May 2019

Trust in the Raptors

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Sports/Estates fans, we’re in that period during the year where playoff hockey and basketball overlap with the beginning of the baseball season. A lot of questions come up for fans during this time: He’s making HOW much?How can the team get out of that guy’s contract?What would happen if the Boston Bruins spontaneously combusted in the middle of their playoff game? For this week’s blog, I thought I would cover….

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Contracts, Estate Planning, In the News, Trusts, Uncategorized

Finally, A Nice Passing of Accounts

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Passings of accounts can often be bitter and vicious. However, the case of Daniel Estate (Re), 2019 ONSC 2790 was a welcome “good news” alternative to the standard slugfest. Linda and Ted cared for their elderly neighbours Isabel and Wayne for over two decades. The court noted that their relationship was akin to that of “loyal and dutiful family members.” Isabel and Wayne’s daughter had passed away and they had….

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Attorney Compensation, Compensation, Estate Administration, POA Compensation, Power of Attorney, Powers Of Attorney and Guardianship Disputes

Individual Pension Plans Revisited (Again) – What about Pension Transfers?

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When a member of an employer sponsored pension plan ceases employment, the member may receive a lump sum payment for the commuted value of their pension rights, exposing that member to a significant tax bill, as only a limited amount of the payment can be transferred to an RRSP. There exists the possibility of using the pension payout to fund an IPP. Under the right circumstances this may permit the….

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Business Succession Planning, Canada Revenue Agency, Estate Planning, In the News, Property, Small Business, Tax Issues, Uncategorized

Thinking About Comfort Care

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The sun is finally shining,  we are having double digit temperatures and it is the start of the week.  While today’s blog topic on end of life treatment  may sound like a downer, thinking, talking and preparing for it,  I feel is positive. The New York Times article, ‘How to Make Doctors Think About Death’ is a well written piece by Theresa Brown, a hospice nurse.  It discusses the need….

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Elder Care

Advantages and Disadvantages of Charitable Remainder Trusts[1]

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A charitable remainder trust is an underutilized philanthropic tool where a charity is given a future monetary benefit, while the donor receives immediate tax relief in respect of the charitable contribution. Typically, a donor irrevocably contributes property to a trust for the lifetime of a beneficiary, with a charity being the residual capital beneficiary upon the death of the lifetime beneficiary. The lifetime beneficiary has the right to the income….

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Charitable Giving, Trusts

Undue Influence in Estate Planning

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This Blog was written by: Alicia Godin, Estate and Trust Consultant, Scotiatrust Historically the area of estates was not particularly litigious, but as families and financial circumstances become more complex, litigation involving estates has become more frequent. Frequently touted, but notoriously difficult to prove, is the allegation of someone being unduly influenced in making their Will. A client of mine (let’s call him Derek) passed away leaving behind his (younger)….

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Capacity Law, Estate Litigation, Uncategorized, Undue influence
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