Now what?

You caught the virus and woke up dead. So now what?

It’s been on the mind of a lot of people lately. Lawyers have been busy with wills and POAs since the bug hit in March. Same with funeral homes, where pre-planning is a fun new thing to do. As this not-a-virus blog has stated often, your chances of being sickened and slaughtered by Covid are far less than the odds you’ll be financially whacked. But, human nature being what it is, a majority believe their health is at risk and, if infected, they will shuffle off this mortal coil.

Okay, so how do you get ready for the inevitable? We all become frail and croak (except Mick Jagger) virus or no virus.

First, you need a will. Get a lawyer and draft one. Do not grab a will off the Internet. If you can’t find a solicitor, or are incredibly cheap, then in some provinces a holographic will is legal – one you pen by hand, have witnessed (but don’t run through your word processor). Without a will, the courts will appoint an administrator to disburse assets, so if you really hate your grandchildren or still fancy your first wife, this might be a disappointment. And if you don’t spell it out, who will look after the dog?

Also required are Powers of Attorney. These give another person the authority to look after you, to make decisions regarding property, finances or personal care. Ensure you and your spouse are POAs for each other, and pick an alternate as well. If you never, ever want to be put into a long-term care home, say so. DNR? Include that, too if you don’t want Herculean efforts put into keeping you alive into antiquity. In some provinces there are POAs for both property and personal care. In others you appoint a delegate to make certain decisions.

Tip: don’t appoint multiple POAs, like you three kids. Or anyone who might be a beneficiary of your estate. If the people appointed as attorneys cannot agree on an action (like spending $8,000 a month to care for a parent with advanced Alzheimer’s) then none can be taken. Lawyers may enter. Chaos may ensue. Mom suffers. Find a competent, independent person or institution to step into this role.

By the way, if you’re ever acting as POA for another person – a parent, relative or friend – realize there’s a fiduciary and legal duty involved. By law you must put their interests ahead of your own. Ask these questions before taking ay action: “Is what I am doing completely for the benefit of that person? Is there any conflict of interest?”

Over the years I’ve been irked by the decisions some adult children have made with regard to their fading parents, scrimping on care (for example) in order to maximize their potential inheritance. If you think a family member might be the best POA for you at a time you really need help, think again.

Same with the role of executor. Go ahead and appoint your spouse, since s/he will likely be assuming your assets, but realize it’s a seriously dumb idea to name a child as executor for the estate. Unless your kid is a lawyer, financial wiz, accountant or has oodles of time of their hands, this could end up a complete mess. Being an executor is complicated, time-consuming and may result in litigation or tax liability.

As this blog has spelled out in the past, unless you’ve been an executor, it’s hard to appreciate how huge the task is. Settling someone’s estate can take several years, and involve work on a weekly, or daily basis. Sure, you need to handle the funeral arrangements, cremation or burial, death certificate, look after pets, dispose of personal assets, empty the residence, talk to the bank, credit card companies, merchant accounts, work pension, CPP, the CRA and insurance company, but that’s the easy stuff.

The will must be located, validated, and an estate account opened. All investment assets, stock certificates, account numbers, bonds, deeds and documents found. The terminal tax return must be filed within six months, perfectly, taking into account any past unresolved tax issues you may have been aware of (without investigation). There could be a requirement for multiple returns in many cases. In several provinces executors are personally liable for past obligations of the deceased for a period of several years. The CRA can go back most of a decade to determine what liabilities may exist, so you need to obtain a Tax Clearance Certificate.

As executor, you have a legal duty to find all beneficiaries and deal with them in a fiduciary capacity according to the dictates of the will (which may have to be probated and paid for). Beneficiaries can sue you, personally, if you fail in your task, or even if they don’t like the will and allege it’s not valid or was written under duress or during a time of foggy thinking. As executor, with keys to the estate’s assets, you can also become the target of greed, anger or family discord – amazing how such emotions bubble up, quickly overcoming grief.

Typically, being an executor takes about 18 months and can require fulfillment of sixty or seventy separate tasks, from dealing with insurance companies, to large pension plans, creditors and bankers and others sticking their hands out. So there are a great many reasons why appointing a family member – or your spouse, or child – is the worst thing possible. They may be incompetent to do all of these jobs. Or too busy. Too young and inexperienced, too old and unsteady. And do you really want to dump this kind of complicated, difficult job into the lap of a loved one who is struggling with your recent death? That seems grossly unfair, and a recipe for trouble.

Way better to appoint an institutional executor, like the estate & trust services division of your bank or investment company (all the big guys offer this). Yes, that costs money – perhaps 4% of the estate’s value (less above a million) – but there’s a 100% chance all of this stuff gets done. Or ask your lawyer if his/her firm will agree to settle the estate (often with lower fees). Then your heirs, beneficiaries, family and friends can concentrate on missing you rather than squabbling.

There you go. Attend to of all this, and you can die happy. Well, almost.

 

117 comments ↓

#1 TurnerNation on 08.07.20 at 1:05 pm

It does appear that CV is the new Global Religion – gathering believers like climate change could not.

Ace Goodheart kicked off this revelation. Lately his posts seem more toward fear. So let’s flesh it out:

– To indoctrinate someone, isolate them (or convince to ‘self-isolate’) and bombard them with 24/7 new system programming. Check.
– Disconnect them from all the old ways and culture. #Cancelculture, shut down the Old System. Check.
– This is totally proven and known programming. Tried and true – it works.

– CV is an omnipresent god and sees all. It can get you at home, at work, in the car , in bed, and especially doing fun stuff. (No wonder some other religions ban dancing and frivolity.)
– Non believers and mockers get stricken with CV the next day. Sinners.
– You were born sick/sinner. You have no method of proving your health. As a concequence you must attone daily with rituals.
– You must perform daily purification rituals – using Purell, natch.
– You should tithe at least 5% of your income toward PPE. To keep the heathens at bay.
– You must believe and await the return of your saviour, the vaccine.
– Until that time you must live the pure lifestyle alone as in a monastary.
– When in front of your god you must remain reverant, hushed and masked – showing ones face would be gauche.
– You do not question the narrative. CV had a virgin birth, got it? In a market with a bat and un-wise men.

– Science plays little part in it. No you hear people speaking daily about the CV tribulations and miracles they witnesses on the telescreen. Bearing witness to these feats and wonders is of importance in the daily ritual.
– You government is the physical manifestation of the CV gods. Only they can divine the truth and communicate it to you via daily manna sermons – on your telescreen. Mortals like yourself cannot interpret the word. They have a direct line to the top.

– At least once daily you should check the good book: the CV numbers and scores. It will give you an idea of how many sinners live among us.

— Gensis: Great reverence is paid to the Flu of 1918. Perhaps spoken about on bended knee. This was 1918 – BCV (Before CV)
– In the future heathens will be marked by a scarlett letter on their social credit score. Only those which took the communion – the chip, the needle, whatever – will be allowed to gather.

Just wear your Freedom Masks and smile and maybe you will get freedoms back. You must believe in this redemption.

I wish I were joking…

#2 SoggyShorts on 08.07.20 at 1:07 pm

#307 millmech on 08.06.20 at 11:20 pm

The big question I am hearing more and more is where is the science behind “social distancing”, please any one of the armchair experts here please post some links to the science that six feet is safe!

*********************
I’ve never seen a single claim that 6′ is “safe”.
But it’s logically “safer” than 5, or 2.

A quick google search will reveal that the number comes from how far a large or medium droplet typically travels.
Of course, this doesn’t account for the smallest droplets or airflow, but that can’t really be completly accounted for unless we increase the distance to about 30′ which clearly isn’t practical.
Unless…masks? Could placing a physical barrier in front of every mouth reduce the distance that droplets travel?
You’d think that it would, but somehow there’s this going on:
https://www.youtube.com/watch?time_continue=1&v=eA9mXxB40AI&feature=emb_logo

I think the biggest problem with information these days is that there is so much of it and people only latch onto one part and are unable to see the whole picture to make a logical conclusion.
Masks are an excellent example: They are overall good, but with flaws, and some choose to focus on the problems dismissing benefits- as if something imperfect is useless.

