The Canada Revenue Agency (CRA) recently weighed in on the eligibility for a tax-free transfer of registered retirement savings plan (RRSP) to a beneficiary after the death of the annuitant…..
RRSP transfers after death Continue Reading »
Canada Revenue Agency, Estate Planning, Executors, Separation, Tax Issues, TrusteeA recent decision from the Federal Court of Appeal contains sad news for snowbirds and those who struggle with long, Canadian Winters. In Canada v. Tallon, the Federal Court of Appeal was tasked with determining whether travel to warmer climates could under appropriate conditions be considered a medical service. The taxpayer sought to deduct expenses related to such travel as medical expenses for the purposes of the medical expense tax credit as defined in subsection 118.2(1) of the Income Tax Act (Canada)…..
WARM AIR IS NOT A MEDICAL SERVICE Continue Reading »
Tax IssuesThe Ontario Accident Benefit schedule will be reduced as of June 1, 2016 and claimants who are older than 65 will be negatively impacted. ….
The Older Claimant Continue Reading »
Elder Care, In the News, InsuranceNot all parties involved in estate administration are entitled to apply for a passing of accounts. Section 42(4) of the Substitute Decisions Act (SDA) lists all the people who may apply. While the list does not include estate trustees or beneficiaries of an estate, it does allow the court discretion to give leave to appeal when it sees fit. In Testa v Testa (2015 ONSC 2381) the court explored when….
Entitlement to apply for a passing of accounts Continue Reading »
Estate PlanningAncestry.com Inc. (“Ancestry”), based in Utah, is the largest for-profit genealogy company in the world. In addition, subsidiaries operate in many European countries and also in Australia and Canada. A great many public records are made available through Ancestry, including: birth, death and marriage; census and voter lists; and military. Added to this immense volume of information, millions of U.S. Wills are now available at the site. (No news on….
Millions of Wills now online at Ancestry.com Continue Reading »
WillsToday’s Blog was Written by Jacob Kaufman The Divisional Court has just written another chapter in the ongoing saga of a dispute between two sisters, Erna and Hilda, who have been in litigation against each other since 2003. Erna had acted as attorney for property of her parents since 2002 and as estate trustee of her mother since 2008. In the case of In the Estate of Stefanie Aber, deceased,….
Executor Compensation – The Last Chapter Continue Reading »
Estate Planning