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During Hull on Estate and Succession Planning Podcast #67, Ian and Suzana discuss the topic of Probate. They throughly explain the concept and cover the different roles that Probate can play in a successful succession plan.
Listen to "Estate Litigation and NYC Socialite Queen Brooke"
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During Hull on Estate and Succession Planning Podcast #66, Ian and Suzana discuss the conference that Ian recently attended, Podcasters Across Borders, where he spoke on a panel with Terry Fallis of Thornley Fallis, and Kate Morgan of Podwise Social Media Inc.
Within the context of estate litigation, Ian discusses a recent article he read in the June 6th edition of The Economist that considered the life of a New York City socialite, Brooke Astor, commonly known as Queen Brooke. Ian reviews the dramatic story of her life, and the litigation surrounding her loss of capacity and her second marriage.
Listen to "Powers of Attorney: Planning for Incapacity"
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During Hull on Estate and Succession Planning Podcast #65, Ian Hull and Suzana Popovic-Montag discuss the importance of designating a Power of Attorney in your estate plan.
They cover topics such as why a Power of Attorney is essential and what can happen if an incapable individual does not have a Power of Attorney in place, focusing on the Court Order process to obtain a Power of Attorney for property and/or personal care.
Listen to "Powers of Attorney and Elder Abuse"
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During Hull on Estate and Succession Planning Podcast #64, Ian Hull and Suzana Popovic-Montag express the importance of educating an individual chosen as Power of Attorney on their roles and responsibilities, as well as full disclosure between all parties involved in the estate planning.
They also discuss the issue of duelling Powers of Attorney during the succession planning process and the strategy of using Power of Attorney for limited purposes.
Ian and Suzana also touch on the problem of elder abuse and mentioned the helpful emergency hotline provided by the Public Guardian and Trustee at 1-800-366-0335.
Listen to "Powers of Attorney Defined"
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During Hull on Estate and Succession Planning Episode 63, Ian Hull and Suzana Popovic-Montag discuss the role of Powers of Attorney during the estate planning process.
They define "Power of Attorney", and cover the responsibilities that accompany this role. The steps to take if you decide to revoke your Power of Attorney are also discussed, as well as the regulations of the Substitute Decisions Act which sets out some of the duties involved in Power of Attorney
Listen to "The Distribution of Assets"
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In Episode #62, Ian and Suzana discuss the treatment of assets in second marriages with children. They cover the necessity of proper communication and documentation of intent, as well as the impact of the Succession Law Reform Act over the distribution of assets.
Ian and Suzana also discuss the strategy of using trusts to pass on assets in a controlled and managed way to desired beneficiaries.
Listen to "Using Insurance Instruments for Effective Succession Planning"
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During Hull on Estate and Succession Planning Episode #60, Ian and Suzana discuss how term policies and whole life policies can apply to succession planning.
They cover three important aspects to consider when reviewing your insurance policies, especially in a separated spouse situation including the funding of support obligations, the designation of the policy's beneficiaries, and how the policy will be funded after death.
Listen to "Joint Accounts"
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During Hull on Estate and Succession Planning Podcast Episode #60, Ian and Suzana discussed a recent case, Pecore v. Pecore, 2007 SCC 17, from the Supreme Court of Canada. This decision concerned the issue of jointly held accounts.
Ian and Suzana discussed the consequences of joint accounts for adult children, minor children and dependent adult children.
Listen to "Separation Agreements in the Context of Estate Planning"
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During Hull on Estate and Succession Planning Podcast #59, Ian and Suzana discuss Separation Agreements and the general elements of estate planning upon separation from a spouse.
They cover many important aspects of a separation agreement that should be considered when turning your mind to estate planning, including joint assets, joint debts, property, and disability planning.
Listen to "Separated Spouses and Estate Planning Issues"
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During Episode #58, Ian and Suzana discuss estate planning and separated spouses including the equalization process, the importance of valuation on the day of separation, and how issues of spousal support and child support can dovetail into estate planning.
Suzana mentions the case of A.A. v. B.B., 2007 ONCA 2 from the Ontario Court of Appeal, wherein a child may have three parents.