My motorcycle helmet occasionally fogs up a little bit, and if they’d been invented today some jackass would make a viral video about how bad they are. Then there’d be a huge debate about them with many insisting that not only are they useless, but any government trying to enforce their use is tyrannical, corrupt, and part of a lizard-people conspiracy.

#3 Cottagers STAY THE HELL AWAY! on 08.07.20 at 1:22 pm

Beautifully said a few days ago here by Jean-Jacques-Beaujacques-des-Laurentides on 08.02.20 at 2:58 pm:

“Anyone else fed up with the fat old grey beards on their Harleys with modified mufflers making a God Damn racket as they drive through small rural towns? People live in these towns, own property, try to make a quiet life for themselves, and every weekend these flabby old men show up with their rumbling engines and their pathetic faux outlaw look. The only law they are breaking is disrupting the peace and quiet.

What peeves me most is that they leave their generic suburban smell holes to enjoy the countryside, a positive externality provided by people who choose to live here and protect the landscape and our quaint old villages that these losers then pollute with their noise machines from May to October.

Time to lobby our governments and tell them no more old men on their noise making Harleys who are compensating for their decreasing testosterone levels with loud modified mufflers.

Get a shave and a new wardrobe you old sad-sack men with your Harleys and leather vests.”

STAY AWAY FROM COTTAGE COUNTRY YOU INBRED SOUTHERN HILLBILLIES!

Just.

Stay.

Home.

#4 cramar on 08.07.20 at 1:23 pm

Whew! So, in other words, maybe it is better and far less complicated to die broke! Or in debt!

With no assets there is nothing to be concerned about. Maybe most people have it right after all.

#5 Do we have all the facts on 08.07.20 at 1:26 pm

The financial advisor who managed the retirement portfolios of both my Mom and Dad was an invaluable help in guiding my sister, as executor, through the process of settling my Dads estate when he died.

He walked her through all of the assets in his portfolio and referred her to an accountant to verify possible tax obligations. You are right about the time frame required to square away all loose ends and the number of entities that have to be notified and provided with a copy of the death certificate.

I made sure to compensate my sister for taking on such a time consuming task on my behalf.

#6 Karl Lang on 08.07.20 at 1:36 pm

A year and a half ago I had to roll up my mother’s estate.
It was very simple and did not involve a lot of variables.
Man oh man, I spent countless hours running allover the place. I actually managed to finish it up within 6 month.
If her estate would have not been so simple I can see where it would take a year or longer to close it out.

#7 Willworkforchocolate on 08.07.20 at 1:39 pm

I can attest to the fact that even a “simple” estate probably has surprises that will have you tearing your hair out. Currently helping my out of province brother with executor duties for our mothers estate. I have most of the paperwork but we are learning about lost share certificates , shares we didn’t know about and certificates that were supposedly “joint with right of survivorship” but the transfer agent has no records and the lawyer threw away the record as it was over 10 years ago. Also discovered another sibling took contents of a safety deposit box with her when she moved to the other side of the world, removing share certificates that were not rightly hers. This is all for an estate that we thought would not need to be probated because it is not a high value estate and Mom tried avoid probate by naming beneficiaries and make accounts joint. On the point of Power of Attorney, hard to know how someone might react to having access to your life’s savings. Some family members, nice as they may seem, can’t help dipping in to benefit themselves. This experience is making me revisit our own wills and POA. Institutional executors are looking more worthwhile every day.

#8 Catalyst on 08.07.20 at 1:47 pm

If your willing to pay your realtor 5% to sell your house, 4% on your estate seems like a bargain.

#9 FreeBird on 08.07.20 at 1:52 pm

Good time to say our local hospital asked me 3 times (maybe 4) pre surgery if I had a signed DNR on file. I’m familiar with it and did with both parents (one part of agreeing to executorship and other at end stage of cancer) and been asked before pre surgeries but seemed a bit much so I revoked it. Maybe the stress, pain drugs or lack of any in person support but creeped me out. Normally good to have in place and understand but also tell loved ones because some will fight your (signed/legal) wishes if as a friend said ‘there’s even one eyelash moving.’ But it’s more about if heroics are used to keep one alive would they want to live with a possible very restricted/decreased quality of life as a result (ie wiping your own bum is no longer an option or kept alive on ventilator etc).

Also reminder to think about signing your donor card. Both of us did and many we know. Again, tell friends/family (yes even crazy aunt sally or controlling brother Bob) so it’s not a surprise and give any who object a chance to say…but it’s your body your choice. Don’t be a wuss and make others find out by hospital staff. Seriously.

There’s uplifting start to a weekend.

#10 Barrie from Barrie on 08.07.20 at 1:55 pm

Could not agree more, Garth! Most POAs are amateurs, and very bad at it, unable to sever their personal ideas and sense of entitlement from their duties to the elders. If you are a POA, call a lawyer and get a briefing on what your job really is.

Be especially careful about passing on real estate properties as well, people. For example, it is now very common for family members to sign up as “joint tenants” of a property with their parents, with the idea that this will “simplify” things and avoid probate costs when mom and dad pass away.

The problem is that if the remaining children/owners don’t agree on what to do with the house, then it becomes a mess. Sometimes one or more will squat at the property for years (they are legally all entitled to live there) while others just want to sell. Others will hang onto the house for sentimental reasons and watch the years go by, racking up expenses as the roof falls in. And if one joint tenant dies, their share goes to the others, not to their estates.

So joint ownership should only be for cases where it is between two spouses, or where there is a clear shared commitment by children to sell the house within a few months of a death. Anything else is stupidly risky.

But the lawyers will be rubbing their hands!

#11 Margingo Latoya on 08.07.20 at 1:55 pm

cerb MUST be extended another 12 months!!

#12 TurnerNation on 08.07.20 at 1:56 pm

What might the fall bring. As we see schools are being used as the next front in this global war (WW3):

“Toronto Public Health raises concerns about Ontario’s back-to-school plan as Premier Doug Ford defends against growing criticism theglobeandmail.com”

– Some have said they will push them into classrooms in Canada, US then tell us cases are rising and send everyone home to be online. CV can do anything to remake the world.

Why? Because the Global Techno State is to raise your children: Plugged into the likes of Google Classroom all day (‘education’); then staring at another screen all night for more (mind) programming at the hands of the few tech giants.

But why? Because this is what’s planned. It’s here in black and white. This guy is just a smiling front man for the New System. Gotta get em while they are young. Remember any tech we are told of is already decades old and perfected:

Don’t think microchip – that is ancient clunky technology, although all Semi-conductor manufacturers are currently producing chips measured in a few nanometers. Think Smart Dust and Nanotechnology. I recall the news told us about Nanotech 20 years ago. It was to help our health (LOL) by crawling through our bodies. Flip their claim 180 degrees to make sense…

https://en.wikipedia.org/wiki/Neuralink

Neuralink Corporation is an American neurotechnology company founded by Elon Musk and others, developing implantable brain–machine interfaces (BMIs)

Musk defined the neural lace as a “digital layer above the cortex” that would not necessarily imply extensive surgical insertion but ideally an implant through a vein or artery.[13] Musk explained that the long-term goal is to achieve “symbiosis with artificial intelligence”,[14] which Musk perceives as an existential threat to humanity if it goes unchecked.[1

#13 Ponzius Pilatus on 08.07.20 at 1:58 pm

Prophetic picture today.
250 k bikers expected in Sturgis this weekend.
Gonna need lots of coffins 3 weeks from now.

#14 RyYYZ on 08.07.20 at 2:00 pm

Over the years I’ve been irked by the decisions some adult children have made with regard to their fading parents, scrimping on care (for example) in order to maximize their potential inheritance. If you think a family member might be the best POA for you at a time you really need help, think again.
==================================

Well, that’s a sad commentary on some families.
I don’t care if get a cent in inheritance from my mother. My only concern is trying to help ensure she doesn’t run out of money before she runs out of days on this earth. But if she does, I’ll take care of her.

