Crypto assets – Canadian or foreign – it matters!

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Crypto assets are intangible digital assets that exist on a decentralized network through distributed ledger technology (DLT) – such as blockchain. A distributed ledger is a type of database that stores electronic records shared and replicated across many locations in numerous countries and maintained by a peer-to-peer world-wide decentralized network. Therefore, the crypto asset is not exclusively situated in any particular country making it difficult for the taxpayer and professionals….

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Estate Administration, Tax Issues

April 5th is National Caregiver Day

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Happy Monday. Last week’s blog stressed the importance of recognizing the gift and sacrifice that Canadians caregivers provide to their family and friends on a daily basis. April 5th is National Caregiver Day when we recognize the nearly 8 million Canadians who care for family and friends who have chronic health conditions, disabilities or functional limitations. Look around, 1 in 4 Canadians provide unpaid care to a family member or….

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Caregiving

Walters v. Walters: Limits to “Absolute Discretion” and Judicial Intervention by: Yvonne Mazurak

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A recent Court of Appeal decision, Walters v Walters, 2022 ONCA 38, addresses a trustee’s requirement to give effect to a testator or settlor’s intentions when exercising discretion with respect to distributions from a discretionary trust. At issue was whether the trustees had improperly relied on extraneous or irrelevant factors when exercising such discretion. The decision, written by Justice Sarah Pepall for the Court, is a helpful read as it….

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Contested wills, Estate Litigation, Estate Planning, Executors, Family Conflict, Wills

Taxation on Cryptocurrency

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This Blog was written by: Dave Madan, Market Lead and Manager, Scotiatrust  We’re well into tax season, but for this year, your review of your taxable transactions may be very different. You might have explored investing or trading cryptocurrency. Buying and selling some Dogecoin after Elon’s tweets does carry income tax implications. Everyone exploring this new age of investment should understand the implications, as well as their advisors looking to….

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Uncategorized

Supporting Caregivers- Every Day

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As we finally say goodbye to March and hopefully our  cold, snowy Canadian weather, I am looking forward to warmer days and resuming our new normal, whatever that might look like.  With April around the corner, our new month starts with National Family Caregiver Day, which is recognized on the  first Tuesday of every April.  Caregiver burnout is a frequent and favorite topic of mine  and a health concern I….

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Caregiving

Has a Contingent Beneficiary Asked for an Accounting?

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An estate trustee does not have an obligation to provide a contingent beneficiary with an accounting; nonetheless, some form of accounting is generally done at the request of a contingent beneficiary. If accounts are not provided, a contingent beneficiary may bring an application to compel an estate trustee to pass their accounts. This will be costly and may be what the contingent beneficiary is trying to avoid in requesting a….

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Estate Administration, Estate Litigation, Estate Planning, Executors, Passing Of Trustees’ and Executors’ Accounts, Wills
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