The Procrastinating Client and the Impact on Estates

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Procrastinator – a person who habitually puts off doing things.  Intestate – dying before making a will. These two words in an estate context can make the administration of an estate a nightmare. No one likes to think about death and planning for their death.  However, death is inevitable and, despite incredible advances in science, no one has a crystal ball that tells them when it’s their time.  For a….

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Illiquid Assets and Estate Donations

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Tax relief for an estate donation cannot be claimed until the property is transferred to a charity.  No tax receipt; no tax credits.  If the distribution is after 60 months after death of the donor there is no tax receipt at all.  But what if the estate has illiquid assets that can’t easily be monetized, but may, possibly, be transferred in-kind to a charity? Extended claim period Formally, the tax….

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Estate Administration, Estate Donations, Estate Planning, Philanthropy/Charitable Giving

You’re not my mother!

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A child’s relationship with their parents is complicated. If a child is in extended society care, previously known as being a Crown ward, that’s probably an understatement. But what happens in the unfortunate situation that a child under society care passes away? Nobody likes to contemplate the death of a child, but it raises all kinds of logistical questions. For one, who has the right to make burial arrangements for….

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Estate Administration, Family Conflict, Funeral Planning

Goodbye Queen Elizabeth II

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As I sat down to write my Monday blog, which was going to be on Bill 7, ( the ridiculous plan to have alternate level of care [ALC] patients transferred out of the hospital to anyplace, anywhere or pay $400 daily) instead, I decided to pay tribute to the late Queen. Regardless of one’s own belief in the monarchy, I would say the Queen had a unique presence in many….

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In the News

Digital Assets: Spotlighting Client User Considerations (Part II)

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Today’s blog post was written in collaboration with Adele Ambrose – Student-at-Law at Fasken. This is the second part in a two-part blog series that explores the specific client considerations for digital assets in estate planning. In Part I, we took a look at the digital assets landscape in Canada and examined the legal considerations (and barriers) for managing digital assets in estate planning. From an estate planning perspective, while….

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Contracts, Estate Administration, Estate Planning, Property, Succession Planning

Estates, Mutual Funds Dealers and Conflicts of Interest

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The recent decision of Marrone (Re) by the Capital Markets Tribunal (“CMT”), an independent division of the Ontario Securities Commission, provides an interesting example of the intersection between the professional conduct rules governing mutual fund dealers and estates law as it relates to conflicts of interest. The facts in Marrone (Re) involved a financial advisor at IPC Investment Corporation (“IPC”) who was responsible for managing around $6 million in mutual….

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