#15 Chris on 08.07.20 at 2:03 pm

Number 3. Shut up

#16 Piet on 08.07.20 at 2:03 pm

#3 Cottagers STAY THE HELL AWAY!
“Beautifully said a few days ago here by Jean-Jacques-Beaujacques-des-Laurentides on 08.02.20 at 2:58 pm:…”
————
Agreed, Jean-Jacques-Beaujacques-des-Laurentides has eloquently expressed what many of us think and feel every time one of those idiotic old guys riding on one of those ridiculous motorcycles pollutes the environment with noise that screams “look at me.” But it’s not just old guys. Those noise machines serve as a test for egocentric stupidity, and there are people (almost exclusively male) of all ages who apparently pass the test.

#17 Mountain Dew on 08.07.20 at 2:10 pm

Garth is right about the executor thing. I was executor of my mom’s estate — holy cow, it was a complicated mess, and my mom had her affairs in order! I hired the estate services division of Royal Bank for a reasonable fee, and they did almost all of it. Once they took over, it was a piece of cake. There is no way I could have done it myself, and I would have got it wrong because it is too complicated. And they provide needed transparency. ALWAYS get a PRO involved. ALWAYS.

#18 Overheardyou on 08.07.20 at 2:31 pm

One more thing, for the love of dog, do not let your non citizen in-laws pass away in Canada without a will. It’s a nightmare, literally from every aspect.

#19 Dolce Vita on 08.07.20 at 2:38 pm

Morbid.

Necessary.

Call me what you will the rest of you but GARTH you have been at your very best throughout the detritus that the damn virus has left in its wake.

Yes indeed Garth, your very BEST.

——————————-

StatCan site down at present for some unknown reason BUT got this Tweet from them 5 h ago on the July Labour Force Survey:

https://twitter.com/StatCan_eng/status/1291723260153995264

419,000 (+2.4%) in July, compared with 953,000 (+5.8%) in June. This brought employment to within 1.3 million (-7.0%) of its pre-COVID February level.

Chart in above:

Hole being filled in NOT dug deeper. Nice.

‘Atta go Canada, The Little Economy that Could (and DOES)!

#20 crowdedelevatorfartz on 08.07.20 at 3:12 pm

@#1 Turner Nation.
“I wish I were joking…”
++++

I wish you weren’t paranoid…..

#21 crowdedelevatorfartz on 08.07.20 at 3:15 pm

@#16 Piet
“Those noise machines serve as a test for egocentric stupidity, and there are people (almost exclusively male) of all ages who apparently pass the test.”

++++
As someone once commented to me.
“Harleys are like their owners…..loud and slow…..”

#22 I think Hell must have frozen over ... on 08.07.20 at 3:20 pm

booked a flight to GB about a year ago and paid for it. Just got an Email saying they will now refund my money. After already saying they wouldn’t.
As for being an executor … if you plan for the eventuality, have a simple will to execute, and a little time … it’s actually quite easy.

#23 Wrk.dover on 08.07.20 at 3:21 pm

Again, savers are punished.

Death will cost them an extra premium!

#24 KM on 08.07.20 at 3:22 pm

Aren’t we going to hear the results of yesterday’s ‘How do you think it will end’ question? There was a record high over 300 comments!

#25 FreeBird on 08.07.20 at 3:23 pm

#17 Mountain Dew on 08.07.20 at 2:10 pm
Garth is right about the executor thing. I was executor of my mom’s estate — holy cow, it was a complicated mess, and my mom had her affairs in order! I hired the estate services division of Royal Bank for a reasonable fee, and they did almost all of it. Once they took over, it was a piece of cake. There is no way I could have done it myself, and I would have got it wrong because it is too complicated. And they provide needed transparency. ALWAYS get a PRO involved. ALWAYS.
——————-
Agreed. Been there. Twice. An experience. Last line can’t been stressed enough. Also TELL others about your wishes while still alive. Ive heard POST-iTs colour coded by family member and or give donate etc work well. Morbid yes, but it’s life. Hint: your grand/kids prob don’t want your 20 yr old furniture or silverware. Ask first and if they do gift it while still alive or donate. Don’t leave it as a maybe not so happy surprise. Trust me.

#26 Bill on 08.07.20 at 3:32 pm

#20 crowdedelevatorfartz on 08.07.20 at 3:12 pm
@#1 Turner Nation.
“I wish I were joking…”
++++
I wish you weren’t paranoid…..
_____________________________
And what do you think world wide riots and protest are about?
Its all the same and its going to get worse and that trend has been in place for YEARS. The Elites have gone to far.

#27 Dolce Vita on 08.07.20 at 3:40 pm

StatCan is up and running now.

10.9% unemployment rate (11.2% unadjusted).

Believable since Labour Force size back to February numbers, well sort of (X 1000):

Seasonally adjusted

Feb 2020 20,323.2
July 2020 20,029.5
About 300,000 still MIA.

Unadjusted

Feb 2020 20,006.2
July 2020 20,354.8
About 350,000 added to the labour force.

Between the 2 estimates, a wash. Labour force size to me reads back up to what is was in Feb. therefore EMPLOYMENT, UNEMPLOYMENT numbers believable.

Means ON THE MEND jobs wise, still a high unemployment rate at 10.9% but always better than 13.7% in May (worse since labour force was at only 19.1 million then or about 1.3 million had gone MIA vs. Labour Force size in Feb.).

Keep filling in that hole Canada.

——————–

https://www150.statcan.gc.ca/t1/tbl1/en/cv.action?pid=1410028701

——————–

PS:

Infographic 1 “Deep Throat” author(s) happy too (they normally dish the “official report” here, making the above even more believable save this bad news: visible minority unemployment rates much worse than 10.9% (bottom right):

https://www150.statcan.gc.ca/n1/daily-quotidien/200807/g-a001-eng.htm

The Daily LFS report:

https://www150.statcan.gc.ca/n1/daily-quotidien/200807/dq200807a-eng.htm?HPA=1

#28 Andrewski on 08.07.20 at 3:44 pm

My experience was so easy. Lost both parents, in their 90’s within 5 months of each other. Mom first, then Dad.

My Dad trusted me, so he had me joint account-holder on all bank accounts, had POA in effect and up to date Will in order, so it was all quick and easy.

Only a small investment account for the grandkids through a bank was slow, which took a tad over 1 year to finally close out and go to the grandchildren.

#29 Sail Away on 08.07.20 at 3:44 pm

#19 Dolce Vita on 08.07.20 at 2:38 pm

Call me what you will the rest of you…

———–

You sprocket grinder, you.

#30 Dave on 08.07.20 at 3:45 pm

Cremation is far better then Burial.

Ashes at sea is far better then costly rotting

#31 drongo on 08.07.20 at 3:54 pm

@#3 Cottagers STAY THE HELL AWAY! on 08.07.20 at 1:22 pm
Beautifully said a few days ago here by Jean-Jacques-Beaujacques-des-Laurentides on 08.02.20 at 2:58 pm:

“Anyone else fed up with the fat old grey beards on their Harleys with modified mufflers making a God Damn racket as they drive through small rural towns? People live in these towns, own property, try to make a quiet life for themselves, and every weekend these flabby old men show up with their rumbling engines and their pathetic faux outlaw look. The only law they are breaking is disrupting the peace and quiet.

———————–

Do you country folk ever not complain?
Always something with you people lol.

#32 Jimmy Zhao on 08.07.20 at 4:04 pm

All the drugs and alcohol have embalmed the insides of Mick Jagger and made him immortal.

#33 Terry Vinet on 08.07.20 at 4:05 pm

Thanks again Garth! Very usefull information.

#34 Sail Away on 08.07.20 at 4:11 pm

#24 KM on 08.07.20 at 3:22 pm

Aren’t we going to hear the results of yesterday’s ‘How do you think it will end’ question? There was a record high over 300 comments!

