Flipped property – estates beware

• • 0 Comments

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 sold at a price higher than its fair market value on the date the individual died.  Prior to 2023, the….

Flipped property – estates beware Continue Reading »

Estate Administration, Executors, Real Estate, Tax Issues, Trusts

Revisiting the importance of language when using multiple wills

• • 1 Comment

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 not require probate from the primary will so that the total value of assets requiring probate is reduced. However, if….

Revisiting the importance of language when using multiple wills Continue Reading »

Credibility, Estate Planning, Executors, Property, Real Estate, Succession Planning, Uncategorized, Wills

The Overlooked Donor

• • 4 Comments

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 donated (a holding company that owned an operating company with 27 rental apartments).  But her life situation is shared by an….

The Overlooked Donor Continue Reading »

Uncategorized

The Vexatious Litigant

• • 0 Comments

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 ONSC 811 (“Colbert”) going so far as to declare the respondent in question a ‘vexatious litigant’. The term ‘vexatious litigant’….

The Vexatious Litigant Continue Reading »

Estate Litigation

Game Changers in Managing Care: Powers of Attorney for Personal Care (POAPC) & Substitute Decision Making

• • 0 Comments

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 trigger to deliver more productive outcomes for people? The Power of the Powers of Attorney for Personal Care (POAPC) &….

Game Changers in Managing Care: Powers of Attorney for Personal Care (POAPC) & Substitute Decision Making Continue Reading »

Capacity Law, Caregiving, Elder Care, Elder Law, Elder Management, Estate Planning, Geriatric Care Management, Smart Ageing

ALL SHOOK UP – LISA MARIE PRESLEY’S AMENDMENT VS. VALIDLY EXECUTED TESTAMENTARY DOCUMENTS IN ONTARIO

• • 2 Comments

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 public memorial service was held for Lisa Marie at Graceland, news broke that the mother of the late Lisa Marie….

ALL SHOOK UP – LISA MARIE PRESLEY’S AMENDMENT VS. VALIDLY EXECUTED TESTAMENTARY DOCUMENTS IN ONTARIO Continue Reading »

Uncategorized
Scroll to Top