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Briggs & Stratton Acquires Equity In Accelerated Systems, Inc
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Briggs & Stratton Acquires Equity In Accelerated Systems, Inc
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
This article appears in the June 2021 issue of Advisor’s Edge
The Ontario government’s simplified probate process for estates valued at $150,000 or less will make administering small estates less costly and easier for estate trustees (as executors are known in Ontario), estate practitioners say.
Probate, known as estate administration tax in Ontario, is the process whereby a court validates a will and confirms the executor’s authority to administer the estate. While not all wills need to be probated, banks and other financial institutions generally don’t release money held in the deceased’s accounts until the executor obtains probate.
Rudy MezzettaMelissa Shin
In Ontario, virtual will witnessing is now permanent, courts will be able to save invalid wills and marriage no longer automatically revokes a will.
The province’s estate law reform hit a major milestone with the royal assent of Bill 245 last month. The omnibus bill, first tabled in February, includes changes to the acts governing wills, powers of attorney and intestacy.
The updated legislation “better reflects the realities of life in the 2020s” and “has the potential to improve access to justice,” said Suzana Popovic-Montag, estate lawyer and managing partner with Hull & Hull LLP in Toronto.
Bill 245 permits permanent virtual witnessing of wills and powers of attorney, which was already allowed on a temporary basis in the province. At least one witness must be a licensed lawyer or paralegal. The legislation doesn’t specify an effective date for the provision, but will apply retroactively to any will or power of attorney document signed in a
Rudy MezzettaMelissa Shin
In Ontario, virtual will witnessing is now permanent, courts will be able to save invalid wills and marriage no longer automatically revokes a will.
The province’s estate law reform hit a major milestone with the royal assent of Bill 245 last month. The omnibus bill, first tabled in February, includes changes to the acts governing wills, powers of attorney and intestacy.
The updated legislation “better reflects the realities of life in the 2020s” and “has the potential to improve access to justice,” said Suzana Popovic-Montag, estate lawyer and managing partner with Hull & Hull LLP in Toronto.
Bill 245 permits permanent virtual witnessing of wills and powers of attorney, which was already allowed on a temporary basis in the province. At least one witness must be a licensed lawyer or paralegal. The legislation doesn’t specify an effective date for the provision, but will apply retroactively to any will or power of attorney document signed in a
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