ESTATE PLANNING AND THE GREAT WIDE WORLD

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This Blog was written by Emily Racine, Estate and Trust Consultant with Scotia Wealth Management  When it comes to estate planning, the cases where all property and beneficiaries can be found within a 10km radius are increasingly becoming few and far between. More and more estates cross not only provincial borders but international borders as well. These estates carry their own set of complexities and require their own set of….

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International

Keeping the Court Happy :)

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The recent case of Lepp v. The Municipality of York, 2022 ONSC 6978 (CanLII) (“Lepp”) is now considered to be a form of required reading for litigants and their counsel. While the facts of the case are not particularly unique, the court’s comments on lawyers’ compliance with the Notice to Profession (effective as of August 2, 2022) (the “Notice”), and general practices as they relate to motions and applications, are….

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Trust and estates beware of the new Underused Housing Tax

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The recently enacted Underused Housing Tax Act[i] (UHTA) applies a one per cent tax on the ownership of vacant or underused housing in Canada. Per the Canada Revenue Agency’s (CRA) published notification[ii] on Jan 17, 2023, “the vast majority of Canadian owners of residential property are excluded owners and, therefore, do not have any obligations and liabilities under the UHTA. However, the underused housing tax is payable by certain Canadian….

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Canada Revenue Agency, Estate Administration, Estate Planning, Tax Issues, Trustee

Looking forward to living a long life…….

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It is still Alzheimers Awareness Month and for those of you who have been following my blogs for the last many years, dementia awareness is very important to me. On October 31 2022, my colleague Sasha Adler blogged about the Canadian Dementia Strategy and shared CanAge’s report card. Today I would like to expand on this topic and share an important podcast that was recently released (January 18, 2023) on….

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Caregiving

Will The Vacant Home Tax Impact Use of the Principal Residence Exemption; Estate Planning Considerations

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  Overview The Ontario government has enabled municipalities to enact a tax on vacant residential units in their regions (Granted under Part IX.1 of the Municipal Act).[1] Each municipality has to pass a By-Law stating the tax rate and conditions of vacancy that, if met, make a property subject to the tax. The Council of the City of Toronto enacted their By-Law, deeming it to have come into force on….

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Estate Planning, Executors, In the News, Property, Real Estate, Tax Issues, Uncategorized, Wills

Chinese New Year – A time to celebrate, plan and eat!

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This blog was written by Jean Yong, Associate Estate and Trust Consultant with Scotia Wealth Management Chinese culture boasts a long and rich history. It is one of the world’s oldest cultures dating back thousands of years and includes a set of social norms and beliefs shared to a varying degree by the Chinese population. Prior to entering the world of estates and trust, I too, was naïve to the….

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