November 2021

Name That Charity!

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“Name That Charity” sounds like a failed 1960s game show. Instead, it is an approach to estate planning that paradoxically may discourage charitable giving. This is an observation made by Kathy Hawkesworth of the Edmonton Community Foundation in a recent presentation to the Society of Estate and Trust Practitioner (STEP). Kathy’s point is financial advisors and estate lawyers often put their clients on the spot. Do they have charitable interests?….

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Charitable Giving, Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized

The executor’s year – taxation “not made” simple

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Determining the bearer of the tax burden on income earned in an individual’s estate is not as simple as one might think. There are some basic taxation rules that apply to an estate which result in either the estate or the beneficiaries becoming ultimately liable for the tax. The tax burden An estate is responsible to pay tax on the income earned from assets held by the estate where the….

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Canada Revenue Agency, Estate Administration, Executors

A universal language

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All of us have our share of stories, sadness, struggles and hopefully successes. Last night  I was watching one of the Korean series that I have been enjoying and it highlighted the story of a gentleman with dementia who had been abandoned by his family. The scene opens with this older gentleman repeatedly asking the staff at the facility where he was living to take him to this particular restaurant…..

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Caregiving

Stripping Assets Out of Corporations; Will Drafting Considerations

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Imagine you have an interest in a privately held corporation, which corporation’s underlying assets include a valuable art collection. Perhaps on your death you would like the art collection, or certain pieces, to be given to your closest friend, with the remaining assets (represented by the shares in the corporation) being given to your family. From an estate planning perspective, you have to consider whether the art collection can be….

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Estate Planning, Wills

The Sale Must Close

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In a Will challenge proceeding, the Court in Lugarich v. Fabris, 2021 ONSC 7294, considered the interlocutory issue of whether to authorize the estate trustee appointed pursuant to the challenged Will to complete the sale of a residential property, or whether an estate trustee during litigation should be appointed to close the transaction. The Facts:  The Deceased died on December 6, 2019, leaving a Last Will and Testament dated November….

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Uncategorized

November is Falls Prevention Month

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“Which is the deadliest room in the house?”  Of course, falls can occur anywhere and at any time, so the best approach is prevention. Accreditation Canada  requires organizations that provide home care services to incorporate falls prevention as part of their staff training. Generally, safety proofing the home includes identifying and then correcting tripping hazards such as improving poor lighting, removing or taping down scatter rugs, and removing telephone/electric cords….

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Caregiving
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