It is important to understand the impact a spousal relationship can have on financial interests and estate plans. When advising clients, we need to know the whole story, because the smallest detail can make a big difference in planning.
The legal definition of a spouse is found in different pieces of legislation in each Province – and the impact of those definitions is different across the country as well.
We will explore where to look for the definition of a legal spouse and which legislation applies. Our panel will explain the implications for estate planning when a spouse exists. What are the claims of a spouse when there is no Will? Can a spousal relationship void a Will or be used to challenge a Will? We will also touch on additional considerations of aging and spousal declarations for things like long term care, health directives and pensions.
Our advisors are finding there are many different stripes of relationships, and this presents a great challenge for planning.
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