As we are living longer, more and more of us will find ourselves alone and without family. And yes, it is possible that a financial institution as POA can be your best support. ….
The ‘Sister Act’ Continue Reading »
Elder Care, Geriatric Care Management, Power of AttorneyThe Succession Law Reform Act (“SLRA”) provides that if a married person dies intestate, the first $200,000 (called the “preferential share”) of the deceased’s net estate goes to the married spouse[i]. Any funds remaining after the payment of the preferential share is shared among the spouse and children. In Re Estate of Richard Lewis Crane (“Crane”), the deceased died intestate. He left a second wife and two sons from a previous marriage. The….
Which Comes First: Preferential Share or Mortgages? Continue Reading »
Estate Administration, Estate Administration and Probate Applications, Real Estate, Spouse, Succession PlanningThe Canada Revenue Agency was recently asked if income or capital from a proposed spousal trust that was to be used to pay life insurance premiums on a spouse’s life would disqualify the trust from ever being a spousal trust eligible for rollover of property upon creation of the trust.
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Spousal trust and life insurance Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Planning, Executors, Insurance, Spouse, TrusteeAs winter finally sets in for us Canadians and our Canadian snowbirds begin to head south, we often see an increase in interest among our clients with the concept of owning a home in the southern USA. While the Canadian dollar may make this somewhat unattractive at the moment and perhaps for the foreseeable future given some recent forecasts, there will always be deals to be had and emotional decisions to be made. As a result, I take this blog as an opportunity to remind readers of the implications of owning a US vacation property…..
FLYING SOUTH FOR THE WINTER Continue Reading »
Estate Planning, Real Estate, United States, US TaxesShould we be suspicious of friendly neighbours who offer a helping hand to a senior? What may start out innocently and with good intent does not always stay that way…..
When the Best of Intentions becomes Financial Abuse Continue Reading »
Compensation, Elder Care, Family Conflict, Undue influence