your mandatary to use your assets to address the ongoing needs of your spouse and children and ensure their welfare, you must expressly specify such use in your protection mandate in case of incapacity.
In case of your incapacity, and if you want your mandatary to use your assets to address the ongoing needs of your spouse and ensure his/her welfare, you must expressly specify such use in your protection mandate in case of incapacity.
In case of your incapacity, and if you want your mandatary to use your assets to address the ongoing needs of your children and ensure their welfare, you must expressly specify such use in your protection mandate in case of incapacity.
Did you know that, if you are a business owner, you can appoint, in your protection mandate in case of incapacity, the right person to take over or carry on your business, or even to liquidate or sell your business?
To avoid hassle to the mandatary to property of an incapacitated person and to preserve the confidentiality of the deceased's life, some approaches are currently available on the Web, even if they are not perfect or not entirely problem-free:
The contents of a wealth inventory and assessment worksheet should reflect, as accurately as possible, the current situation of your wealth, namely the information and location of your assets and your liabilities as well as an overview allowing you to determine the value of your wealth.
This document allows you
Why not apply for disability insurance? There are disability buy-sell insurance or critical illness insurance which allow the beneficiary of such insurances to withdraw a cash amount which can be used to pay for the shares of a shareholder becoming seriously ill or disabled.
To avoid hassle to the mandatary to property of an incapacitated person and to preserve the confidentiality of the deceased's life, some approaches are currently available on the Web, even if they are not perfect or not entirely problem-free:
Did you know that, if you are a business owner, you can appoint, in your protection mandate in case of incapacity, the right person to take over or carry on your business, or even to liquidate or sell your business?
In the event of your incapacity, your mandatary could allow your children to use your assets for their own welfare, but only if it was provided for in your protection mandate in case of incapacity.
In the event of your incapacity, your mandatary could allow your spouse to use your assets for his/her own welfare, but only if it was provided for in your protection mandate in case of incapacity.
In the event of your incapacity, your mandatary could allow your spouse and your children to use your assets for their own welfare, but only if it was provided for in your protection mandate in case of incapacity.
Prior to the signing of a "mandate", it is best to always ask the persons you wish to appoint as your mandataries if they would agree to act as such in the event of your incapacity.
Why not take out life insurance and/or RRSPs? You can create wealth to pass down to your heirs or preserve your existing assets.
In this way, you minimize the interest costs pertaining to your transactions.
The contents of a wealth inventory and assessment worksheet should reflect, as accurately as possible, the current situation of your wealth, namely the information and location of your assets and your liabilities as well as an overview allowing you to determine the value of your wealth.
The Trust will is a legal instrument by which a person, the testator, transfers, upon his death, his property into another partimony that he creates (trust estate). The trustee will manage the property in accordance with the provisions of the trust will and in the best interest of the beneficiaries.
The creation of a testamentary trust may be appropriate in the following cases:
Did you know that, if you are a business owner, you can appoint in your will the right person to take over or carry on your business, or even to liquidate or sell your business?
We hope that this information will help you take the proper steps for the purchase of a real estate property and that your purchase will be made in the best possible conditions.
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