O'Sullivan Estate Lawyers LLP
Our Mission: Excellence in providing trust and estate solutions in a responsive and personal manner to carry out your objectives and ensure your peace of mind.

Estate planning Archives

Digital Assets: Modern Realities Versus Lagging Legalities

Our digital asset inventories - electronic tools, digital currencies, files, and various online accounts - continue to grow. Five years ago, the McAfee Digital Assets Survey estimated that Canadian consumers valued their digital assets at over $32,000 per person, which is not an insignificant matter from an estate administration perspective, and one which, as this post explains, requires urgent attention from Canadian lawmakers. Digital assets are different from tangible property that traditionally comprises an estate. Aside from the practical hurdles of transferring digital assets, such as the ability to locate and access them, some digital assets, especially those stored on or associated with online accounts, can also be subject to legal hurdles.

The Common Reporting Standard - What's in Store

July 1, 2017 is not only Canada's 150th birthday and a cause for great celebration, which we are eagerly looking forward to. It is also the date that Canadian financial institutions must have in place appropriate procedures to provide information to Canada Revenue Agency on financial accounts held by non-residents of Canada, which will begin in 2018.

Keeping Things Up-To-Date

Putting estate planning documents in place can be a daunting task, but it does not end there. Estate planning is an organic process that requires ongoing attention and revision. Circumstances in your life will continue to change and your main objective is to ensure that your wishes and intentions are properly reflected in your plan and documents, both upon incapacity or death. What meets your financial and personal needs now may not do so in the future, so it is important to continue to review your documents, in particular when your circumstances change.

We are a top-ranked and peer recognized firm, including Margaret O’Sullivan by Chambers Canada High Net Worth 2018 as one of the top six private client lawyers in Canada

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  • Top Ranked HNW Chambers 2018 Margaret O'Sullivan
  • Recognized in WHO'S WHO LEGAL | WWL
  • Recognized in WHO'S WHO LEGAL | WWL | Canada 2017
  • The | Law Reviews | Expert Panel 2018
  • Top Ranked Canada Chambers 2017 Margaret O'Sullivan
  • The Law Reviews | Expert Panel 2015
  • Step | Canada | Advising Families Across Generations
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