Listen to "Tax Considerations for Separated Spouses"
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During Hull on Estate and Succession Planning Podcast #57, Ian Hull and Suzana Popovic-Montag discuss tax considerations to keep in mind within the context of separated spouses.
They cover such issues as tax liability, spousal support and child support deductability and the deductability of legal fees.
Listen to "Estate Planning Issues for Separated Couples"
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During Hull on Estate and Succession Planning Podcast #56, Ian and Suzana discuss the circumstances surrounding separated couples, remarriage and common law separations.
They discuss the impact that these separations have on estate planning including financial, tax and property ownership considerations.
Listen to "Insurance Planning"
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During Hull on Estate and Succession Planning Podcast #55, Ian and Suzana discuss insurance planning in the context of wealth and estate planning strategies.
They cover the advantages of integrating insurance policies into your estate plan focusing on disability insurance, critical care insurance and life insurance.
Listen to "Estate Planning Considerations in the Context of Married and Unmarried Spouses"
During Hull on Estate and Succession Planning Episode #54, Ian and Suzana discuss how to avoid Will drafting problems when creating beneficiary designations for insurance trusts.
They also discuss the importance of including funeral arrangements in your Will, and the various Provincial approaches to the revocation of wills after marriage and after a divorce.
Listen to "Beneficiary Designation Considerations for Spousal Trusts"
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During Hull on Estate and Succession Planning Episode #53, Ian Hull and Suzana Popovic-Montag build on their last podcast regarding succession planning for married couples, and turn their focus to spousal trusts.
They discuss administrative expenses surrounding trusts, the circumstances that lead to surviving spouse litigation, and methods for ensuring the balance between beneficiary designations.
Listen to "The Necessity of a Will in Successful Succession Planning"
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During Hull on Estate and Succession Planning Episode #52, Ian Hull and Suzana Popovic-Montag discuss the importance of having a Will in succession planning.
They cover a range of necessary Will provisions including:
Listen to "Domestic Contracts and Disability Planning"
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During Hull on Estate and Succession Planning Episode #51, Ian Hull and Suzana Popovic-Montag discuss estate planning for married spouses and common law relationships. They focus specifically on the nature and consequences of domestic contracts, their provision in Section 63 of the Succession Law Reform Act and the importance of full disclosure.
Ian and Suzana also discuss disability planning and the importance of naming a Power of Attorney for property and personal care.
Listen to "More Tips for Protecting Your Children's Inheritances"
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During Hull on Estate and Succession Planning Podcast #50, Suzana Popovic-Montag and her guest, Jordan Atin continue their discussion on how to protect your children's inheritances, focusing on strategies to ensure that your chosen beneficiaries do in fact receive the assets left to them.
Listen to "Protecting Your Children's Inheritance"
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During Hull on Estate and Succession Planning Podcast #49, Suzana Popovic-Montag and Jordan Atin discuss considerations and techniques to ensure the proper use of inheritances. Some of these techniques include staggered inheritances, incentive trusts and charitable foundations.
Listen to "Tips for Hiring an Estate Lawyer"
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During Hull on Estate and Succession Planning Episode #48, Ian Hull and Suzana Popovic-Montag speak with Jordan Atin, co-author of a recently published book on avoiding Estate litigation, The Family War. The three succession planning experts discuss considerations when hiring an estate lawyer to draft your will.
The necessary processes are reviewed including getting a referral, answering questions regarding your specific needs and assets, full disclosure, confidentiality and finally the importance of reviewing and signing your completed will.
During Hull on Estate and Succession Planning Episode #47, Ian and Suzana review four possible flash points to keep in mind when dealing with family law issues. These topics include the family business, the matrimonial home, the treatment of debt and the domestic and family contract.
Ian and Suzana specifically discuss the legal effects of the domestic and family contract upon death and support considerations reviewing the Succession Law Reform Act, Section 62 and 63.
During Hull on Estate and Succession Planning Episode #46, Ian and Suzana discuss various family law topics which facilitate the creation of a successful estate plan. They focus on "Sweetheart Wills", property analysis, constructive trusts, and the importance of transparency and dialogue especially when dealing with blended families.
During Hull on Estate and Succession Planning Episode #45, Ian and Suzana discuss various considerations that must be taken into account before the drafting of an Estate plan and Will takes place.
