Assets and Debts

Lawyer Cynthia Hiebert-Simkin of Winnipeg, MB joins our project to look at some of the issues of assets and debts when dealing with estates. During her extensive career, she has helped many families deal with these complicated issues. Included in our podcast, we discuss the following questions:

Is there anything that you would like us to know as we begin this conversation?
Why does my lawyer ask for so much information about my assets and debts?
What are the assets of my estate?
What are the debts of my estate?
What if I’ve given somebody something in my will – do I still get to use it as I want during my lifetime?
Is it a good idea to add my son or daughter as joint owners of my accounts or house?
What are probate fees and do I have to worry about planning to avoid paying them?
What if my son or daughter dies before me? Does their share go to their spouse or common-law partner?
Can a beneficiary of the estate also be the executor in my will or act as my attorney under the power of attorney?

We strongly encourage you to listen to this podcast and either contact Cynthia directly or a lawyer in your area to discuss your estate plans.

Thank you Cynthia for joining our project.

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About Cynthia Hiebert-Simkin

Cynthia Hiebert-Simkin is a partner with Tradition Law LLP, Estates and Trusts. Called to the Bar in Manitoba in 1993, Cynthia currently practices in the area of Wills, Estate Planning, Estate Administration and also deals with Elder Law issues on a regular basis. Eight years of family law practice gives her particular insight in estate planning issues for second families

Cynthia is passionate about education and the importance of information in helping people make decisions about their legal rights. She has researched and lectured frequently on wills and estates issues, both to the public at large and professionally, nationally and locally. She has lectured nationally for the Canadian Bar Association and provincially for the Law Society of Manitoba, The Manitoba Bar Association and the Faculty of Law as well as for many community organizations. She sat on national ad hoc committees looking at issues such as health care decision making for incompetent individuals and estate planning issues arising from surrogate parenting situations. Cynthia taught “Wills and Succession” for two years at the Faculty of Law, University of Manitoba and was the editor of the Law Society of Manitoba CPLED materials on probate and estate administration for 10 years. She is one of the authors of the Wills and Estates case comment in the Manitoba Bar publication “Headnotes and Footnotes”. Cynthia was on the organizing committee for Will Week, an annual education program presented by The Public Guardian and Trustee of Manitoba and the Winnipeg Foundation and is a regular presenter for the program.

Cynthia is a past chair of the Canadian Bar Association National Wills, Trusts and Estates section and was on the Board of Directors of the Jewish Foundation of Manitoba. She is a member of Women Business Owners of Manitoba.

Tradition Law Estates & Trusts

Tradition Law LLP, Estates & Trusts assists clients in passing wealth from generation to generation.

We regularly assist our clients with strategies intended to minimize income taxes and in structuring special arrangements to improve the lives of the families, friends and community left behind. This includes estate freezes, living trusts, tax planned wills, and special trusts for disabled beneficiaries. Click on the Estate Planning link.

We help families deal with estates after the death of a loved one, applying for probate and handling estate administration. Click on the Estate Administration link.

We also help clients who need to fight over estates. We do that directly, going to court on their behalf and, indirectly, giving second opinions to clients and other lawyers. Consultations and litigation support are available from us even if the dispute is in another province. We also have a lawyer who is a trained arbitrator (court is not the only way to decide a dispute). Click on the Estate Litigation link.

We advise people who are handling financial affairs for an incapacitated loved one. Being an attorney or a committee for a loved one is difficult. Need to “pass accounts?” Need to get out of trouble? Want remuneration? Click on the Support for Committees and Attorneys link.

We teach and educate lawyers, accountants, and the public, and do so on a nation-wide basis. We write textbooks and build websites that are used across Canada. A boutique firm should do more than churn out work. Click on the Special Projects link.

You want a firm that focusses on your needs. Click on the link Your Needs — learn how we can help.

Yours needs.

Estate planning should be about your needs. Look over the list of items appearing below. Are any of those items of potential interest or importance to you or your family?

Estate Planning

Tax Efficient Wills — Allowing your heirs to pay lower taxes after inheriting.
Charitable Giving at Death — Making your world a better place and saving taxes at the same time.
Blended Family — Directing your wealth if you have a complex family situation.
Protecting Wealth From In-Laws — Making sure that the wealth you leave to your children stays in the family.
Avoiding US Estate Tax — Avoiding US estate taxes that your family might be forced to pay if you have connections to the US.
Protection From Financial Misadventure — You have a beneficiary apt to squander their inheritance.
Protecting Multiple Generations — You would like to set aside a portion of your wealth for your family over the longer term.
Assets Elsewhere — You have assets in other provinces or countries

Litigation and Related Services

Avoiding Disputes — You anticipate a fight over your estate.
Capacity Assessments — Helping people put wills in place even if they are suffering from diminished mental capacity.
Court Fights — You are embroiled in a fight over an estate.

701 – 310 Broadway
Winnipeg, Manitoba
R3C 0S6

(204) 947-6806 Visit Website