Should I maintain separate bank accounts or have joint bank accounts with my partner?

This is often discussed and is a really a matter of personal preference. However, before making your choice, make sure you are informed with accurate information and think about your objectives in having separate or joint accounts. If partners wish to maintain financial independence from one another, for example, simply keeping accounts in sole names […]

Is a do-it-yourself Will valid? Does it need witnesses?

There seem to be two common types of do-it-yourself wills out there and both require the maker, or testator, to sign the document. The first is created using a will kit and contains a template. This one requires two witnesses to sign the will, in the testator’s presence, after the testator has signed it. The […]

When I’m acting as a personal representative (executor), do I need to be in contact with the beneficiaries?

While clear and regular communication with beneficiaries is always a good idea, it is also a requirement. At minimum, you are required to notify the beneficiaries of the following information: the name of the deceased person, your name and contact information, the gift the beneficiary will receive from the estate, and that gifts are subject […]

Ask an Expert: What happens to my online accounts upon my death?

The new Estate Administration Act requires an executor, also called a personal representative, to manage online accounts and to identify and manage digital assets. When creating an estate plan, care should be given to creating a list of all online accounts (like eBay or PayPal) and virtual property (communications like Gmail or MSN; media like […]