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During Episode #44, Ian and Suzana discussed last week's blog entries by Sean Graham, continued their look at Estate and Wealth Planning focusing on Disability planning (see Paul Trudelle's blog entries on the Ontario Disability Support Program) as well as the necessity for Wills and Power of Attorney.
During Episode #43, Ian and Suzana discussed estate planning with a focus on financial topics such as tax planning, multiple will scenarios and family law issues.
During Podcast # 42, Ian and Suzana discussed the concept of the Family Office and its primary objectives, including:
During Hull on Estate and Succession Planning Podcast #41, we discussed the institution of the family constitution and the issues to consider after its institution including Power of Attorney, Wills and other documentation.
During Hull on Estate and Succession Planning Episode #40, Ian and Suzana discussed issues surrounding the conclusion of the Family Conference, including tax matters, unapproving family members, implementing drafts and bullet-proofing your estate plan.
During Hull on Estate and Succession Planning Episode 39, we continued our discussion on the Family Conference, focusing on the actions to be taken in regards to non-participating family members. We also discussed the importance of documentation and defined will challenges.
During Hull on Estate and Succession Planning Episode 38, we discussed the process for ensuring a successful family conference including:
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During Hull on Estate and Succession Planning Episode 37, we discussed the steps that are followed during a Family Conference including:
During Hull on Estate and Succession Planning Episode 36, we discussed:
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During Hull on Estate and Succession Planning Podcast #35, we discussed:
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During Hull on Estates and Succession Planning Episode #34, we continued to discuss the need for full disclosure during the Family Conference process detailing specific situations including:
We also discussed Family Law concerns such as children's spouses and family businesses.
During Hull on Estate and Succession Planning Podcast #33, we discussed the Family Conference and the need for full disclosure of:
We also provided an illustration of how to work through a Family Conference.
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During Hull of Estate and Succession Planning Episode 32, we continued to discuss the Elder Law Conference with an emphasis on what the Canadian Centre for Elder Law Studies is currently working on, highlighing their past work and discussing its mission of enriching and informing the elderly in the law.
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During Hull on Estate and Succession Planning Episode 31, we discussed the various aspects of the Canadian Conference on the Elderly presented by the Canadian Centre for Elder Law including how the Courts are dealing with elder law and elder law situations.
During Hull on Estate and Succession Planning Episode 30, we discussed our attendance at the Calgary STEP Seminar, the family meeting and the process followed during the family meeting and we discussed the new book by Jordan Atin, Barry Fish and Les Kotzer entitled "The Family War, Winning the Inheritance Battle".
During Hull on Estate and Succession Planning Podcast #29 , we discussed the need for disclosure of all financial information during the family conference.
During Hull on Estate and Succession Planning Episode 28, we discussed:
During Hull on Estate and Succession Planning Episode 27, we continued our discussion on the family conference solution. We focused on how to choose the appropriate Chairperson of the conference, how to choose an appropriate mediator and discussed agenda flexibility.
During Hull on Estate and Succession Planning Podcast #26, we discussed the importance of preparing an agenda for the family conference. --------
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During episode #25 of Hull on Estate and Succession Planning, we continued our discussion on the family conference solution with a focus on whom to invite to the conference and where it should be held.
During Hull on Estate and Estate and Succession Planning Podcast #24, we continued our summary review of the Family Conference Solution with an emphasis on the importance of disclosure.
During Hull on Estate and Succession Planning Podcast #23, we introduced the Family Conference Solution.
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During Hull on Estate and Succession Planning Podcast #22, we continued our discussion on the stages of the legal process and its costs. The last three of the six stages were noted as follows:
4) Pre-trial conference;
5) Trial;
6) Appeal.
We also discussed the importance of mediation to legal and estate matters.
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During Hull on Estate and Succession Planning Podcast #21, we discussed 3 of the 6 stages of the legal process surrounding Estate Litigation. These stages are as follows:
1) Order organizing the Litigation;
2) Collecting and Disclosing Evidence and;
3) Discoveries.
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During Hull on Estate and Succession Planning Podcast #20, we wrapped up our analysis of the 10 causes of Estate Litigation and discussed Breach of Contract and Constructive Trust Claims.
