Given the horrific tragedy that occurred last week in Israel, I will not be posting a blog this morning. This week reaffirmed for me the reality that what impacts your loved ones also impacts you.
Thinking about family Continue Reading »
In the News, UncategorizedPart I – Personal Attribution This blog has been written by Pritika Deepak /Associate at Fasken LLP Gifting property or making loans to family members is a common way for individuals to transfer and share their wealth with their loved ones. There are, however, several rules in the Income Tax Act (Canada)[1] (the “Act”), commonly referred to as the attribution rules, which prevent or restrict an individual from “income splitting”…..
No good deed goes unpunished by the CRA Continue Reading »
Canada Revenue Agency, Estate Planning, Real Estate, Tax Issues, UncategorizedOne of the most common philanthropic clichés is that family foundations produce family harmony. I was recently at a forum of advisors to ultra high net worth clients. In a moment of candour, someone asked “has anyone used family foundations to promote family harmony, and has it ever worked?” The answers from the room were uniformly, “yes” and “no”. Despite the myth of philanthropy as a domestic panacea, the reality….
Family Foundations & the Promise of Harmony Continue Reading »
Estate Planning, Philanthropy/Charitable Giving
The Superior Court of Justice issued a new Consolidated Civil Provincial Practice Direction for all civil proceedings effective as of June 15, 2023. In addition, the Brampton court office has adopted new procedures for civil matters designed to lead to a more effective use of court time and resources…..
Brampton’s Civil Court Procedure – An Update Continue Reading »
Courts, Estate Litigation, Practice ManagementA recent Toronto Star article[1] highlighted what has become a bit of an interesting viral trend in the modern internet era: “scorched earth” obituaries, written by one or more of a deceased person’s relatives, who do not have anything nice to say in their send-off of the departed. The article provides a few highlights from recent examples, including an obituary prepared by a deceased woman’s children that said “they understand that….
Dearly Departed…or not? Continue Reading »
Estate Administration, Estate Planning, Family Conflict
Autumn is here, and as we prepare for the Canadian Thanksgiving weekend, it is a good time to reflect on how we are coping as busy professionals. In the last few years, the COVID pandemic has changed many things at work and at home. Estate planning professionals are busy with the ever-increasing aging population, and the demand is growing. The same impact is felt by professionals in health and community….
Give Thanks and Press the Pause Button … Continue Reading »
Elder Management, Smart Ageing