—————-

Yes, the results were 286 different scenarios. You’re welcome.

#35 Niagara Region on 08.07.20 at 4:13 pm

Interesting story in the Miami Herald on money-laundering through real estate (and other vehicles) in south Florida:
https://www.miamiherald.com/news/local/article244763197.html

#36 Trojan House on 08.07.20 at 4:15 pm

2 SoggyShorts on 08.07.20 at 1:07 pm

Social distancing actually came from a 13 year-old’s science project. Her dad was a doctor at WHO during SARS in 2003 and they (her dad and her) had been discussing how to prevent spreading the disease and she came up with distancing from each other. Don’t believe me? Look it up.

#37 Sail Away on 08.07.20 at 4:15 pm

#30 Dave on 08.07.20 at 3:45 pm

Cremation is far better then Burial.

Ashes at sea is far better then costly rotting

———–

Think climate change/fires/fossil fuels, D.

And composting is great for the vegetables. Giving back.

#38 drongo on 08.07.20 at 4:17 pm

@#26 Bill on 08.07.20 at 3:32 pm
#20 crowdedelevatorfartz on 08.07.20 at 3:12 pm
@#1 Turner Nation.
“I wish I were joking…”
++++
I wish you weren’t paranoid…..
_____________________________
And what do you think world wide riots and protest are about?
Its all the same and its going to get worse and that trend has been in place for YEARS. The Elites have gone to far.
—————-

LMAO

#39 Brian Ripley on 08.07.20 at 4:17 pm

In Vancouver you can donate your body at the time of death to the University of British Columbia… “Once accepted, we will make all of the necessary arrangements for transport of the body by our approved funeral home and licensed transport provider to UBC. The University will bear the cost of cremation and simple urns.” https://cps.med.ubc.ca/bodyprogram/

I imagine other Canadian medical departments have similar programs.

My comparison chart of Toronto and Vancouver housing is up with July data:
http://www.chpc.biz/compare-toronto–vancouver.html

In July 2020

HIGHER PRICES
39% more for a SFD in VAN
23% more for a Town House in VAN
7% more for a Condo in VAN

1.2 more Listings in TOR than VAN
3.5 x more Sales in TOR than VAN
Monthly Absorption Rate TOR:VAN = 2.9

Ratio of SFD to Strata
1 VAN SFD = 1.8 VAN Town Houses
1 TOR SFD = 1.6 TOR Town Houses
1 VAN SFD = 2.3 VAN Condos
1 TOR SFD = 1.8 TOR Condos

10 Year SFD Inflation Rate:
​VAN = 102% and TOR = 123%

#40 Millennial Realist on 08.07.20 at 4:28 pm

#30 Dave said

Cremation is far better then Burial.

Ashes at sea is far better then costly rotting

———————

I’ll have to disagree.

Cremation is incredibly bad for the environment, all the fuel-burning involved, something people did not use to think about. Takes about 2 full SUV gas tanks to burn a body.

https://www.theatlantic.com/technology/archive/2014/10/how-to-be-eco-friendly-when-youre-dead/382120/

Much, much, much better to bury the body simply. No need for fancy caskets, either, putting tons of needless processed metals and wood into the ground.

Maybe even convert some soon to be empty condos and office towers into burial compounds?

Boomers, when you go, go organically.

#41 Linda on 08.07.20 at 4:31 pm

Given that many people put off making a will, I’d say this is one of the silver linings of the pandemic. Went to a seminar on wills etc. decades ago. Quite the eye opener as to what would – & more to the point, would not – occur if one didn’t have a will in place. Where you actually live could change things too, so if one moves to another province or country it might be prudent to check to see whether your will might need to be amended.

#42 okotoksmatt on 08.07.20 at 4:48 pm

Great advice Garth. I am my brother’s executor. It has been hundreds of hours of thankless work. He had a common-law wife and ex-wife with a minor child. The child is the main beneficiary. I was paying out 40k/ year but the ex-wife still sued to gain control of the asserts and get herself paid more. You have to appear before a judge to get the estate signed off when a minor is involved. The estate got audited by the CRA as an extra bonus.
People should pay the 4-5% and have a professional do it. Don’t appoint someone you love as it is not an honour.

#43 crowdedelevatorfartz on 08.07.20 at 4:56 pm

@# just Bill…Not Bill Gates
“And what do you think world wide riots and protest are about?”
++++

Hmmm, well , after several months of Covid lockdowns and everyone was ready to explode…… some idiot cops choked a guy to death…….. on TV…..for 9 minutes……

Does that just about sum it up?

#44 Bill on 08.07.20 at 4:57 pm

#38 drongo on 08.07.20 at 4:17 pm
————————————–
Your vote means means nothing it ain’t no diff here.
https://www.armstrongeconomics.com/international-news/politics/the-degeneration-or-politics/

#45 crowdedelevatorfartz on 08.07.20 at 5:03 pm

@#30 Dave
“Ashes at sea is far better then costly rotting”

+++++

Nah.
Go full organic and have your corpse dissolved over a short period into liquid alkaline goo……that is then poured down the city sewer…….
Its greener!

https://www.cbc.ca/news/canada/ottawa/bodies-dissolved-sewers-smiths-falls-funeral-1.3635063

#46 earthboundmisfit on 08.07.20 at 5:11 pm

The difference between a Harley and a Hoover is that a Hoover has the dirtbag on the inside.

#47 crowdedelevatorfartz on 08.07.20 at 5:31 pm

@#40 Millenial Surrealist
” Boomers, when you go, go organically.”

+++++

Only if you will agree to have my dissolved liquid goo poured in your garden.

#48 willworkforpickles on 08.07.20 at 5:35 pm

Sitting here in my library i have a little story for you.
More a scary notion than a story.
Did you know there are some people who have some people cremated because they are afraid they could come back…did you know…
…did that scare you. No…
hmmm well now,
I’ll get you next time.
Until then,
…the librarian grows weary….

#49 Sydneysider on 08.07.20 at 5:36 pm

Going back to yesterday’s post, I feel that Sweden has taken the right path. As for the endgame in Canada, after the damage to the treasury I suspect it will come to resemble the UK in the 1970s:

https://journals.openedition.org/rfcb/1662

#50 Ponzius Pilatus on 08.07.20 at 5:41 pm

Nature is cruel.
Where there is a cadaver, there are vultures.
I speak from experience.

#51 yvr_lurker on 08.07.20 at 5:44 pm

I think it depends on the situation whether it is worth appointing an executor who would charge 40K on 1Millon. For small families with only a few heirs who are aware of what is in the will, and when the deceased is just a regular dude without the overseas accounts and not of our elite ruling class (sarcastic here), there is not so much value in coughing up this kind of dough to pay someone when all it takes is just takes some organization skills… personal experience here….

#52 Bill on 08.07.20 at 5:48 pm

DELETED

#53 Barb on 08.07.20 at 5:58 pm

Here in B.C., when Mom had a stroke in 2018, despite her signed and witnessed by family doctor DNR form, the nurses in the hospital asked me if she had a Medical Representation form, naming me.

Mom was mostly still lucid and the nurses said they witness MR forms “all the time” for the family while the patient is already in hospital under their care.

Got the form off the internet, took it to the hospital, discussed each question with Mom, and answered clearly. The two RNs asked me to leave the room while they asked Mom if she understood all the questions, answers and what she had signed, and that I was her authorized medical representative. She replied yes.

I was called back into Mom’s room, and both nurses witnessed the form. Mom thanked them.

In the ensuing weeks, her condition worsened, she was transferred to Hospice House, where she passed away.
On Mother’s Day. At 94. A life well lived. I’ll miss her forever.

The nurses were right, the DNR isn’t enough.

#54 Steven Rowlandson on 08.07.20 at 6:04 pm

To hell with death! I need to get rich so that I can live….

#55 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 08.07.20 at 6:17 pm

Speaking of preparing for death……..

TORONTHOLE IS BACK TO NORMAL!!!!

