The majority of all dementia is of the Alzheimers type and it affects more woman than men. The ‘D’ word is the new ‘C’ word (cancer, shhhhh) and demystifying the ‘D’ word is what awareness is all about. ….
Demystifying the ‘D’ word…… Continue Reading »
Costs, Disability, Elder Care, Family Conflict, Geriatric Care ManagementIn a recent episode of the Starz TV show The Girlfriend Experience, an unusual estate administration issue arose (mild spoilers ahead). The show tells the story of Christine Reade (Riley Keough), a law student and intern who secretly moonlights as a high end escort in Chicago (a thinly disguised Toronto serves as the shooting location). One night, Christine gets a call from Peter Gramercy, a lawyer for the estate of one….
Is a gift in a will to a fake name valid? Continue Reading »
Estate Administration, Estate LitigationRecently, a fellow blogger wrote about the benefit of post-mortem pipeline transactions to avoid double tax on disposition of certain assets. Briefly, a pipeline transaction is a form of transaction whereby the assets of a corporation are distributed to shareholders utilizing the high adjusted cost base resulting from the capital gains realized on death, rather than as a distribution in the form of a dividend. In this sense, the use….
Post Mortem Pipeline Planning – Business Continuity Continue Reading »
Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Investments, Property, Real Estate, Succession Planning, Tax IssuesA couple of years ago a survey revealed that only 18% of first time executors were aware of the first step in the administration of an Estate – locate the Will….
Where do you look for an original Will and what do you do if you cannot find it?? Continue Reading »
Estate Planning, Executors, WillsAs part of the estate planning process an assessment ought to made of how the income taxes and other liabilities of the client will be met on his or her passing. Often clients will ask whether any of their family members can become liable for their income taxes and other liabilities on their death. The answer is “yes” a beneficiary of an estate who has received property in priority to the satisfaction of the deceased’s liabilities can be called upon to return property received from the estate. This position is subject to the beneficiary having any equitable defenses available to a claim by a creditor or to any statutory protections available…..
JOINT AND SEVERAL LIABILITY FOR TAXES Continue Reading »
Estate PlanningLive in care arrangements can take many forms. How about the exchange of room and board for a student living in with granny and helping her with shopping ?….
