John M. Macaulay Professional Corporation
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Often an estate trustee (executor) asks “how do I pay for the funeral?” Sometimes there is money available but many times the estate trustee must obtain the funds from the deceased’s bank account or other sources. Banks are not always informative about ownership of the deceased’s bank accounts causing delays in administration. On death someone.
The common understanding of joint ownership is that where two people own an asset jointly and one dies the survivor becomes the sole owner of the asset. This is certainly true among spouses, not necessarily with others. It is common to have a parent appoint an adult child as a joint owner on a bank.
The Family Law Act (the “FLA”) provides that if the surviving spouse’s “net family property” is less than the “net family property” for the deceased the surviving spouse may elect to take one half of the difference between the “net family property” of each of them. The computation of each person’s “net family property” is.
The process of changing a will depends on the type of will you already have. There are two general types of wills. Firstly, you might have a typewritten will usually drafted by your lawyer. This type of will is signed in the presence of two witnesses [who are not also beneficiaries] and who must also.
What are they? A power of attorney is a legal document permitting a person to name another person(s) to represent them and to make decisions for them about their property and health care. Remember do not confuse the term “attorney” with “lawyer”. In the United States lawyers are called attorneys. This is not so in.
