Digital Assets and RRSP’s, TFSA’s, RESP’s, etc

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Do 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….

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Canada Revenue Agency, Estate Planning, In the News, Investments, RESP, RRSP, Tax Issues, Uncategorized

Improvements for LTC, is it the dawn of a new era?

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This 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….

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In the News

Dementia, Health Law and Discharge Planning Challenges

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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….

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Capacity Law, Caregiving, Disability, Elder Care, Elder Law, Fiduciary Professions, Geriatric Care Management, Guardianship, Healthcare, Power of Attorney, Powers Of Attorney and Guardianship Disputes

Estate Donations of Private Company Shares

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One 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….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving

Increase In House Value Means $1.4 million Gift to SPCA

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For many people who own the house in which they live, their home is the most valuable asset in their estate. In many communities in Canada, house values have steadily increased over the last several years and particularly during the COVID-19 pandemic. This means that the value of an estate may be much greater at the time of the testator’s death than when the testator prepared and signed the last….

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Capacity Law, Charitable Giving, Contested wills, Estate Litigation

Feuding Families

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Why can’t we just get along? While the focus of many disputes has to do with money ( and likely the majority that proceed to trial) , my interest is with the disputes that occur on the care side. What I have seen in my many years working with caregiving families is miscommunication or  lack of communication. The adult children’s hurt feelings of bygone years and perception seems to further….

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Elder Care, Family Conflict
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