LEAFS CRUSHED AFTER BLOWING THREE GOAL LEAD!!!!

ON THE VERGE OF ELIMINATION IN HOURS!!!!

https://www.thestar.com/sports/leafs/opinion/2020/08/06/the-maple-leafs-fortunes-turned-on-a-dime-its-not-over-but-they-can-see-it-from-here.html?li_source=LI&li_medium=thestar_recommended_for_you

#56 Indigirl on 08.07.20 at 6:17 pm

Garth, the problems don’t arise because a family member is appointed. Problems arise because people refuse to spend the $1000-2000 to get a proper will done through a lawyer, and then to keep that will updated as personal circumstances change and people die. Getting your affairs in order is what matters most – meaning have a proper will done by a lawyer, use an accountant, and tell your attorney and executor where your stuff is!!

Problems also arise when parents aren’t honest with their kids about their estate plans. They try to maintain peace, keep things fair, divvy up the jobs. It only leads to heartache later on. A parent knows in his heart which kid will be good with the money and is trustworthy. Pick that kid. No one else. The right kid will always put the parent first and make the right financial decisions inline with the parents wishes.

And joint property with a kid is a no-no without proper legal advice. There is a presumption that joint property with no consideration between a parent and kid is held by the kid for the benefit of the estate upon the parent’s death. Surprise! Sure, the kid can rebut the presumption, but lawyers get rich of off that fight.

But why should I complain. As an estate litigator I will never be out of work.

#57 50 YEARS OF MAPLE LEAF INCOMPETENCE! on 08.07.20 at 6:22 pm

Speaking of preparing for death……..

TORONTHOLE IS BACK TO NORMAL!!!!

LEAFS CRUSHED AFTER BLOWING THREE GOAL LEAD!!!!

ON THE VERGE OF ELIMINATION IN HOURS!!!!

https://www.thestar.com/sports/leafs/opinion/2020/08/06/the-maple-leafs-fortunes-turned-on-a-dime-its-not-over-but-they-can-see-it-from-here.html?li_source=LI&li_medium=thestar_sports

THIS WILL BE GREAT!!!!

GO LEAFS GO!!!!

AWAY!!!!

#58 Bill on 08.07.20 at 6:24 pm

#43 crowdedelevatorfartz on 08.07.20 at 4:56 pm
Protest in Europe, South America have been going on for some time….The Tea party was the started way back.
The last crash people lost their home while Wall Street ripped of the American public. I had 2 family members lost their homes and I sadly warned them and they didn’t believe me as the economy was booming. People are fed up everywhere.
And here’s Bill Gates the Belgies filed a law suite…
https://www.armstrongeconomics.com/international-news/rule-of-law/belgium-files-suite-against-gates-neil-ferguson/

#59 Randy on 08.07.20 at 6:24 pm

you paying property taxes ? haha…You are a renter

#60 Bill on 08.07.20 at 6:25 pm

#43 crowdedelevatorfartz on 08.07.20 at 4:56 pm
Protest in Europe, South America have been going on for some time….The Tea party was the started way back.
The last crash people lost their home while Wall Street ripped of the American public. I had 2 family members lost their homes and I sadly warned them and they didn’t believe me as the economy was booming. People are fed up everywhere.
And here’s Bill Gates, the Belgies filed a law suite…
https://www.armstrongeconomics.com/international-news/rule-of-law/belgium-files-suite-against-gates-neil-ferguson/

#61 SoggyShorts on 08.07.20 at 6:32 pm

#36 Trojan House on 08.07.20 at 4:15 pm
2 SoggyShorts on 08.07.20 at 1:07 pm

Social distancing actually came from a 13 year-old’s science project. Her dad was a doctor at WHO during SARS in 2003 and they (her dad and her) had been discussing how to prevent spreading the disease and she came up with distancing from each other. Don’t believe me? Look it up.

********************
It’s MUCH older than that, going back at least as far the 1930’s for tuberculosis.
Don’t believe me? Look it up. heh.

But I wouldn’t mind a link to that theory you posted, my Google-Fu didn’t find it.

#62 AM in MN on 08.07.20 at 6:41 pm

It seems to be another one of the side benefits of the virus to make people think more about their death, and plan for it.

This is what responsible people do, since we’re all going to die one day, even Mick Jagger.

Think about a POA for health care decisions as well, and make sure that you are in agreement with whoever is making those decisions for you.

It seems in our post-Christian world, many people try not to think about death, perhaps because it forces them to ponder what might come after? It doesn’t matter what you believe, you still need to plan and not leave a burden to your family. This can involve having honest discussions with them while you still can, even if it’s difficult.

#63 Jay on 08.07.20 at 6:44 pm

ya ya Garth, we all have wills. Anyways back to the Virus…

I saw someone now wearing a mask! were all going to be infected!! Why aren’t masks mandatory in every province! we need to stop the spread!

Why aren’t classes 1 teacher to 5 students, spread out and wearing masks, all at great expense to everyone! Wont someone think of the Children!

Why are people still crossing the border? we should not be allowed to travel. ever!

I saw a tourist in my ratty town that survives on tourism and am outraged! stay home! I slashed their tires. Serves them right. Also my business closed, can i have a bailout?

How dare an Albertian visiting BC drive through to his hotel room by himself and not associate with anyone! he should be taking the bus like the premier said to and infect the locals! what a jerk!

Did I get them all?

#64 crowdedelevatorfartz on 08.07.20 at 6:49 pm

@#58 & 60 Stuttering Bill

Paranoid whiners that blame everyone but themselves for their crappy decisions…

And….could you explain who the “elites” are?

I’ve worked for self made billionaires( yes billionaires) who started from nothing and created thousands of jobs.
The same billionaires and their thousands of employees who pay millions in taxes per month.
They’ve earned every penny of their money and now, in their 80’s….are still working because….that’s their work ethic.

Everyone else that blames them for the world’s ( insert whining losers photos here)many problems are just jealous wanna bees that need CERB to survive.

Try balancing a cheque book or delaying tattoo number 4 or using the same smart phone for longer than 3 years…….

It really does save you money.

#65 Mean Gene on 08.07.20 at 6:56 pm

I know in BeeCee when someone goes into long term care or assisted living and it is government funded, what they pay for the stay (excluding the actual medical care) is income tested, assets are ignored.

That should change and eliminate the tax payer funded inheritance preservation.

I can see beneficiaries cheaping out and putting their parents into public care (preserving their inheritance) even if mum and dad has lots of assets that could pay the steep cost of private facilities.

#66 Nonplused on 08.07.20 at 7:07 pm

Good post today, Garth. I think we’ve been over all this before but it bears repeating from time to time.

I went with my lawyer as executor with my bank’s estate and trust if for some reason my lawyer can’t or won’t do it (he could be dead first from covid, for example, or hopefully retired, but most law practices get passed on to a successor who takes over the practice). I did this some years back when I realized that my siblings were not the honest rational people they always portray themselves as and my father was getting on in years so the chances of him being able to do it was quite short-sighted and too much of a burden.

A lot of people go with a family member because they are too cheap to pay 2-4% to a professional, even when they are dead. These are probably the same people who refuse to employ a financial advisor. But the question you have to ask yourself is “why should one poor schmuck of the schmucks you brought into the world against their will have to do all that work for free, whilst fielding phone call after phone call from the rest of the schmucks to hurry up and send the money?” Not a cool departing gift.

And don’t get me started on the acrimony that can arise when family members start arguing over money. That “loan” your dad gave your sister to buy a house when you got no such loan? How come that isn’t adjusted in the will? Or even worse what if it is? She isn’t going to like that one little bit. What about all the other cash disbursements that your siblings got but you didn’t because you didn’t “need” the money? And you can’t talk through these things because every. single. thing. that ever happened will come up. You’ll spend 8 hours arguing about the past for every 8 minutes spent on the subject at hand. Better to have a pro execute the will as stated and just accept the results. Otherwise Christmas will be ruined forever.

