All About Estates’ readers consist largely of professionals working in the areas of estates, trusts, capacity, tax, and elder care specialists. We are lawyers, accountants, financial advisors, social workers, and other people who live in the world of ageing, death and dying. We meet our clients as they plan for ageing, death and dying – or deal with the fall out of those plans (and lack of plans). Grief is….
Having come into force on January 1, 2022, Section 21.1 is a relatively recent addition to the Succession Law Reform Act (“SLRA”). Section 21.1 is a validating provision, which allows the courts discretion to declare a will valid even if it does not meet the formalities of execution set out under section 4 of the same act. Those formalities are as follows: The will must be signed by the testator….
Recent Cases Applying Section 21.1 of the SLRA Continue Reading »
Estate Administration and Probate Applications, Estate Planning, Succession Planning, Wills
Section 270 of the Excise Tax Act (the “ETA”) requires a legal representative of an estate to apply for a GST/HST clearance certificate. This is to obtain confirmation that all outstanding GST/HST owing has been paid and satisfied prior to the final distribution of the deceased’s assets. Indeed, if the deceased was a GST/HST registrant (as an example, was operating a sole proprietorship at the time of death) and had….
Estate & GST/HST Clearance Certificate Continue Reading »
Estate Administration, Estate Planning, Executors, Tax Issues, Trustee
May is National Caregiver Month in Canada and with the spotlight on caregiving, a perfect storm is brewing. Caregivers glue together our fragmented health care and social care services. They provide the majority of care as well. Did you know that more health care occurs in the home than elsewhere? The demand for care is growing as our population rapidly ages and fewer caregivers are available, with smaller families often….
Caregiver Awareness Month – A Perfect Storm is Brewing Continue Reading »
Caregiving, Elder Care, Elder ManagementPart III – Corporate Attribution This blog post has been written by Pritika Deepak, Associate at Fasken LLP. This is the last part of a three-part blog series which provides a high level overview of the attribution rules contained in the Income Tax Act (Canada)[1] (the “Act”). Part I, which addresses personal attribution and Part II, which speaks to trust attribution, can be found respectively at https://allaboutestates.ca/no-good-deed-goes-unpunished-by-the-cra/ and https://allaboutestates.ca/using-a-trust-watch-out-for-attribution/. Part….
Transfers to a corporation can be costly. Beware of corporate attribution. Continue Reading »
Business Succession Planning, Canada Revenue Agency, Estate Planning, Succession Planning, Tax Issues, Uncategorized
I’ve nominated myself to provide you with two highlights from last week’s federal budget announcement, and before I get into the nitty gritty, I provide you with a summary of my qualifications for undertaking this task. My undergraduate studies took a rather meandering path through geography, political science, a few language courses and I ended up with something like a quadruple minor in philosophy, feminist political theory, possibly enough literature….
