Logan Marchen CFP RRC - IG Wealth Management

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An interesting read - Should we be relying on assistive technologies vs teaching necessary skills? What do you think?

Ontario reading test scores inflated by assistive technology, report says | CBC News Assistive technology for children with learning disabilities has inflated scores for Ontario standardized reading tests, according to a recent report by the International Dyslexia Association.

How have recent changes affected Estate Planning in Ontario?

I am a BIG supporter of effective estate plans. There are few things with a bigger impact to the people you love and the causes you care about then coordinating your finances and putting your intentions down on paper.

Recently, Bill 245 received royal assent and it contained a handful of important impacts to planning in Ontario.

1. Virtual Signing: While it was introduced as a temporary measure during COVID-19, the ability to virtually sign for wills and powers of attorney documents is now a permanent option. You are now able to virtually meet with a lawyer to prepare your wishes officially, which helps dissolve some of the barriers in preparing an effective (and legally defensible) estate plan.

2. Marriage: Planning on getting married and already have a will? In the past, getting married automatically revoked a will (unless it was specific in considering the marriage). With Bill 245, this is no longer the case and wills continue to be valid, even after marriage. Very important however - this doesn't mean you should ignore your will. Marriage can have impacts in other areas of family law, entitlements and especially on tax planning - so make sure to spend some time reviewing this with a professional.

3. Death of a Spouse: On the other side, spouses who separate but have not yet officially divorced no longer have default property rights (with some conditions). Also, the surviving spouse entitlement has increased from $200,000 to $350,000 for cases where there is no will.

4. Errors and Invalidation: Sometimes, errors in how a official document is executed can invalidate a will or powers of attorney at exactly the wrong time - when it is needed! Thankfully, this bill has provided the courts with some authority to validate these documents as long as its determined to adequately set out the intention of the deceased.

Remember, keep your wills and powers of attorney up to date!
1. New children
2. New property
3. Marriage and Divorce
4. Family Issues
5. Material changes to your wishes, intentions and rules
. are all good times to ensure your wills and powers of attorney are in-line with what you want when you aren't around to provide the guidance yourself.