Most couples at some point contemplate the purchase of their first home together. Some are extremely fortunate to be able to contribute equally to the purchase and live in financial, harmonious bliss. Others (more commonly) contribute unequal amounts and run the risk of future uncertainty around the protection of their respective investments or a difference of opinion about whether their future contributions to the household are recognized if the releationship breaks down.
There have always been couples who divorce later in life. But with an aging baby boomer population approaching the age of retirement, there has been an increase in what has been dubbed “grey divorces”.
According to a recent article in Law Times, there are different complexities to divorcing later in life. One aspect of the divorce process most older couples can avoid are proceedings related to child custody and child support. For most older couples, their children have reached adulthood and have started families of their own. This means the parents may not need to interact with each other again if they should so choose. They may have to see each other at certain family milestones with their children and grandchildren, but that would be at their discretion.
Thinking about a will can be a difficult process. It means thinking about what would happen to your spouse or partner, children, grandchildren, siblings and family and friends when you pass away. While difficult to think about, it’s also a crucial way to ensure that your wishes concerning your surviving family and friends, are met. Clear directions on how to provide for spouses, adult children and their families, and how you wish to divide your estate can help your family avoid the complications that can arise if your will is vague, or you pass away without a will.
In an article posted by the Canadian Red Cross, there are a couple of items that people should think about carefully when they decide to plan out their estate. Because planning an estate can be a complex process, it’s best advised to discuss these topics with an experienced estate planning lawyer. He or she will be able to help you plan out decisions and directions that are clear, and make sense for your family.
Common-law couples do not have the same rights as married couples. If your common-law partner passes away without a will, you may not have many legal options at your disposal to protect your rights to his or her estate. It’s important to understand the options you can pursue in this situation, and to discuss them with your partner as you plan your wills to make sure each of you is protected.
As outlined on s Steps to Justice page, there are a couple of alternatives that a surviving partner can look into. Below is a very brief summary of your options. For more information, it’s best advised to consult a legal professional to find out how these options may be applied to your specific situation.
There are many different way to share ownership of an asset with another person.
In a "joint tenancy" situation, two or more people own property together and if one person dies, the surviving owner(s) automatically acquires the ownership share of the deceased person. This means that no part of the property falls into the estate of a deceased joint owner until the last owner dies.
On July 1st, 2018, the first set of changes to the Ontario Construction Lien Act came into effect, the first being its new name, the Construction Act.
Maybe you've been dreaming of leaving the city's frenetic pace behind for retirement in the country. Or you've recently begun to hear the siren's call of condo living beckoning you to scale back.
As retirement gets closer, kids grow up, and lifestyles change, people tend to think about what's next. For a lot of us, that means packing up the family home and finding a spot to live happily ever after. While it can be a lot of fun to envision your retirement pad, there's a lot to consider before making the move. Whatever the reason, if you're thinking about downsizing, we're here to help.
This is one of my favourite songs by Death Cab for Cutie-a mournful composition of a last vigil. Unlike my musician spouse, poignant lyrics will draw me into a song much more quickly than the accompanying musical score. And my pull to this particular song has become even stronger lately as I spend more and more time with clients in urgent and palliative care.
On Friday we wished our estates clerk, Janet Song, farewell (mostly).
In this day and age, not even landing on the moon can protect someone from apparent elder abuse.
Edwin E. (Buzz) Aldrin is suing two of his children and a former manager. The famous astronaut is accusing them of mismanaging his business affairs and of slandering him by claiming that 88-year-old Aldrin has dementia.