As some of you may know the late Leona Helmsley, a billionare, left her pet Maltese, Trouble, a $12 million trust fund. Her choice to leave this sum to her pet, was branded 3rd in Fortune’s “101 Dumbest Moments in Business” of 2007. In 2008 a court ruling reduced the…
Month: October 2010
Total 20 Posts
Where the language of the Will is unequivocal and approved by the testator, a court will refuse to rectify a will to match the testator’s true intentions.
By now, most of us have tax-free savings accounts (TFSA’s). Despite some early (and perhaps ongoing) confusion on as to how they work particularly with regard to deposits and withdrawals, TFSA’s appear to be working fine for all those who have them.
Have you thought about what happens to your TSFA’s upon your death?
So you reside in Canada but you’re a U.S. citizen, surely ‘Uncle Sam’ has no right to your Estate on your death. Unfortunately, regardless of whether a U.S. citizen resides in the United States, U.S. citizens are subject to U.S estate taxes when the pass away based on the value of their worldwide estate. A credit is available which does alleviate some of the tax burden by exempting a certain amount from the U.S. estate tax net.
When we were teenagers and our parents allowed us to take the car, they worried about us driving. Now you are worried about them. How do you know if your parent is still able to drive safely? Should they be driving? What should you look for? Who do you contact?
Professionals and lay people have no doubt been part of or heard about the increased awareness of the issues facing the elderly whether vulnerable, capable or not. Most however, are not aware of section 331 of the criminal code.
The paradox of the donor advised fund is its flexibility provides greater certainty that the donor’s charitable intentions will be served over time.
So-called “predatory” marriages may be on the upswing. When will the courts intervene?
While a will serves the purpose there may be reasons for you to look at an alternative way to distribute assets such as an alter ego trust.
In their later years, donors often make commitments to charities with respect to the charitable giving that they intend to carry out during their lifetimes. Often these commitments are expressed by means of the donor and the charity entering into a written charitable pledge agreement.