I used the house loan as an example because it is part of the complicated situation we are in and my dad and mom are alive and well, hopefully for a while. But my understanding is that the gift my dad gave my sister to buy a house, which he sort of had to do she was in a tough spot, is included in her “part” of the will. In other words it counts towards how much she gets, assuming there is anything to get which doesn’t look like it’ll be much right now. But from what I know of my sister, she isn’t going to take that lying down. That will not be “fair”. There will be a lawsuit. Dog forbid that I was the executor.

Never do business with family. And that includes your choice of executor. It’s hard enough to split the check at dinner with family.

#67 Nonplused on 08.07.20 at 7:11 pm

And now for some “woke” humor with John Cleese. Keep in mind he made this 30 years ago, but it seems especially relevant today:

https://twitter.com/i/status/1271535485467283457

#68 McSteve on 08.07.20 at 7:15 pm

Congrats, Cottage boy. Your rant on Harleys and their obnoxious noise is the first thing you have said that makes sense…

Enjoying some time away from the city at the cottage. Heeded your advise and didnt spend a minute (or dollar) in town supporting the economy.

#69 Bytor the Snow Dog on 08.07.20 at 7:16 pm

DELETED

#70 Slim on 08.07.20 at 7:34 pm

Many executors just end up handing everything over to a lawyer, anyway. So, it’s probably cheaper to get a estate lawyer, beforehand.

#71 Bill on 08.07.20 at 7:46 pm

#64 crowdedelevatorfartz on 08.07.20 at 6:49 pm
————————————-‘
Thats what happens when you drop the fon in the tub.
I don’t disagree with that entrepreneurs make jobs pay taxes.
I’ve owned 4 companies paid millions in taxes and all have done well.
I dont work for anybody…can’t stand being someones employee.
Have fun.

#72 Long-Time Lurker on 08.07.20 at 7:50 pm

>Gohmert and Bolsonaro updates.

>Louie Gohmert says he feels aches and weakness. He didn’t mention any other symptoms. He looks to be in good condition in the video. He doesn’t cough or have shortness of breath. It looks like he tested Covid positive on July 29th, so this would be his 9th day positive in the video (6Aug). Gohmert is taking HCQ, Zn, and an antibiotic.

>I’m uncertain of how Jair Bolsonaro is doing. The articles I see now only mention his policies. I saw a video of him shaking people’s hands without a mask at a village and another video of him wearing a mask in a crowd. Their dates are uncertain.

Rep. Louie Gohmert ‘all in’ on using hydroxychloroquine to treat COVID-19
By Emily Jacobs
July 30, 2020

…Speaking to Fox News Wednesday evening, Gohmert (R-Tx.) said that his doctor had prescribed him the medication — which scientific data has shown is ineffective in treating the disease — and would begin a regimen by the end of the week.

Rep. Louie Gohmert talks about his experience with COVID-19
174 views•Aug 6, 2020

KETKnbc
Rep. Louie Gohmert talks about his experience with COVID-19

https://www.youtube.com/watch?v=6MQ5z3ulxSc

#73 VicPaul on 08.07.20 at 7:58 pm

#28 Andrewski on 08.07.20 at 3:44 pm
My experience was so easy. Lost both parents, in their 90’s within 5 months of each other. Mom first, then Dad.

My Dad trusted me, so he had me joint account-holder on all bank accounts, had POA in effect and up to date Will in order, so it was all quick and easy.

*****

That’s encouraging – my Dad has me on title for a couple of his assets – I think, in his zeal to avoid what he views as unnecessary tax burden.
So, this means the assets simply revert to me as sole surviving owner – no taxation?

M56BC

#74 Keith ... on 08.07.20 at 8:09 pm

Hey, I’m doing a lot better than Mick..he’s the one needing surgery for bum valves….smoke up dudes.

#75 Sturgis fun on 08.07.20 at 8:27 pm

So I’m guessing not a lot masks…party on! You going Garth?

#76 ImGonnaBeSick on 08.07.20 at 8:31 pm

#3 Cottagers STAY THE HELL AWAY! on 08.07.20 at 1:22 pm

STAY AWAY FROM COTTAGE COUNTRY YOU INBRED SOUTHERN HILLBILLIES!

—-

Have you ever been to Southern Ontario? There’s not a hill in sight… Please use the appropriate inbred southern rednecks in the future.

#77 Bill on 08.07.20 at 8:45 pm

#64 crowdedelevatorfartz on 08.07.20 at 6:49 pm

Try balancing a cheque book or delaying tattoo number 4 or using the same smart phone for longer than 3 years…….

It really does save you money.
——————————————————————————

Don’t need to balance my accountants do it all.
Hate tattoos
I built cell networks for 28 years. I’ve got the oldest cell anywhere (Dont care)
Telus is my BIGGEST (GREAT) renter pays for more than I could ever need.
So keep using your cellphone so I can pay my accountant.

#78 Billy Buoy on 08.07.20 at 9:01 pm

Best yet die broke with huge debts and your last cheque bouncing.

Enjoy life and give away what you have before you die before anyone gets a nickel for your hard work and sacrifices.

#79 Anna on 08.07.20 at 9:07 pm

If someone names you as executor of their estate – can you refuse the role?

Of course. – Garth

#80 crowdedelevatorfartz on 08.07.20 at 9:29 pm

@#77 Bill

“Don’t need to balance my accountants do it all.”

++++

Soooooo yourrrrr one of the “elites” you speak about.

No Tats either. I find them repulsive.

My phone is 7 years old I wont be upgrading it until I absolutely have to…
Sorry my phone service plan is with Shaw.
Same expensive rates/ different extortion racket.

#81 crowdedelevatorfartz on 08.07.20 at 9:32 pm

@#74 Keith
“bum valves”

+++

Is that a British “thing”?

#82 Paul Rovers on 08.07.20 at 9:36 pm

#69 Bytor the Snow Dog on 08.07.20 at 7:16 pm
DELETED

Apparently, personal responsibility doesn’t extend to an obligation to post responsibly and coherently on a free blog.

#83 tbone on 08.07.20 at 9:49 pm

If you have joint account with the parent it gets real easy
to split proceeds . Just make sure you can trust your siblings or set up the account so all signatures required to make withdrawls .
After the funeral , split proceeds and then you never have to see your siblings again .

#84 R on 08.07.20 at 10:16 pm

Never underestimate the ability of the Toronto Makebeliefs to disappoint !

#85 Keith on 08.07.20 at 10:30 pm

#81 crowdedelevatorfartz on 08.07.20 at 9:32 pm

@#74 Keith
“bum valves”

+++

Is that a British “thing”?
..
That would an arse valve… your mind is a gutter.

#86 Bill on 08.07.20 at 10:34 pm

#80 crowdedelevatorfartz
———————–
Lol those cell companies know how to charge.

I dont need CERB thats for sure.
I run all my stuff till it dies or is unusable. I get my moneys worth.
All of my vehicle’s are second hand.
Keeping up with Jone’s…no thanks.

And Garth I need to get a will or my family will be living in wholly hell.
Thanks for the reminder. Bloody procrastinator.

#87 mike from mtl on 08.07.20 at 11:09 pm

#77 Bill on 08.07.20 at 8:45 pm
…Try balancing a cheque book or delaying tattoo number 4 or using the same smart phone for longer than 3 years…….
///////////////////////////////////////////////////////////////////

Funny you mention that, I’ve got the same phone as Bezos (iPhone X) which I still consider new. He could well afford to buy a brand new phone every hour, every day, but does it because it offers zero benefit.

Ever since I’d say the mid 2000s personal technology has little major advancement, unless you NEED it for business, waste of money. It is not like the 80s or 90s where the computer you bought could do tasks in literally half or fractions of times for casual use.

Priorities, our modern consumerist society is built upon, I am not a good citizen.

