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Trustees to learn about their role at OPSBA conference continued from p.18 "The first PES in a term is specifically designed as an introduction to the role and provides many opportunities to learn and also meet other trustees from across the province. The pre-symposium workshop is being planned to be specifically ministry training," stated a motion from the five re-elected trustees in giving reasons why the symposium is important. "... in a trustee's first year there are many important conferences, specifically PES in January and the OPSBA Labour Relations Conference in March, that are important to learn about the role of trustee," stated the trustees' report. The cost to attend the Toronto conference is $649.75 per person for Thursday night to Saturday noon. If all 13 trustees attended the pre- and main symposium, the maximum cost for the symposium would be $7,700 with an additional $1,500 estimated cost for three nights' accommodation in separate rooms for the two student trustees. The Thursday pre-symposium is being sponsored by the Ministry of Education at no cost to trustees. The balance in the Halton board's Reserve Account for Trustee Professional Development as of Aug. 31, 2014 was $25,354. The $25,354 was eligible to be spent by the 2010-14 board of trustees as the amount came from the 2006-10 end-of-term rollover of available funds. The five trustees' report noted that professional development related to previous PES conferences, as well as a communication workshop, have been paid for in the past using the account. "It is already anticipated that there will be additions to this reserve (fund account) from trustees' unspent expense budgets at the end of the 2010-14 term," added the trustees' report to the board. Trustee expense budgets run from Sept 1-Aug. 31, the board's fiscal year. Individual elected trustees have an annual expense limit of $5,000. 19 | Thursday, January 8, 2015 | OAKVILLE BEAVER | www.insideHALTON.com WE CARRY A LARGE SELECTION OF VITAMINS, SUPPLEMENTS & HERBS Personalized Tree Care in Oakville GET YOUR TREES PREPARED FOR HAVE YOUR TREES ASSESSED 511 Maple Grove Drive, Unit #11 Oakville ( South of the QEW, East of Trafalgar ) 0 2 g ing hin yth Everyt m ogram with FREE Rewards Progra % OF F THE LEAF TEA in 80 varieties FINEST LOOSE INTRODUCING Green tea, rooibos, oolong, white tea, herb and fruit, black tea, matcha, herbal and wellness tea. PLATINUM FREE Nutrition Consult with purchase of $50 or more. www.walkersvitamins.com Call 289 837-3591 Call Storybook to assess your Trees Today 905-491-6860 ESTATE PLANNING TERR O ATION C O L ON A MILT NLY legal matters What is a Will? Why do I need one? Q a Shop 21 H C R TH - MA 0 1 PM Y 3 R A U M JAN 10A Y A D SATUR 0 from 5 rs! o d n e local v st A "Will" is a document in which you express your wishes for what will happen to your property after death (your "estate"). Wills must be written, signed and witnessed in a particular manner. If you die without a Will, your property will be distributed under the "rules of intestacy." The rules of intestacy are rigid and exclude common law spouses, friends, charities and non-blood relatives from receiving from your estate. Intestacy is not desirable and can often cost far more than a Will, particularly if you fail to adequately provide for people who are financially dependent on you. Children under age 18 do not have full legal rights and cannot receive property directly. You should include trusts in your Will for minor children, so that they receive their inheritances at later ages. If you are a parent of a minor child, you should also appoint a custodian and guardian for your minor child. Special planning is also required for disabled beneficiaries. An "Estate Trustee" (formerly "executor") is named in a Will to administer your estate. If you don't have a Will, no one will automatically be able to deal with your property immediately after your death. Can I get around having a Will by making all of my assets joint? If certain assets are owned jointly, they can automatically pass to a surviving co-owner. This matter can become complicated when you own assets with someone other than your spouse. You should consult with a lawyer before making another person a joint owner on your assets. Adding someone on title to your home may affect your "principal residence exemption" from capital gains tax. You may also be exposing that asset to the other person's creditors, and the other person may use the joint property inappropriately. Can't I just use a "Will Kit"? Why should I pay a lawyer? A "Will Kit" will not review your particular situation, identify areas needing special attention, or draft a carefully-tailored document for your needs. A lawyer can help you identify tax-saving opportunities, make you aware of your legal obligations, and draft clauses which best protect the interests those you love (particularly minor or disabled children). You've worked hard for your money. Consulting with a lawyer can often save huge costs later on, and leave more of that money to those you love. Alexandra Manthorpe Lawyers in your corner: Alexandra Manthorpe is a lawyer with O'Connor MacLeod Hanna LLP in Oakville, practising in estate and trust planning (Wills, Powers of Attorney, trust deeds), business succession planning, and estate and trust administration. Join TERRA and local farmers, artisans, and other local vendors at the TERRA @ Home Winter Market in Milton! Shop for meats, produce, baked goods and unique & specialty food items. MILTON LOCATION ONLY 12800 Britannia Rd. · (905) 876-4000 · www.terragreenhouses.com 700 Kerr Street Oakville ON L6K 3W5 (905) 842-8030 www.omh.ca manthorpe@omh.ca This column is intended for informational purposes only. This column does not replace or substitute any professional, financial, or legal advice.