Posts Tagged 'David Mills'

Will you be my Estate Trustee?

Will you be my Estate Trustee?

What to do when someone asks you to be their Trustee.

Courtesy of David Mills from Mills & Mills LLP. And contributed by J. Paul Mills, Q.C.

If someone asks you if you are willing to be her or his Estate Trustee, Executor, Attorney for Property or guardian of children, you should not automatically say “Yes”. Acting in any one of these fiduciary capacities can be seen to be an honour but there are very serious responsibilities involved which should not be ...

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Can Trustees Avoid Liability?

Can Trustees Avoid Liability?

Can a Trustee Avoid Liability Even if Found to Have Made a Costly Mistake?

Courtesy of David Mills from Mills & Mills LLP..

Before agreeing to take on the role of Estate Trustee, the named individual should consider carefully the fact that it is a difficult, time consuming and often thankless job. For the uninitiated, the myriad responsibilities – from gathering information on assets and liabilities, to assembling tax information and completing tax returns, to managing relationships with and among beneficiaries (many ...

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Dying Without a Will

Dying Without a Will

Courtesy of David Mills from Mills and Mills LLP.

If a person dies without a valid Will, lawyers say that the person died “intestate” or that they left an “intestacy” (whereas a person with a Will dies “testate”). Many people have no idea – or, more frequently, the wrong idea – of what will happen to their money if they die intestate.

In Ontario, Part II of the Succession Law Reform Act governs how a person’s estate will be distributed ...

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Beware the “Will Kit”

Beware the “Will Kit”

Courtesy of David Mills from Mills and Mills LLP.

Why should you not use a do-it-yourself “Will Kit”?

A form can’t ask all the right questions. No matter how carefully prepared it is, a “fill in the blanks” Will kit simply cannot listen carefully to your needs and circumstances and prepare a Will that safeguards your estate, minimizes taxes, and protects against avoidable and costly conflicts.

Seemingly minor mistakes can have costly and unexpected consequences. Wills are subject to very specific ...

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Why do you need a Will?

Why do you need a Will?

Courtesy of David Mills from Mills and Mills LLP.

You believe that you should decide how your hard-earned estate will be divided, not the government. Under Ontario’s Succession Law Reform Act, the estate of a person who dies without a Will is distributed according to a specific set of rules. These are often inconsistent with what an individual would choose for him- or herself.
You have young children. In a Will you can provide instructions as to who should ...

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