#88 Ronaldo on 08.07.20 at 11:24 pm

#61 SoggyShorts on 08.07.20 at 6:32 pm
#36 Trojan House on 08.07.20 at 4:15 pm
2 SoggyShorts on 08.07.20 at 1:07 pm

Social distancing actually came from a 13 year-old’s science project. Her dad was a doctor at WHO during SARS in 2003 and they (her dad and her) had been discussing how to prevent spreading the disease and she came up with distancing from each other. Don’t believe me? Look it up.
********************
It’s MUCH older than that, going back at least as far the 1930’s for tuberculosis.
Don’t believe me? Look it up. heh.

But I wouldn’t mind a link to that theory you posted, my Google-Fu didn’t find it.
—————————————————————–
Goes back much further

From Wikipedia:

Although the term was introduced only in the 21st century,[13] social-distancing measures date back to at least the 5th century BC. The Bible contains one of the earliest known references to the practice in the Book of Leviticus 13:46: “And the leper in whom the plague is… he shall dwell alone; [outside] the camp shall his habitation be.”[14] During the Plague of Justinian of 541 to 542, Emperor Justinian enforced an ineffective quarantine on the Byzantine Empire, including dumping bodies into the sea; he predominantly blamed the widespread outbreak on “Jews, Samaritans, pagans, heretics, Arians, Montanists and homosexuals”.

#89 Ronaldo on 08.07.20 at 11:36 pm

#56 Indi Girl

And joint property with a kid is a no-no without proper legal advice. There is a presumption that joint property with no consideration between a parent and kid is held by the kid for the benefit of the estate upon the parent’s death. Surprise! Sure, the kid can rebut the presumption, but lawyers get rich of off that fight.
—————————————————————-
If the property is the principal residence of the parent, how is the principal residence exemption handled in the case of joint ownership with a kid not living with the parents? Are they only able to claim a portion of the home, say half, if it is between a parent and 1 child? What if the parent has the home in joint ownership with say 4 other children. Would the parent only be able to claim 1/5th of the principal residence exemption?

#90 Nonplused on 08.07.20 at 11:48 pm

Cheese and crackers now Karen doesn’t want people riding their street legal motorcycles near her? She must be a real joy to be around.

#91 YVR Expat on 08.08.20 at 12:25 am

For some reason I want to buy a Harley and go touring through Cottage Country. My taxes pay for these roads, time to take advantage.

Just.
Go.
Ride.

#92 Bdwy on 08.08.20 at 1:04 am

Hey you guys with the ancient phones. Its not the phone that costs. Its the plan.

A new galaxy s9 can be had for about 120 bucks with certain cheap plans. Had this one for a year or so. Its amazing. Look at it to unlock. Talk to it when its sleeping. Still fast as the day i got it. A gosh dang miracle the things it does. 120 gets you not much these days, try buying some lumber or windows. A hunk of wood can cost 2x what a blazing fast phone does. Upgrade to 1 or 2 models behind the latest and you get extreme value.

……….
Re. Bum valves.

As a BESc ( mech eng) from a top cdn university i feel i have a good understanding of the design, function and
construction of a wide range of valves , be they rotary, gate, ball, butterfly, check, etc.

Notwithstanding any formal medical training whatsoever, i can can confidently say that bums don’t work that way.

#93 Drew on 08.08.20 at 1:05 am

Only humans could make dying a complicated bureaucratic nightmare.

Lenders should only get paid from the estate once that’s gone you missed your chance. Executors being on the hook isn’t right

#94 Sail Away on 08.08.20 at 3:53 am

Protest this! Haha. Maybe she should try blockading a railroad next.

https://globalnews.ca/news/7257388/protester-paint-life-prison-black-lives-matter/

#95 Toronto_CA on 08.08.20 at 3:55 am

Similar question to above.
My parents have named me executor and honestly living in a different country and how complicated the US Tax system can be – I am a bit concerned at the work and risks.

I don’t want to refuse but I would like to delegate the role to professionals and let the estate pay the fees – is that allowed? Or do my parents have to name the professionals? If I refuse does it go to the courts to name a new one?

Guess these are real questions for experts, not Garth’s non-virus blog :)

#96 Under the radar on 08.08.20 at 5:37 am

Resulting trust
Sometimes a parent transfers property or creates a joint account with one child and later dies . The property passes to the joint owner without probate. This is very common. Whose property is it? – the law presumes the child holds the property in trust for the estate of the deceased parent , so you still need the will to establish the deceaseds wishes ,although you don’t have to probate . The big caveat to this is if there is a contrary intention shown by the deceased that they intended to benefit one child to the exclusion of the others . The law presumes bargains not gifts so where an adult child receives property from a parent for no money or considerations the law presumes the child holds that property in trust for the parent or the parents estate

#97 Sail Away on 08.08.20 at 6:22 am

#95 Toronto_CA on 08.08.20 at 3:55 am

Similar question to above.
My parents have named me executor and honestly living in a different country and how complicated the US Tax system can be – I am a bit concerned at the work and risks.

I don’t want to refuse but I would like to delegate the role to professionals and let the estate pay the fees – is that allowed? Or do my parents have to name the professionals? If I refuse does it go to the courts to name a new one?

Guess these are real questions for experts, not Garth’s non-virus blog :)

—————-

As executor, you can absolutely choose to hire a qualified third party and pay for their work from the deceased’s estate.

It would be prudent to preselect them and have conversations before the time, though.

Nothing wrong with delegating.

#98 Not! on 08.08.20 at 7:26 am

I’ve been though being an executor myself. Let me say that it truly is a daunting task and yes it will consume at least 18 months of your time (sporatically). It is also true that you will most likely be the target of anger and greed. After all no good deed goes unpunished.

There is a lot of good information in this post but there are also some important inaccuracies. If you are considering NOT using a lawyer for a will and/or an institutional executor then you’d be smart to do your own due diligence to make sure you truly understand the process entirely. Otherwise you may well be in for a world of hurt.

#99 maxx on 08.08.20 at 8:30 am

@ #40

Have another slice of avocado toast – it neutralizes bile well.

#100 Handsome Ned on 08.08.20 at 9:20 am

Having no kids, when I croak I want the government to get my entire estate so they can help pay millennials UBI. On second thought I want to die broke. I envision a last fishing trip to Cuba resulting in a massive heart attack after landing a 150 lb. tarpon, with the government having to pay to haul back and bury my 80 year old carcass.

#101 George S on 08.08.20 at 9:26 am

Good advice, as always.

I think that sometimes people make a stupid will to punish their survivors because they don’t like them. It is pretty effective if the people are greedy but it also punishes the innocent too.

As for the people complaining about Harley Davidson motorcycles:
Stop complaining. Go and try one out. You will find out why people like them. Get a life. Maybe the things you like to do are offensive to others (especially your love of complaining).

If there were such things as blogs and discussion forums during past serious events I am sure you would see the same blather from deniers and personal freedom advocates. Just check out all the anti vaccine BS from nitwits about smallpox over the last couple hundred years.

#102 Dharma Bum on 08.08.20 at 9:55 am

The best case scenario would be if parents were completely sane, lucid, and reasonable as they slip into the hell of old age, and systematically liquidate all their real estate and business assets, and consolidate the proceeds into one or two investment accounts, and then, while still alive, sane, lucid, and undemented, gift a portion of it to their offspring, and just leave enough in their balanced and diversified investment accounts to fund their own care (housing, dementia care, nursing care, etc.).
Upon the death of one spouse, the joint account(s) with right of survivorship transfer to the other spouse. Easy peasy.
Upon the death of the remaining spouse, the contents of the account(s) go to the heirs named in the will.
No selling, cleaning, auctioning, sorting, searching, finding, splitting, accounting, or calling the junk man.
The above scenario sounds like a fantasy, but it is totally doable. However, it relies on the old folks being super reasonable and enlightened, and on the same page. They need to be forward thinking visionaries who have their children’s best interests in mind. Unfortunately, there aren’t too many old couples (or parents in general) that think this way. Most are as fearful, selfish, greedy, and shortsighted as their children are. Hence, a huge ugly mess typically ensues. Dysfunctional families become estate settling quagmires.
The saddest thing is, the majority of these situations involve families who are practically bare ass broke anyway, and the hillbilly kids end up fighting over the pittance of equity left over in some rathole of an encumbered shite shack.
So much fun, death.

