This Blog was written by Emily Racine, Estate and Trust Consultant with Scotia Wealth Management As estate planners, we often hear from our clients that they just want a “simple” will. They tell us that they have a “simple” estate and so don’t need any complicated estate planning. Personally, every time I hear this, I begin to tense up. Take it from an estate planner – a simple will does….
Just a “Simple will” Please Continue Reading »
Estate Planning, Wills
Across Canada, the provinces have built safeguards against undue influence into their law regulating wills: if the witness or the witness’ spouse receives a gift of property under the will, that gift is void. Unfortunately, this rule has the potential to disinherit innocent beneficiaries who unwittingly agree to act as witnesses to the will. This was the situation before the Supreme Court of British Columbia in Wolk v Wolk, 2021 BCSC 1881…..
Potential Cost of Witnessing a Will Continue Reading »
Contested wills, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Family Conflict, WillsDo digital assets e.g. cryptocurrencies (such as bitcoin, ethereum) non-fungible tokens, qualify as investments in deferred tax vehicles such as Registered Retirement Savings Plans (RRSP’s), Tax Free Savings Accounts (TFSA’s), Registered Education Savings Plans (RESP’s) and Registered Disability Savings Plan (“RDSP’s). The simple answer is no and maybe. This issue came to my attention recently when a client asked me to assist him with a formal request to reverse a….
Digital Assets and RRSP’s, TFSA’s, RESP’s, etc Continue Reading »
Canada Revenue Agency, Estate Planning, In the News, Investments, RESP, RRSP, Tax Issues, UncategorizedThis month there has been several very interesting announcements relating to Long Term Care. On a Federal level, Kamal Khera is the new Minister of Seniors. Mr. Raymond Cho, continues on as Ontario Minister of Seniors and Accessibility, although I have not heard or seen much from his office. I wonder if perhaps there should be a Minister FOR Seniors rather than ‘of’ Seniors…. There is however some great news regarding….
Improvements for LTC, is it the dawn of a new era? Continue Reading »
In the News
A clinical dilemma: a patient was diagnosed with dementia in the mild-to-moderate stage requested to be discharged home from hospital to live alone despite the opinion of the attorney for personal care and property that the patient is unsafe to do so. The clinical opinion was also that the patient could not live independently safely. This resulted in the need to confine the patient in hospital involuntarily under the Mental….
Dementia, Health Law and Discharge Planning Challenges Continue Reading »
Capacity Law, Caregiving, Disability, Elder Care, Elder Law, Fiduciary Professions, Geriatric Care Management, Guardianship, Healthcare, Power of Attorney, Powers Of Attorney and Guardianship DisputesOne of the concerns about the “estate donation” rules when they were introduced in 2016 is illiquid property would be harder to donate and administer. Perhaps the most challenging type of illiquid property is private company shares. Five years of experience with the system has validated some concerns and produced planning solutions. Pre-2016 The “estate donation” rules, which were introduced alongside the graduate rate estate regime, are a significant departure….
Estate Donations of Private Company Shares Continue Reading »
Estate Donations, Estate Planning, Philanthropy/Charitable Giving