Darrel Hotz, Barrister & Solicitor

03/30/2022

Whether you watch "This Is Us" or not, one of the current storylines showcases an important conversation, that we should all have with our family.

Rebecca has a husband, 3 adult children, and 7 grandchildren.
She also has Alzheimer's Disease.

She has a current will and has made her husband her Power of Attorney for Personal Care.

BUT if he is not able to perform this duty - or passes away before she does - she has also verbally chosen one of her children to step into this role.

Lessons learned:

1. As new health issues arise, you may want to update elements of your will.

2. Appointing at least one person to be your Power of Attorney for Personal Care, and Power of Attorney for Property, are important.

You may choose different people - and you may choose a substitute, in case the first person is unable to fulfill this responsibility.

3. Verbally choosing an individual, in a conversation around the dining room table is a good start.

Your intentions must be in writing - signed and witnessed.

4. Make several copies of your will and POA's, and ensure those who are close to you know where they are located.

Your lawyer will have a blank copy of the document in his possession, but they often do not keep a signed copy, as this is your responsibility.

Any questions?

We can help.

02/18/2022

At first blush, this cover story is about greed, privilege, entitlement, arrogance, and more greed.

BUT on second blush, it is also about an astute, successful businessman who made ONE very poor decision.

He had 4 boys, all in the family business.

And his succession plan could be written on the back of a box of matches.

“You’ll fight it out.”

Yup - and then some!

If you are in a family business, protect yourself and your
legacy.

We can help.

Teodor Libfeld arrived in Toronto with nothing and built a multi-billion-dollar real estate company. When he died, his four sons took over and destroyed the empire he created

01/18/2022

Snowblowers are expensive. Wouldn't it be great to split the cost between some neighbours on your side of the road?

Yup - it's a great idea.

BUT think first - act second.

We can help - with a wide range of business agreements - for both your personal and professional needs.

01/10/2022

Are the December bills coming in?

Is it a big of a juggle?

Have you thought about refinancing your property?

We can help.

01/07/2022

Let's just say that you and your BFF are both tired of "The Grind".
You are both creative, stylish and are thinking about starting up a little business together.
You already know each other's faults, good points, and a few pain points.
WHOA!!!!!!!!
Over a cup of coffee, this all sounds perfect - but entering into a business partnership is a bit more complicated - for better or worse.
Our suggestion:
Sit back - and take some time to flush everything out.
The next step - call us, and we can help you develop a partnership agreement - along with any other necessary business agreements - to make sure that everything goes smoothly.
We can help.

01/06/2022

Are you recently engaged and looking forward to saying "I do"?

Congratulations!!!

Dreaming of a future together should be wonderful and magical.

BUT for one moment - think about the "nitty gritty" if things don't work out.

Cohabitation Agreements or a Marriage Contract may not be sexy - but depending on the circumstances, they can lay the groundwork to open, honest communications about assets, liabilities, and many other issues.

We can help. Virtual appointments are available.

01/05/2022

Were the holidays "the last straw"?

Did you try to "keep it together for the kids", while making a promise to yourself that 2022 will be better?

Are you ready to take the first step?

We are here.

Virtual appointments are available.

08/25/2021

I finished this great book last night.

43 short essays, each beginning with "I Won't"

Examples:

1. I Won't limit myself to friends my own age.
2. I Won't turn my home into a Sweat Lodge
3. I Won't forget to plan my own funeral

Yes, it's a difficult topic, but the book was full of great advice, in a light, non-judgemental tone.

BUT it missed one HUGELY IMPORTANT chapter.

44. I won't forget to have a current will, Power of Attorney for Personal Care, and Power of Attorney for Property.
44A. I won't forget to let those close to me know where I keep these important documents.

"Life is what happens to us while we are making other plans." - Allen Saunders, 1957 (Yes, John Lennon used this quote in "Beautiful Boy" as well)

Do you have a current copy of these important documents?
If not, our firm can help.

08/04/2021

This book is being released on August 17th, and I am adding it to my "to read list.

BUT

While you are trying to put the "fun" back into "funeral", have you given any thought to your "stuff"?

Our firm can work with you to either prepare your will, or to update an existing document. We will also prepare a Power of Attorney for Personal Care, and a Power of Attorney for Property.

Pre-planning your funeral is smart.
Thinking ahead about all the other elements is even smarter :)

06/01/2021

With over 35 years experience, our firm is able to assist you with all your legal services.

A glass of delish cold- brewed coffee is only a bonus ;)

04/23/2021

The door may be open at the good ol' bank of "Mom and Dad" .........

BUT, before you consider selling your home, in a seller's market, and giving your kids part of the windfall, so they can get in the market, have you considered the following:

1. Have you fully considered your future?

Moving out of the city may lower your housing costs, but have you discussed long-term plans, as you both age and health issues may escalate?

2. If you have more than one child - or if this a second marriage for either of you, and there are step-children involved - could issues arise if you are "helping out" one child?

How will you handle a sibling, or step-sibling, who may also have hope for a capital infusion - for a down payment or perhaps another kind of investment?

As you plan your estate, should each child get an equal share - if one of them received a little "financial help" from you beforehand?

3. Do your adult children have spouses or common-law partners?

What if their relationship ends, and they must sell the property in which you may have invested?

It gets confusing.

We can help.

The downtown Toronto condo market continues to bounce back with a vengeance following a full year of steady, pandemic-induced declines, and one of ...

04/05/2021

Great clients write great testimonials!!!