In Roulston v McKenny et al, 2016 ONSC 2377, the deceased’s ex-wife had a claim against his estate if a life insurance policy lapsed. Even though the estate trustee knew that the policy had lapsed, she withheld this information from the ex-wife – and then argued the ex-wife’s claim was…
Month: August 2016
Total 22 Posts
If someone has a second will pertaining to foreign assets, and the domestic executors either do not know about this second will, or cannot deal with the foreign executors on a timely basis, would the status of the estate as a graduated rate estate (GRE) be invalidated if only the domestic executors elected for the estate to be a GRE?
Establishing a scholarship, bursary or other educational award is a popular charitable purpose in estate plans of the charitably-minded. There are two ways to create these awards: 1) establish at an educational institution; or 2) establish at a foundation or charity to target a particular community. Generally educational institutions,…
After approval of the legislation, it did not take long for one of my patients (identity disguised) to request access to MAID. I knew that this was a possibility because of previous discussions regarding the eventual outcome of her debilitating and progressive medical condition. However, it had been couched in…
Do you know what the average cost of care is in Ontario for a hospital stay? How about the cost of care to remain at home with support services provided by the public sector? The figures may surprize you!
Many people transfer assets to an adult child, but they often do not clearly express why they have done so. The transfer may be meant as a gift, a way of avoiding probate fees, or to simply allow access to a bank account so that their child may help manage…
One of the many tasks associated with the administration of trusts is making sure all tax payments are made on a timely basis to protect the trust and its beneficiaries from avoid interest and penalties. In this regard, most trusts are required to make installment payments. Prior to 2016 only…
As part of any administration, it is important for the Executor or Trustee to maintain records of all transactions taking place within the estate or trust
Over the course of my practice I’ve had clients, family and friends all make pronouncements with respect to matters related to Wills and estate planning as if the statements are fact, when in reality they are often myth. Being someone whose profession operates on fact, I will try to set the record straight. From time to time though, the prosthelizer is so certain in his or her “cocktail party advice”, that attempting to set the record straight is challenging. In today’s blog I’d like to debunk some of the myths.
Notice any dings or dents on the car? What happens when someone can no longer drive? Transportation is a major issue for seniors. Losing one’s drivers license triggers many emotions- especially loss of independence. ‘Giving up the keys’ is a common discussion in many households and most often when adult children have concerns about their parent’s driving habit