Written by Jack Rotsztain
Life insurance is an often overlooked but powerful tool to consider in one's estate planning. The utility of life insurance is not limited to helping surviving family members pay for funeral and related expenses, but life insurance can also be used strategically to attain certain financial objectives. Two important outcomes that can be achieved through the strategic use of life insurance are liquidity and estate maximization.
Written by Jack Rotsztain and Benjamin Gal
Upon the death of an individual, his legal personhood continues in the form of his estate. In the will, the decedent appoints an executor or executors to pay the outstanding debts and expenses, to administer the assets of the estate, and to distribute the remaining assets of the estate to the beneficiaries named under the will. An executor has a number of important responsibilities when administering an estate, and this process can sometimes lead to trouble for the unwary. While this memo is in no way exhaustive, below are five errors executors commonly make in their role
When a person dies, it is their Executor who manages the estate, seeing to the distribution of estate assets and fulfillment of estate obligations. Your Executor is appointed in your will.
Think again.
Regardless of your age and the extent of your assets, having a Will gives you a say over who your heirs will be, often reduces fighting among your loved ones when you are gone, and can result in more money going to the people you choose. While we would all like to think we will live forever, the reality is that each of us has a time, and none of us knows when it is.
KRMC represented the plaintiff, a vehicle financing company, in BMW Financial Services Canada v Mirzai et al, 2018 ONSC 180, a recently reported decision of Justice De Sa. In that case, the plaintiff financed the purchase, by one defendant (the "debtor"), of a vehicle. Shortly after the purchase, the debtor sold the vehicle to the other defendants (the "purchasers").
Written by Rozmin Mediratta
For the sake of (relative) simplicity, this blog post will focus on doctors. Similar questions arise, however, in the context of other regulated health professionals in Ontario, of which there are 26 under the Regulated Health Professions Act ("RHPA").
While both regulatory complaints and civil suits can result from the same event, the processes and outcomes involved in each are distinct, including everything from the names of the parties (plaintiff/defendant in civil suits versus complainant/respondent in regulatory complaints) to the remedies available.
Written by Michael Sniderman
If you are injured in a motor vehicle accident in Ontario and want to sue the at-fault driver, there are two questions that you should keep in mind:
Any person bitten, attacked or otherwise injured by a dog in Ontario is entitled to seek compensation. This article briefly addresses the legal rights and remedies available to victims of dog bites and attacks.
Philip Cho presented at the Law Society of Upper Canada's 6-Minute Debtor/Creditor and Insolvency Lawyer program, chaired by the Honourable Justice Fred Myers and Michael Myers, on October 17, 2016.
In an article for Morningstar, KRMC wills and trusts lawyer Raquel Kaplan Goldberg spoke to journalist Gail Beebee about the importance of planning for incapacity. Goldberg reviewed ways to proactively select future substitute decision makers of one's choosing - including by granting powers of attorney for property and personal care, and setting up alter ego trusts - and explained that a failure to do so could result in third parties making that choice instead, usually with increased costs and reduced flexibility and privacy.
The complete article can be found here.
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