Genuine intergenerational transfers

• • 2 Comments

For many years, non-arm’s length intergenerational transfers of corporate businesses were treated inequitably under the Income Tax Act (ITA).  A transfer of a corporate business between non-arm’s length parties[1] resulted in dividend treatment to the vendor instead of capital gains treatment, precluding the ability to claim the capital gains deduction.  With the inability to claim the capital gains deduction and the loss of the preferential tax treatment for capital gains,….

Genuine intergenerational transfers Continue Reading »

Succession Planning

An Elder Care Planning Framework for Decision Making, Part 2

• • 0 Comments

This blog post on the Elder Care Planning Framework for Decision Making, Part 2, is based on a panel presentation at Elder Law Day in Toronto in March 2023. Participants expressed an interest in using the elder care planning framework to provide context for decision-making and planning. Part 1 proposed the framework as a tool to aid in decision-making for elder care management; read it here. The elder care planning….

An Elder Care Planning Framework for Decision Making, Part 2 Continue Reading »

Capacity Law, Elder Care, Elder Management, Geriatric Care Management, Power of Attorney, Smart Ageing

Tax Implications for Exempt Life Insurance Policies

• • 0 Comments

Today’s blog post was written by Pritika Deepak, an Associate at Fasken LLP. This is Part II of a three-part blog series which provides a high-level overview of some of the tax implications to consider, with respect to certain assets held at death. Part I, which addresses RRSPs can be found here: https://allaboutestates.ca/what-happens-when-a-taxpayer-dies-with-a-registered-retirement-savings-plan/ Part II of the blog focuses on life insurance policies owned at the time of death. Specifically,….

Tax Implications for Exempt Life Insurance Policies Continue Reading »

Estate Administration, Insurance, Tax Issues

Autonomy, Choice and Control

• • 0 Comments

This post was written by Diana Leopardi Consider this question: would you carry an umbrella on a sunny day? A Mandate in the event of incapacity is like carrying an umbrella on a sunny day, with no intention of using it but grateful to have the umbrella in the event it starts to rain. Think of your umbrella as your Mandate in the event of incapacity; you will be sheltered….

Autonomy, Choice and Control Continue Reading »

Uncategorized

What is the Consent and Capacity Board?

• • 0 Comments

Capacity is a key component of estate litigation, especially in guardianship and attorneyship disputes. Questions of when someone has begun acting as an attorney for property and whether a person had the requisite capacity to designate a party as their attorney are some of the ways this issue plays out. Once these questions are raised, the arena in which these disputes are heard, for the most part, is the Superior….

What is the Consent and Capacity Board? Continue Reading »

Capacity Law, Elder Care, Elder Management, Healthcare, Power of Attorney, Powers Of Attorney and Guardianship Disputes

ChatGPT, make me a trust

• • 1 Comment

As we reach the end of this blog series about ChatGPT, I’m reminded of Jeopardy! legend and now co-host Ken Jennings. In the finale of a three-day tournament pitting him against the IBM supercomputer Watson, Ken wrote, as part of his final answer “I, for one, welcome our new computer overlords.” That’s how I’m starting to feel…… In last week’s blog, ChatGPT wrote a will. But that’s relatively straightforward, right?….

ChatGPT, make me a trust Continue Reading »

Uncategorized
Scroll to Top