Archive for the ‘Minor Children’ Category
Sunday, November 28th, 2010
Invariably, when people hear that I work in wills and estates, the immediate response is, “Oh, I really should get my Will done!” Sound familiar? Adults often become blasé or unwilling, for a variety of reasons, to ensure that they have up-to-date wills and powers of attorney. In this and my next blog, I hope to motivate and encourage you to ensure you’ve done your estate planning and have these documents in place.
Having these important documents in place is really about making it easier for those we love. Naturally, most of us would never intentionally cause undue stress for our families. (more…)
Posted in Estate Planning, Intestacy, Minor Children, Power of Attorney for Personal Care, Power of Attorney for Property | Comments Off
Monday, April 19th, 2010
If parents are separated or divorced, a custodial appointment in a parent’s Will is only effective if that parent was entitled to custody of the child at the time of the parent’s death. It is essential that both parents, especially those who are married or who have joint custody due to separation or divorce, reach a consensus as to who should be appointed custodian. If parents name different custodians in their Wills and then the parents die in a common accident in circumstances that make it impossible to determine who died last, neither of the custodians named will have custody.
Many parents, whether biological or adoptive, are surprised to learn that they do not have the right to name a permanent custodian of minor children. (more…)
Posted in Custodians of Children, Estate Planning, Guardians of Children, Minor Children, Young Children | Comments Off
Thursday, April 8th, 2010
Although not a subject many parents like to think about, parents of a minor child (under the age of 18) should consider who will look after their child if both parents die. This is a decision often debated and agonized over but, all too often, ignored. Hopefully, the information provided over the next few weeks will help you make an informed decision and will encourage you to put that decision in writing.
Although the term guardian is commonly used to mean a person having custody of a child, the correct legal term is ‘custodian’. (more…)
Posted in Custodians of Children, Estate Planning, Guardians of Children, Minor Children, Young Children | Comments Off
Friday, March 12th, 2010
Children Under the Age of 18 (Minors)
A parent (or other person leaving a gift to a child) who wants to delay payment of the inheritance beyond the age of 18 must include a trust in his or her Will. Otherwise, the inheritance will be handed over to the child at age 18. If a trust holds the child’s inheritance, a parent can specify how much the child receives and when. (more…)
Posted in Estate Planning, Minor Children, Trusts, Young Children | Comments Off
Thursday, January 7th, 2010
If there is no trust in the Will, an executor may wish to pay the child’s inheritance into Court. By doing so, the executor is discharged from further responsibility to the extent of the amount paid into Court. The executor does not need to monitor the Court’s handling of the money, how it is invested, or keep any further records.
When a minor child is left an inheritance, the Office of the Children’s Lawyer (OCL) may become involved. An office within the Ministry of the Attorney General for Ontario, the OCL’s mandate is to represent personal and property rights of minors and unborn children, including estate and trust matters.
Parents may also be surprised to learn that when a child reaches the age of 18, he or she can demand that the inheritance be handed over to him or her if the inheritance is not being held in a trust. The child can also demand a full accounting of all transactions affecting the inheritance unless previously approved by the Court.
A parent (or other person leaving a gift to a child) who wishes to defer payment of the child’s inheritance beyond the age of 18 can include a trust in his or her Will. In a trust, the parent can specify that partial payments of the inheritance are to be made at various ages with income (what the trust assets earn) being paid out regularly.
Posted in Custodians of Children, Estate Administration, Estate Planning, Guardians of Children, Minor Children, Young Children | Comments Off
Tuesday, November 24th, 2009
If you are the parent of a child under 18 (referred to as a ‘minor’), you may wonder what happens if your child inherits. There are a number of ways that a child may inherit:
- the child could be named as a beneficiary in a Will;
- the child could inherit from a relative who dies without a Will (referred to as ‘dying intestate’) if the child is one of the legal beneficiaries under the intestacy laws of Ontario; or,
- the child could be named as a beneficiary of a life insurance policy or any other asset where a beneficiary can be named, such as a segregated fund, an RRSP/RRIF, or death benefit. (more…)
Posted in Estate Administration, Estate Planning, Guardians of Children, Minor Children, Uncategorized, Young Children | Comments Off
Friday, October 23rd, 2009
Part 2 of 2
Many parents, whether biological or adoptive, are surprised to learn that they do not have the right to name a permanent custodian of minor children. Ontario law gives the court a supervisory role over all custodian appointments and such appointments are based upon what the court considers to be the best interests of the child. (more…)
Posted in Custodians of Children, Estate Planning, Guardians of Children, Minor Children, Young Children | Comments Off
Sunday, October 18th, 2009
This is Part 1 of a 2-part blog
Although not a subject many parents like to think about, parents of a minor child (under the age of 18) should consider who will look after their child if both parents die. This is a decision often debated and agonized over but, all too often, ignored. Hopefully, the information provided in this 2-part blog will help you make an informed decision and will encourage you to put that decision in writing. (more…)
Posted in Custodians of Children, Estate Planning, Guardians of Children, Minor Children, Wills in Foreign Jurisdiction, Young Children | Comments Off
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