Have you ever thought of what second and third marriages and also divorce can do to an estate plan? These are important life developments that need to be included in estate plans. To help us better understand these issues, Kristine J. Anderson who is a partner with the law firm of Bales Beall LLP, based in Toronto, Ontario speaks to some of the issues surrounding this topic.
Included in our conversation, Kristine addresses the following questions:
- What obligations exist upon your death to provide for spouses and children? And what is the definition of spouse and the definition of child?
- What happens if you do not properly provide for a spouse or child when you die?
- What factors are considered in assessing whether a spouse or child is properly provided for?
- What tools do the courts have to remedy the situation?
- How could your insurance and RRSP beneficiary designations be at risk?
If you or someone you know is thinking of re-marrying or getting a divorce, we encourage you to listen to this podcast. These are important legal issues that affect estate plans.