October 2015

Insurance Policies, Separation Agreements, and Death

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The process of separating from one’s spouse is never easy. Beyond the emotional toll, assets must be divided and it may be necessary to make plans for ongoing spousal and child support. Even after a settlement has been reached, death can derail the best laid plans. Such was the case in Dagg v Cameron (Estate), 2015 ONSC 6134. Stephen Cameron died in 2013 of cancer. He was residing with Evangeline….

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Dependant Support, Estate Litigation

Infant Beneficiary of a Family Trust and the Capital Gains Exemption

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Pursuant to the Income Tax Act, to be eligible for the capital gains exemption, the qualified small business corporation share definition includes a requirement that it be held by the taxpayer, or a party related to the taxpayer “throughout the 24 months” preceding sale. Under the circumstances, can an 18th month old beneficiary of a family trust receive a distribution of otherwise qualifying small business corporation shares, sell them the….

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Canada Revenue Agency, Estate Planning, Investments, Succession Planning, Tax Issues, Trusts, Wills

QUALIFIED DISABILITY TRUSTS

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Cooler weather, shorter days, leaves changing colours and, at long last, the Blue Jays playing in the playoffs, are sure signs that Autumn is here and Winter is just around the corner. For estates practitioners in 2015, these are also signs that January 1, 2016 — the effective date for changes to the taxation of testamentary trusts first introduced in Budget 2014 — is also just around the corner…..

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Estate Planning

National Senior’s Day

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October 1 was National Senior’s Day.  This national day was created (by statute called the Celebrating Canada’s Seniors Act, S.C. 2010) to acknowledge the contribution of seniors to Canadian society and to the Canadian economy which this contribution being identified by the sharing of their experiences, expertise and knowledge with other generations and which was declared to be invaluable and ongoing in November 2010. October 1, 2015 was also the….

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Elder Care, Elder Law

Unpacking the Past

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As regular readers of this blog – along with anyone whose profession touches upon any aspect of estate planning and/or administration – know, the discipline is equal parts art and science. Given the credentials of, and work performed by, most contributors to this blog, the technical aspects receive the lion’s share of attention here. Notwithstanding, through both professional and personal experience we’re all acutely aware of the importance of the non-scientific….

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Elder Care, Estate Planning, Wills
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