While we all may be aware of the dementia crisis that is increasingly heading our way, it often takes a celebrity to truly raise the issue and increase our general awareness levels. I am referring to FTD or frontotemporal dementia and Bruce Willis’ recent diagnosis. Dementia is a syndrome describing…
As the calendar rolls into March and tax slips arrive in the mail, I thought that I would remind blog readers about a provision in the Income Tax Act (the “ITA”) that I think is one of the more insidious ones, namely the so-called “corporate attribution rule” in subsection 74.4…
This blog was written by: Craig Coulson, Senior Trust Officer Many professional estate administrators emphasize the emotional toll and time-consuming steps that are reduced or eliminated when a corporate executor is named in one’s will. Sometimes, beneficiaries may be unhappy with corporate executor fees, perhaps thinking if only they were…
Executors generally liquidate the assets of an estate in a timely manner following an individual’s death. This may include the disposition of the deceased’s primary residence, cottage or rental property (herein referred to as a “housing unit”). An estate may realize a gain on a housing unit if it is…
This blog contributed by Mohena Singh, Associate @ Fasken LLP A long-time practice of estate planners has been preparing multiple wills for clients to minimize the amount of estate administration tax an estate must pay. The general idea of a primary and secondary will is to exclude property that does…
In November 2022, The Winnipeg Foundation, announced a $500 million estate donation from a 66-year-old businesswoman named Miriam Bergen. Ms Bergen is an exceptional example of a common but overlooked donor: the older person without kids. Ms Bergen’s estate is larger and more complicated than most. She owned a business that was…
Litigation can be ugly. Litigation where family is involved, as is often the case in estate litigation, can bring out the worst in people. According to the court, the worst of himself is what one of the respondents brought in the recent case of Colbert v. Colbert et al, 2023…
It’s Super Bowl Sunday as I write this, and in the lead-up to the game, football fans are debating what game changers may be possible to gain an advantage and win. Why not apply the same breakthrough analogy to address critical issues in managing care? What game changers can we…
2023 has started off with many well-known celebrities passing away (David Crosby, Cindy Williams, Jeff Beck, and the beloved Mayor Hurricane Hazel McCallion). The most shocking death, in my opinion, has been Lisa Marie Presley (“Lisa Marie”), who died just days after attending the Golden Globe Awards. Shortly after the…
This Blog was written by: Gali Gelbart, Estate and Trust Consultant, Scotia Wealth Management I recently was part of a cross-Canada presentation hosted by the Estate Planning Council of Canada on the role of spouses in estate matters. I was particularly struck by how different the provincial regimes are, highlighting…