Darrel Hotz, Barrister & Solicitor

Whether you watch "This Is Us" or not, one of the current storylines showcases an important conversation, that we should all have with our family.

Rebecca has a husband, 3 adult children, and 7 grandchildren.
She also has Alzheimer's Disease.

She has a current will and has made her husband her Power of Attorney for Personal Care.

BUT if he is not able to perform this duty - or passes away before she does - she has also verbally chosen one of her children to step into this role.

Lessons learned:

1. As new health issues arise, you may want to update elements of your will.

2. Appointing at least one person to be your Power of Attorney for Personal Care, and Power of Attorney for Property, are important.

You may choose different people - and you may choose a substitute, in case the first person is unable to fulfill this responsibility.

3. Verbally choosing an individual, in a conversation around the dining room table is a good start.

Your intentions must be in writing - signed and witnessed.

4. Make several copies of your will and POA's, and ensure those who are close to you know where they are located.

Your lawyer will have a blank copy of the document in his possession, but they often do not keep a signed copy, as this is your responsibility.

Any questions?

We can help.

At first blush, this cover story is about greed, privilege, entitlement, arrogance, and more greed.

BUT on second blush, it is also about an astute, successful businessman who made ONE very poor decision.

He had 4 boys, all in the family business.

And his succession plan could be written on the back of a box of matches.

“You’ll fight it out.”

Yup - and then some!

If you are in a family business, protect yourself and your
legacy.

We can help.

Inside a $4-billion family feud Teodor Libfeld arrived in Toronto with nothing and built a multi-billion-dollar real estate company. When he died, his four sons took over and destroyed the empire he created

Snowblowers are expensive. Wouldn't it be great to split the cost between some neighbours on your side of the road?

Yup - it's a great idea.

BUT think first - act second.

We can help - with a wide range of business agreements - for both your personal and professional needs.

Are the December bills coming in?

Is it a big of a juggle?

Have you thought about refinancing your property?

We can help.

Let's just say that you and your BFF are both tired of "The Grind".
You are both creative, stylish and are thinking about starting up a little business together.
You already know each other's faults, good points, and a few pain points.
WHOA!!!!!!!!
Over a cup of coffee, this all sounds perfect - but entering into a business partnership is a bit more complicated - for better or worse.
Our suggestion:
Sit back - and take some time to flush everything out.
The next step - call us, and we can help you develop a partnership agreement - along with any other necessary business agreements - to make sure that everything goes smoothly.
We can help.

Are you recently engaged and looking forward to saying "I do"?

Congratulations!!!

Dreaming of a future together should be wonderful and magical.

BUT for one moment - think about the "nitty gritty" if things don't work out.

Cohabitation Agreements or a Marriage Contract may not be sexy - but depending on the circumstances, they can lay the groundwork to open, honest communications about assets, liabilities, and many other issues.

We can help. Virtual appointments are available.

Were the holidays "the last straw"?

Did you try to "keep it together for the kids", while making a promise to yourself that 2022 will be better?

Are you ready to take the first step?

We are here.

Virtual appointments are available.

I finished this great book last night.

43 short essays, each beginning with "I Won't"

Examples:

1. I Won't limit myself to friends my own age.
2. I Won't turn my home into a Sweat Lodge
3. I Won't forget to plan my own funeral

Yes, it's a difficult topic, but the book was full of great advice, in a light, non-judgemental tone.

BUT it missed one HUGELY IMPORTANT chapter.

44. I won't forget to have a current will, Power of Attorney for Personal Care, and Power of Attorney for Property.
44A. I won't forget to let those close to me know where I keep these important documents.

"Life is what happens to us while we are making other plans." - Allen Saunders, 1957 (Yes, John Lennon used this quote in "Beautiful Boy" as well)

Do you have a current copy of these important documents?
If not, our firm can help.

This book is being released on August 17th, and I am adding it to my "to read list.

BUT

While you are trying to put the "fun" back into "funeral", have you given any thought to your "stuff"?

Our firm can work with you to either prepare your will, or to update an existing document. We will also prepare a Power of Attorney for Personal Care, and a Power of Attorney for Property.

Pre-planning your funeral is smart.
Thinking ahead about all the other elements is even smarter :)

With over 35 years experience, our firm is able to assist you with all your legal services.

A glass of delish cold- brewed coffee is only a bonus ;)

The door may be open at the good ol' bank of "Mom and Dad" .........