#103 crowdedelevatorfartz on 08.08.20 at 9:59 am

@#85 Keith
“That would an arse valve… your mind is a gutter.

+++

My mistake.
Personal interest since I may graduate from elevators to Hockey stadiums.
Apologies.
I wasnt thinking clearly.
International Beer Day yesterday.
I take that day very seriously.
Overindulged.

#104 crowdedelevatorfartz on 08.08.20 at 10:11 am

@#92 Bdwy
“a wide range of valves , be they rotary, gate, ball, butterfly, check, etc.”
++++

I’ve installed many types of valves over the decades in my former occupation as a power engineer.
Keith’s “bum valve” had me intrigued.
Professional curiosity and all that.

As for extortionist phone plans…..dont get me started.

#105 crowdedelevatorfartz on 08.08.20 at 10:20 am

@#100 Handsome Ned
“I envision a last fishing trip to Cuba resulting in a massive heart attack after landing a 150 lb. tarpon.”

++++
150lbs.
Pfffft.

Save the customs hassle.
Catch a 1000lb Tuna in Canada.

https://peibluefintunacharters.com/

#106 kingston boy on 08.08.20 at 10:35 am

@#84 R on 08.07.20 at 10:16 pm
Never underestimate the ability of the Toronto Makebeliefs to disappoint !
——————-

um

#107 Ni on 08.08.20 at 10:42 am

A QUESTION RE: BEING AN EXECUTOR: I am my parents’ executor for a complicated will. If I hand the management of the estate over to a bank or a lawyer, (A) do I still retain the executor position, or (B) will I be understood to have forfeited the executor position, so that the next person listed as the substitute executor becomes the official executor? [Thank you for insights here.]

#108 J on 08.08.20 at 11:06 am

You mention that terminal tax filing has to be done within 6 months. We’re working on my mom’s estate and we’re unable to file as we’re waiting on her CPP tax slip which we’ve notified CPP of her passing. Her accountant has indicated that COP can take up until March of next year to send and we can’t file her 2020 taxes without it. So we will be at least a year from death before we can file if they take that long. Ironically we received the CPP death benefit in 6 weeks.

#109 Tbone on 08.08.20 at 12:14 pm

Re 102 Dharma
That is exactly what I did , sold my dads house while he was in long term care , money went into joint account , brother and I Split proceeds . Was very easy as my brother is reasonable unlike his wife .

#110 Sail Away on 08.08.20 at 12:27 pm

#107 Ni on 08.08.20 at 10:42 am

A QUESTION RE: BEING AN EXECUTOR: I am my parents’ executor for a complicated will. If I hand the management of the estate over to a bank or a lawyer, (A) do I still retain the executor position, or (B) will I be understood to have forfeited the executor position, so that the next person listed as the substitute executor becomes the official executor?

————–

You only have two options:

1. Refuse to act as executor, or
2. Act as executor

If you refuse, the other named executor will act, or if there’s no other named executor, the courts will appoint one. You won’t get to choose the appointed executor.

If you have another party handle the affairs for you, compensated from the estate, then you are acting as executor. This is fine.

#111 SoggyShorts on 08.08.20 at 1:31 pm

#88 Ronaldo on 08.07.20 at 11:24 pm
#61 SoggyShorts on 08.07.20 at 6:32 pm
#36 Trojan House on 08.07.20 at 4:15 pm
2 SoggyShorts on 08.07.20 at 1:07 pm
Goes back much further
*****************
ah of course- I never think to look to the bible for facts, but yeah, records of social distancing must go back at least as far as leprosy. There’s probably some Egyptian hieroglyphics somewhere too.
So….. not invented in 2003 by a little girl then.

#112 SoggyShorts on 08.08.20 at 1:38 pm

#110 Sail Away on 08.08.20 at 12:27 pm
#107 Ni on 08.08.20 at 10:42 am

If you have another party handle the affairs for you, compensated from the estate, then you are acting as executor. This is fine.

********************
This is what I think my brother and I will do. Right now he’s listed as being in charge of everything, but when the time comes, if it’s a hassle, I’m totally fine with him hiring a pro.

#113 Entrepreneur on 08.08.20 at 5:07 pm

Informative blog today and the comment section helpful. Why are the laws here so on top of one another, making it hard for the average citizen? Just like taxes and income tax. Obviously not trying to help us.

I like simple and easy as it should be.

Yesterday a blogger mentioned that Victoria is a cesspool, people being ignored. VI is a cesspool from top to bottom.

We have forest but the logs are shipped away, and most saw mills are closed or slowed down. The deer live in towns with the people and the cougars are hungry (no sustainable food in the bush.)

I actually feel sorry for the marmots that get released every now and then up in the mountains hoping for a come back. Yeah right, food bait. Open your eyes.

Oceans, pretty to look at, taxes are higher for that view but you all know how our oceans are doing. Keep taking those pictures.

Our majors and premiers can’t outsource our jobs for now because of the virus restrictions so we might get a paying job. The leaders have to resort to a Canadian taxpayer, omg.

And the Banks, what kind of a business can operate like this without the help of the government and other agencies. And now with the virus restricted to locals not only for housing but for universities, colleges, businesses.

The gates are up (restrictions in the forest) and know where TurnerNation is coming from, that lost of freedom and total control. We have tons of gates and Campbell River next. Slowly at first then more and more.

Oh, I forgot, to keep the economy up.

#114 kingston boy on 08.08.20 at 5:22 pm

@#113 Entrepreneur on 08.08.20 at 5:07 pm
Informative blog today and the comment section helpful. Why are the laws here so on top of one another, making it hard for the average citizen? Just like taxes and income tax. Obviously not trying to help us.

I like simple and easy as it should be.

Yesterday a blogger mentioned that Victoria is a cesspool, people being ignored. VI is a cesspool from top to bottom.

We have forest but the logs are shipped away, and most saw mills are closed or slowed down. The deer live in towns with the people and the cougars are hungry (no sustainable food in the bush.)
0——–

grim POV

#115 Renter looking to buy on 08.08.20 at 5:34 pm

Guys – does anyone know when mortgage deferral announcement is due? Waiting for more listings to hit market per Garth sir’s recommendation

#116 David Greene on 08.08.20 at 6:37 pm

Here’s another simple tip for preparing for POAs, executorships, etc.

Organize and locate as many papers/documents ahead of time as possible. Long before anyone dies, make sure you’ve properly collected, indexed, organized, their:

– Bank account numbers/transits/statements
– Brokerage account numbers/statements/papers
– Canada Revenue account info inc. logon info
passwords/PINs etc.
– SIN numbers (Most people never think of this)
– Pension documentation
– Tax returns/documents
– Chequbooks
– Credit and debit card details (incl. the cards themselves)
– Contact info for the deceased’s accountant, bookeeper, financial advisor, banker etc. Verify all these, because plenty of them will be out of date and no longer valid.
– List of Assets (They do have one, right?)
– Any computer data files/user account info. incl. passwords which might be needed.

Then it’s a good idea to make a master list of all this info, and where it’s kept. If it’s strewn across 5 locations, make sure to carefully note them, or if possible, store them all in one place.

We’ve already done this for my Mom, so when she dies, at least we know we’re ready for the financial work, with a little less hassles.

When possible, a lot of the communicating, when it doesn’t need nuance, can be done by email. That gives a record of exactly what was said.

For the last bulleted item, I mention it because I know someone whose mother died in Russia, and left her will and other info. on an iPad and….you guessed it…it was password locked.

#117 LP on 08.08.20 at 9:16 pm

#116 David Greene on 08.08.20 at 6:37 pm

To your list I would add instructions about organ donation, if that is desired by the decedent. My mother died last Thursday; she wished to donate her eyes. Unfortunately, due to covid-19 that was impossible.

F73ON

My condolences on your loss. Another milestone passes. None are easy, and thoughts are with you this day. – Garth