During Hull on Estate and Succession Planning Podcast #19, we reviewed the frequent causes of Estate litigation, discussed Dependent Relief Claims and looked more intensely at Family Law Entitlements.
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In Hull on Estate and Succession Planning Podcast #18, we discussed three more frequent causes of estate litigation:
1) Poorly drafted documents;
2) Lack of sufficient planning for the estate assets;
3) Improper actions of the trustee or executor.
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During Hull on Estate and Succession Planning Episode 17, we continued our discussion on the causes of Estate Litigation. Four more causes were established as:
1) The reluctance to seek advice;
2) Acrimonious extended family;
3) Frailties and secrets;
4) Intransigent family members.
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During Hull on Estate and Succession Planning Podcast #16, we discussed 3 of the 10 causes of estate litigation. The 3 causes discussed are as follows:
1) A lack of understanding on the need for an estate plan;
2) An estate plan which is no longer current;
3) Inadequate estate planning advice.
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In Hull on Estate and Succession Planning Podcast #15, we continued with our discussion on Powers of Attorney for Property, from both a non-contentious and contentious perspective, and we discussed Powers of Attorney for Personal Care as well.
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During Hull on Estate and Succession Planning Podcast #14, we discussed Powers of Attorney. ------
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During Hull on Estate and Succession Planning Podcast #13, we discussed Estate freezes.
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In Hull on Estate and Succession Planning Podcast #12, we continued with our discussion of trusts and, in particular, the concepts of the "prudent investor" rule and incentive trusts.
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During this episode of Hull on Estate and Succession Planning, we talked about:
(i) the concept of trusts;
(ii) different types of trusts;
(iii) the advantages of a trust;
(iv) considerations in choosing a trustee; and
(v) an illustraion of how trusts provide much needed flexibility. --------
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During this podcast, Suzana discussed the type of taxes that arise on death and suggested ways to defer or reduce each of them:
(i) capital gains tax;
(ii) tax on RRSP and RRIF assets; and
(iii) probate fees Suzana then discussed other tax reduction strategies as well. --------
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During this podcast, we discussed the following:
(i) the accounting obligations of an Executor;
(ii) the concepts of informal and formal accounts;
(iii) investment of Estate assets;
(iv) the recreational property "conundrum"; and
(v) planning for capital gains taxes. --------
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During this podcast on the role of the Executor, we discussed the following:
(i) Executor's fees;
(ii) the use of professionals by the Executor;
(iii) removing Executors; and
(iv) income tax filings. --------
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During this podcast on the role of the Executor, we discussed the following:
(i) applying for probate;
(ii) timing of distributions;
(iii) making funeral arrangements;
(iv) locating the will;
(v) filing the final tax return; and
(vi) providing information to beneficiaries. --------
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During this podcast, we discussed the following:
(i) the general role of the Executor;
(ii) collecting and distributing assets; and
(iii) applying for probate. --------
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During our podcast, we continued our discussion on ways to "bullet-proof" a will:
(iv) properly documenting any gifts you make during your lifetime;
(v) carefully considering unequal treatment of your beneficiaries;
(vi) will drafting - losing a gift if you challenge the will;
(vii) contracts not to contest a will; and
(viii) avoiding making casual "will like" dispositions. --------
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During our podcast, we discussed way to "bullet-proof" a will:
(i) ensuring you have proof of your mental capacity to sign a will;
(ii) protecting against claims of undue influence; and
(iii) ensuring your will is properly executed. --------
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During our podcast, we discussed the following legal issues:
(i) role of an Executor;
(ii) children and the Corvette effect;
(iii) guardianship (iv)what happens when you die without a will;
(v)the difference between a holograph and typewritten will; and
(vi)considerations when amending a will. --------
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During this podcast, we discussed the following legal issues:
(i) reducing the estate tax bill;
(ii) protecting your assets;
(iii) distribution of assets; and
(iv) gifts of income. --------
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During our podcast, we discussed the following legal issues:
(i) The financial and emotional costs of estate litigation;
(ii) Protecting your estate with advance planning;
a. develop a comprehensive estate plan
b. consulting with beneficiaries in advance --------
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