BUT, before you consider selling your home, in a seller's market, and giving your kids part of the windfall, so they can get in the market, have you considered the following:

1. Have you fully considered your future?

Moving out of the city may lower your housing costs, but have you discussed long-term plans, as you both age and health issues may escalate?

2. If you have more than one child - or if this a second marriage for either of you, and there are step-children involved - could issues arise if you are "helping out" one child?

How will you handle a sibling, or step-sibling, who may also have hope for a capital infusion - for a down payment or perhaps another kind of investment?

As you plan your estate, should each child get an equal share - if one of them received a little "financial help" from you beforehand?

3. Do your adult children have spouses or common-law partners?

What if their relationship ends, and they must sell the property in which you may have invested?

It gets confusing.

We can help.

Baby boomers are bailing out Toronto's condo market with huge gifts for their kids The downtown Toronto condo market continues to bounce back with a vengeance following a full year of steady, pandemic-induced declines, and one of ...

Great clients write great testimonials!!!

A spring day is even brighter with a great testimonial!

I will definitely be reading a copy of this book when it is released in August, as it's a unique spin on a difficult conversation.

According to the publisher Quirk Books, the book will answer 6 key questions.

1. What is the most eco-friendly burial method?
2. Should I write my own obituary?
3. Do I really need a will?
4. Can my body be shot into space after I die?
5. What can be cremated with me?
6. And, perhaps most important, how do I avoid being buried alive?

At this time, I can only comment on #3.

YES!!!!

51% of Canadians had no last Will and testament
35% of Canadians had one that was not up to date.
(Source Angus Reid Institute Survey – January 2018)

It is difficult to face the future and think about tough decisions – for ourselves, our partners, our parents, and our extended family.

Preparing a Will – and two additional supplementary documents – Power of Attorney for Personal Care, and Power of Attorney for Property – involve both a commitment of time and some honest, open discussion.

Life is unpredictable.

Accidents, illness, job loss, family breakups – a lot can happen, and sometimes, we can truly be caught off guard.

During the COVID pandemic, we have all witnessed how illness can devastate a family. And sadly, how many families can find themselves at a crossroads if life-saving decisions for an individual must be made on their behalf – by other family members.

Our firm with over 35 years of experience in developing Wills and Powers of Attorney for clients, has a seamless, contactless system in place.

Tomorrow afternoon it will be 14 Celcius in Toronto.
In March.

As the Spring Real Estate Market begins to heat up, are you beginning to think about a second home, away from home?

- Should you invest with some buddies?
- Will your folks pre-advance you some of your inheritance now, as real estate seems like a great investment?
- Will renting out the place during peak times be enough to cover the mortgage and additional hard costs?
- Can you renovate and extend the footprint of the cottage extensively?

As this idea begins to take shape, working with a great lawyer, who has over 35 years of experience in Real Estate, Family Matters, Business Agreements, and Wills, Estates & Trusts would be a sound decision.

"Both couples were worried that sharing such close quarters and splitting finances would cause problems, but they figured their friendship was strong enough to overcome it."

Three tiny little letters to add to this story.

ILA.
ILA.
ILA.

Outside of your spouse, NEVER, NEVER, NEVER embark on buying a real estate property with another individual without getting ILA (independent legal advice).

Our firm has over 35 years of experience with real estate transactions. Buying, selling, refinancing - and preparing a myriad of business agreements.

These families just co-purchased a $900,000 semi in Mount Dennis. Now they're learning how to live together The Daley and Truax families each wanted to buy a house in the city, but on their own, they simply couldn't afford it. So the couples decided to pool their money and live together under one roof

Thank you Angela Baltkois, the Founder of Big Rig Wraps Transport Truck Advertising for this testimonial.

Thank you Paula Kennedy, the Founder of Purple Door Creative for this great testimonial.

In the days leading up to Valentine's Day, couples in love have a lot on their mind.

For those that are considering "taking the next step", getting engaged, making a lifetime commitment, and planning a wedding are exciting milestones.

BUT life can get complicated ..............

Do you have assets to protect - a business, a pension, a future inheritance?

A marriage contract may not be sexy - but just in case the road to happiness takes a curve or two - it may protect you.

Talk to us - We can help.

https://dhotzlaw.com/will-you-marry-me/

Will You Marry Me? | Darrel N. Hotz Read this article before you say, "I do!" Learn why having a Marriage Contract is the best way to protect yours and your future spouse's future.