John M. Macaulay Professional Corporation
Joint bank accounts can provide that the survivor of the joint owners is entitled to the balance in the account on the death of the other joint owner. But will this occur? Where a parent names an adult child as the joint owner of a bank account, there are usually two reasons for doing so..
After 47 years as a lawyer, it still amazes me how often I’ve been asked whether or not it’s wise to share homeownership or ownership of other assets with other people. My answer is always that it depends, but that generally, it’s not advisable. When I’ve been asked this question, I’ve asked one back. Why.
So you want to make your bank account joint with another person. Maybe your banker or a well-meaning friend has told you this is a good idea. Maybe they’re right, but maybe they’re wrong. Let’s discuss. Why would you consider adding someone to your bank account? Some of the reasons may be convenience, estate planning,.
Estate trustees in Ontario are required to file the Estate Information Return with the Ministry of Finance within 90 days of the issuance of the Certificate of Appointment of Estate trustee. We recommend that the Return be delivered to the Ministry of Finance in a manner whereby receipt by the Ministry can be confirmed. The.
One of the questions which I am asked over the years is whether an attorney using the authority under a power of attorney can access money held for an incapable donor to be used for other purposes than to benefit the donor. THE SHORT ANSWER IS NEVER! This situation arises most often when a child or.