Effective January 1, 2025, all Ontario lawyers in private practice will be required to have a client contingency plan  in the event that they should pass away or become mentally incapable of carrying on their work. We will also review key considerations that professionals may wish to consider when implementing or updating a succession plan.

Without a contingency plan, when a lawyer dies or becomes incapacitated, it can result in situations where a lawyer’s client is suddenly unrepresented; needs to find new counsel on an urgent basis;  and in some cases, misses court-ordered deadlines or limitation periods before the client even knows that their lawyer is no longer able to assist them.

It is important that lawyers, who may not currently have a plan in place, begin to consider steps to ensure compliance by January 1, 2026 and beyond. We will discuss the importance of contingency planning for lawyers; share what documents you need to become compliant;  how to find the lawyer who should act as your plan administrator, or your “backup” along with providing links to some of the many resources available to lawyers who must put such plans into place.

Succession Planning:

•How complying with LSO By-Law 7.1 can be used as your starting point for your succession plan

•Why you need a succession plan as a professional, who to appoint, and their responsibilities

•Difference between personal and professional assets and appointing the right executor, pitfalls when appointing an executor, things to consider

•What happens if you don't put a contingency plan in place.

Presenter: Lisa Laredo, Laredo Law - Toronto

After graduating from the University of Windsor’s Faculty of Law in 2004, Lisa honed her advocacy skills at a criminal law firm in Toronto, before broadening her horizons – both legally and geographically speaking – practising structured finance, asset finance and international law in the German office of a global law firm.  

But it was only when she returned to Canada in 2007 that Lisa found her true calling, helping individuals with every aspect of their estate plans. 

Outside the office, Lisa also plays an active role in the legal community, as a member of the Canadian Bar Association, the Ontario Bar Association, the Law Society of Ontario and the Estate Planning Council of Canada. In addition, she recently obtained certification from STEP Canada via its coveted Trust and Estate Practitioner (TEP) designation.  

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Registration $35 - Recording Available 

No charge for Estate Planning Council of Canada Members

Guests are welcome - this event is for Professional Advisors only.