Advertisement
It may not suit to be counting your chickens before they're hatched.
Q: My father is marrying a gold digger. How can I make sure my inheritance is protected?
—Worried Willy, Toronto
A: The short answer, according to Toronto wills and estates lawyer Ed Olkovich, is “it’s really none of your business, unless you have a legally enforceable claim to the estate, or your father is not capable of making financial decisions.” For instance, if you put a new roof on the cottage because your father told you that you’d inherit it, then you’d have a claim to get that money back at the time of his death. If, however, you think your dad is being taken advantage of, you could suggest he see a lawyer and get a prenup before he marries his new partner. “But he may not listen to you,” says Olkovich. You can argue that your father isn’t capable of making financial decisions but in truth, everyone is presumed to be capable of making their own decisions unless proven otherwise. “This is one time where it really doesn’t pay to count your chickens before they are hatched,” says Olkovich.
Got a delicate money question? Send it to [email protected].
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Which ETFs should you invest in? Which ones best suit your risk tolerance? What about personal ethics? Check out...
The Trump effect and Trumponomics, Shopify’s huge earnings beat, it’s sunny days for Suncor shareholders and more.
Here’s how to get your free ticket to attend two MoneyShow virtual expos.
Should you be paid as a power of attorney? Learn about the compensation rules in Ontario and how to...
You started investing in your 20s, and you feel pretty good about doing it. But now what? Consider impact...
Want an idea of how much tax you paid—or will be paying—for 2024? Here are the federal and provincial...
The federal government’s capital gains inclusion rate increase has yet to become law. There’s a slight chance it may...
Sponsored By
Coast Capital
