1.1 Estate Planning for Fractured Families
Presented by the CBA's National Wills, Estates and Trusts Section
Monday, August 13, 2012
8:30 – 11:30 AM
In Canada, 34% of first marriages fail and 43% of divorced people will remarry. Over half of those who remarry will wed someone who also is divorced. Chances are the second marriage will be successful, but 20% of Canadians who remarry have left their second spouse before their 8th anniversary.
All these numbers result in a very complex web of rights, claims and obligations and means that a thorough understanding of estate planning for second families is critical before representing clients in these wills and estates situations. This informative session will address estate planning issues such as the tax consequences of a change in marital status for estate planning including transfers upon marriage breakdown, attribution rules and rollovers. Provincial differences contributing to cross-Canada complexity will be analyzed. A consideration of planning to avoid the family fight will include the use of estate planning agreement and the doctrine of mutual wills. Once the family fight heads to court, there will be an examination of claims arising from remarriage and common-law partnerships, and also the problems that arise from a more disturbing event – the predatory marriage. The capacity to marry and make powers of attorney also will be considered in the context of the elderly or vulnerable client. There also will be a discussion of your professional responsibilities and ethical obligations when practicing in this complicated area:
- Moderator:
- Bruce Hallsor, Crease Harmon LLP (Victoria)
- Presenters:
- Kim Whaley, Whaley Estate Litigation (Toronto)
Cynthia Hiebert-Simkin, Inkster Christie Hughes LLP Wealth and Estate Law Group (Winnipeg)
Wendy Templeton, Templeton Law (Toronto)
ACCREDITATION DETAILS
The time spent attending this program (3 hours) may be applied towards the annual CPD requirement in all mandatory CPD jurisdictions.
For members in Ontario with 2+ years of practice, please note that 1 hour of the program is eligible for Professionalism credit. This program has also been accredited by the Law Society of Upper Canada for 3 hours toward the annual New Member Requirement.
For members in other provinces with Professionalism CPD requirements, please note that this program offers 1 hour of content on ethics, professional responsibility and practice management issues.