February 2018

Know Your Client

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This Blog was written by: Liz Bozek Most countries, including Canada, have anti-money laundering (AML) policies, and many require that all financial institutions strictly abide by those policies to support efforts against financial crime. At the heart of these compliance measures is the ever-increasing need that institutions and professionals know exactly who their clients are and where their money comes from. “Know your client”, or KYC as it is commonly….

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Practice Management, Uncategorized

Buying the (Family) Farm?

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This blog was co-authored with Ronald Neal, student-at-law. John the Farmer wanted to buy the family farm after his mother died. His siblings wanted to sell it on the open market. In Janicek v. Janicek, 2018 ONSC 681, the court had to decide which outcome the will dictated. Background The Deceased passed away on October 11, 2012 and left the fate of the family farm in the hands of her….

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Trustee, Wills

SHAREHOLDER REMUNERATION PLANNING

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Business owners-managers put money in and take money out on a regular basis during the year, and at the same time often use the business bank account for what may appear to be personal expenditures. This often leads to shareholder advance balances at year end and some major bookkeeping challenges to boot. These balances are often part of the consideration to determine shareholder bonuses and dividends at year-end, the characterization….

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Canada Revenue Agency, Canadian and US Tax Treaty, Estate Planning, Investments, IRS, Small Business, Tax Issues, Uncategorized

Crisis in Long Term Care

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THE WHAT: Recently on most days newspaper articles are highlighting some injustice or abuse regarding seniors living in Ontario’s Long Term Care facilities, commonly known as ‘nursing homes’ or ‘old people’s home’. This is a major problem facing society and one that we must get under control.  Last week’s Marketplace Crying Out for Care exposé highlighted abuse amongst residents in many facilities within Ontario. Frankly, it likely caused nightmares for many….

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In the News

No Good Deed Goes Unpunished

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The phrase “No good deed goes unpunished” is often attributed to Clara Boothe Luce, an American Dramatist, who was the first American woman appointed to a significant ambassadorial post abroad. Today it is often used to express the idea that beneficial actions often go unappreciated or are met with hostility.  The decision of the Ontario Court of Appeal in Teixeira v. Markgraf Estate, 2017 ONCA 819 no doubt left Arlindo….

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Elder Care, Estate Administration, Estate Litigation, Trustee

Charity v. Benevolence

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Last week I received two inquiries from caring colleagues hoping to help individuals in need.  One person had cancer and had lost his business, while the other was a sick child who perhaps could benefit from her own charitable foundation.  As heart-rending as these stories are, neither qualify as “charity”.   Both are forms of benevolence. Charity and benevolence are confused all the time.  Simply, benevolence is support of an individual….

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Charitable Giving, Estate Donations, Philanthropy/Charitable Giving
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