Laredo Law

My latest newsletter is here! This month's edition looks at a recent Ontario estate case and why the wording in your will can make all the difference. You'll also find some of Toronto's best fine dining restaurants, a look at the largest park to open in TO in a generation, and more 😊 https://tinyurl.com/laredolaw

Have you ever wondered if you can change your will without hiring a lawyer? The short answer is yes—sometimes. But just because you can doesn't always mean you should.

A small change might seem straightforward, but one simple mistake could lead to confusion, or make parts of your will invalid.

In this video, I explain when updating your will yourself might be okay, and when it's a good idea to get legal advice. ⚖️ Take a look, and if you have any questions, I'm always happy to help!

https://youtu.be/RE6BPBJ-5ts?si=0smqiaXHN7Criau8

A recent court decision sends a strong message to technology companies: executors shouldn't have to jump through unnecessary legal hoops to access a loved one's digital assets. The decision is encouraging for executors and beneficiaries, but it also highlights an important estate planning lesson: your digital assets matter.

Think about your:
✔️ Email accounts
✔️ Social media profiles
✔️ Online banking
✔️ Loyalty and rewards programs
✔️ Photos and cloud storage

Read more about this important decision and what it means for your estate plan:

Judge warns tech companies to expect ‘significant’ costs for ‘redundant’ digital asset orders - Laredo Law If you’ve ever been frustrated by a social media company’s customer service, just imagine how your heirs will fare after you’re gone. 

What if you never make a will? It's a question many people put off, but the consequences can have a lasting impact on the people you care about most.

Without a valid will, the law decides how your estate is distributed, which may not reflect your wishes. In this video, I explain what happens and why having a plan in place is so important: https://youtu.be/NuoHJhwz9oI

Your pets aren’t “just pets”—they’re basically tiny, furry dependants with strong opinions 🐶

If something happens to you, do you know who’s taking over snack duty, walk negotiations, and emotional support services?

Including your pets in your will lets you choose someone you trust and leave clear instructions for their care; so they don’t end up in a guessing game later.

If you’re curious how it works (or want to make sure your cat doesn’t inherit chaos), watch my video and reach out anytime: https://youtu.be/VAZqwZvfrGI

Many Canadians may be surprised to learn that bare trusts are now subject to CRA reporting rules. In my latest article, I break down what a bare trust is, who may be affected, and what you need to know to stay compliant.

Bare trusts are now subject to CRA’s reporting rules - Laredo Law The era of the reportable bare trust has begun.

People often ask me, can I have more than one executor in my will?

In this video I cover when it makes sense, what to watch out for, and how the right setup can save time, money, and stress.

Watch here if you haven't already 👇

Appointing More Than One Executor Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.

A power of attorney is built on trust. But that trust can be abused...

A recent Ontario case involving a common-law partner who misused a power of attorney highlights an important point: attorneys for property have a fiduciary duty to act in the grantor’s best interests, not their own. Courts are increasingly willing to hold those who abuse that authority accountable.

The lesson isn't to avoid powers of attorney. It's to choose your attorney carefully and ensure your documents are drafted properly.

Read more here:

Man jailed for POA abuse of common-law partner - Laredo Law Abuse of a POA could cost the perpetrator much more than money – it could also cost them their freedom.