Yup, no bueno. One spot. Even if it is only updated once a year, that's ok. The core rarely changes. I have copies of documentation for my parents and a few other people at my house and know where the originals are at theirs. I don't know or care about the passwords or signing authority for now. They are all entirely capable of managing without me meddling. If mental capacity starts to diminish, I will probably start making things joint accounts as it makes things so much easier and they won't get locked up in probate.
My dad plans to sell his house soon and rent so my sibling and I can inherit cash money. Personally I don't care if he goes to Vegas and blows it all on hookers and blow, but its his dough.
Exactly what I keep telling my mom. Go spend it and have fun.
But she's adamant that she wants my siblings and I to inherit something of her hard work and frugalness.
There was lots of over buying to hedge bets all over the first world. There will be some loss and waste in distribution. When many of these vaccines were purchased they also did not know which or how many would work.
First world will have to help get vaccines to the third world, if they do not, it will all be for naught because it will just keep mutating and spreading. So I am sure this also plays a part.... BTW, it is cheaper to vaccinate them then deal with decades of mutated waves, but it is for the entire first world to step up.
He's more likely to let pfizer label vials as six doses thereby both increasing our cost of vaccine by 20% and requiring emergency purchase of much more expensive and hard to obtain syringes.
Wonderland is continuing to play silly bugger. They are using 2m separation distance on rides as good enough. They keep conveniently forgetting that that applies to still air only. In a ride moving at 50 km/h you can probably only have one car occupied per train without droplet transfer.
Wonderland is continuing to play silly bugger. They are using 2m separation distance on rides as good enough. They keep conveniently forgetting that that applies to still air only. In a ride moving at 50 km/h you can probably only have one car occupied per train without droplet transfer.
He's more likely to let pfizer label vials as six doses thereby both increasing our cost of vaccine by 20% and requiring emergency purchase of much more expensive and hard to obtain syringes.
I was about 8 with my 11yr old sister on the tilt a whirl at the cne. She screamed at the operator to stop. MY BROTHER IS GONNA PUKE!
I still remember the crowd trying to flee.
My M-I-L passed away about two years ago and the estate is just being wrapped up. The out of town house was appraised just after her death but didn't sell for a year and a half due to will challenges. Covid and other factors drove the selling price up resulting in a capital gain of $130,000 payable by the estate. However it was the only income for the estate and with the capital gains rules the tax was only about 10%.
Capital gains is a good way to make money. They only tax half. If a person earned $130,000 as wages they would have paid at least three times the taxes.
Probate fees were about $7-8,000 on a half million estate but it's a sliding scale so a bigger estate would be somewhat larger percentage wise.
A lady I know is well taken care of by her pensions so had given very generous gifts to her young adult grandchildren. The pensions die with her so she depart the planet almost broke. Funerals can be prepaid. The downside is that if her situation changes (Unlikely in her case) she could have a problem.
I have an asset list on my computer and the people that are involved know how to find it. Not only bank accounts but a general idea of the value of things like cars, bikes and unique furniture. Run-of-the-mill furniture is almost worthless.
I agree, the most likely outcome is loss of trophy wife. Her acting career is officially sunk. She is going to be very upset until the court date with the threat of jail looming over her. She wasn't born in Canada, not sure of her immigration status. Really, she has a lot more to lose than him. He can just retire somewhere warm with his hundred of millions (or at least half of that).
Maybe sugar daddy is thinking that if she gets the boot he can find a newer model. With his settlement I'm sure there will be other candidates.
I know a guy, about 60 years old, who inherited a big bundle and suddenly a nineteen year old became his best friend, moving into the family house, part of the in-limbo estate. Then she found out that, due to his learning disability, he had a guardian that controlled his wallet. I think the tire marks are still on the street where she did a burnout as she left.
I don't know much about trusts. I have another acquaintance that theoretically should have a simple will, one adult heir but the heir is having soap opera type marriage troubles. Estates don't have to be shared with spouses but if they include a family home and the home is co-habitated it's on the table. Same thing with cash, if it goes into a joint bank account it's a joint asset.
I don't know if a trust keeps the assets away from the settlement table.
I don't know much about trusts. I have another acquaintance that theoretically should have a simple will, one adult heir but the heir is having soap opera type marriage troubles. Estates don't have to be shared with spouses but if they include a family home and the home is co-habitated it's on the table. Same thing with cash, if it goes into a joint bank account it's a joint asset.
I don't know if a trust keeps the assets away from the settlement table.
There is a death tax in Ontario -- it's called the Probate tax. $5 on ever $1000 up to $50K, then $15/$1000 after that.
You don't pay on everything, RRSPs, Insurance, TFSAs and real estate outside Ontario is not included. You normally don't pay on things that pass thru to spouses, you will on items passed out trough the estate.
So... if Grandma leaves you her $1m castle, expect to pay just under $15K in probate taxes.
I would prefer the cash, but don’t want them to feel I’m telling them what to do with their money.
We need to sit down eventually just to know what is what because they just say ‘it’s all taken care of’ whatever that means.
You will find a good family lawyer can help put all this together well ahead of time. They are also good at facilitating discussion and advising on the delicate and uncomfortable topics that have to be covered. They will cover things you might not think of (like what happens if you pre-decease your mom... does your inheritance pass to your widow or your kids?)
Getting this done while your parents are in good shape is a lot easier and cheaper than leaving it too long - sorting things after the fact is more expensive and can be very frustrating. A lawyer will give you a basic understanding of probate, the responsibilities of an executor, answer your questions and draw up wills for $600-1000 on an uncomplicated estate.
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