September 2017

CourtCalling The Bar

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A remote court appearance service has been approved for use on the Estates List. Under the Rules of Civil Procedure there has always been the ability to conduct certain court appearances via videoconference. However, court approval has always been required (and the consent of the parties, unless the videoconference was made on the court’s own motion). Recently, the process has been updated. A practice advisory dated March 8, 2017 holds….

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Estate Litigation

Transfer of corporate-owned life insurance

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It is not uncommon to see corporate owned life insurance transferred to a shareholder particularly when the company is being sold. The Canada Revenue Agency (CRA) was asked to comment on a set of facts and their response was no surprise given the relatively new rules in this area of the tax law. X owns 100% of Opco’s preferred shares that have a redemption value of $1 million, an adjusted….

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Canada Revenue Agency, Insurance, Tax Issues

Death, Loss and Hope For Another Year

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While the New Year starts in January, Jews around the world celebrate another New Year, the birth of the universe, 5778 years ago based on the Hebrew calendar. While it is the first of the High Holidays, for many who may not attend synagogue, it may still be recognized and celebrated with family sitting down together for a festive dinner. When there has been a death of a loved one….

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Estate Litigation, Family Conflict, Powers Of Attorney and Guardianship Disputes

Canadian Snowbirds Buying U.S. Property

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Canadian snowbirds flock to Florida to assess the damages caused to their vacation homes following Hurricane Irma. For those who find their homes destroyed by the powerful storm, they may wish to buy new properties altogether.  There are various ways to buy a vacation property in the U.S. and things to keep in mind. Canadian residents who are Non-Resident Aliens of the U.S. (individuals who are not U.S. citizens or….

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In the News, Real Estate

The Endowment Effect

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[caption id="attachment_5640" align="aligncenter" width="463"] St Miguel and the Dragon, 14th Century, Museu Nacional d’Art de Catalunya, Barcelona, Spain[/caption] People value objects more when they own or possess them – or at least when they presume ownership.   In cognitive psychology this phenomenon is called the “endowment effect”.    It’s a concept that was seemingly invented to describe a lot of behaviour related to estates, philanthropy and foundations.   It’s time to give it….

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Estate Administration, Estate Litigation, Family Conflict, Philanthropy/Charitable Giving

What Will your Will Say? Part II

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In a previous post, I shared with you a number of interesting (often odd) requests and bequests in a last will and testament.  Today, I share part two of some of the most interesting last wills and testaments in the last few centuries: Can we communicate with the dead? Harry Houdini is known for his magic tricks and illusions.  He died on October 31, 1926, at the young age of….

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