I am sharing an article that I previously wrote, pre COVID. There are some things that are very different this year and large family dinners (in person) is currently a thing of past; however many of the tips listed are still very applicable when visiting (either in person or by Zoom/FaceTime) with older parents. It is hard for many of us as adult children to watch our parent’s health deteriorate…..
Time to play Detective Santa…. Continue Reading »
Caregiving
In my blog Probate Points to Remember – A.K.A. Names and More – All About Estates of October 16, 2020, I shared from my list of “Probate Points to Remember”. I provided tips regarding how to name individuals, including the deceased, executors and beneficiaries, such as when using “also known as” names, in applications for certificates of appointment of estate trustee (“Probate Applications”). The purpose of the list is to….
Probate Points to Remember Part 2 – Some Additional Tips Continue Reading »
Estate Administration and Probate Applications, WillsCan you donate the residual interest of a principal residence to charity? Absolutely! The question, however, is not can it be done, but should it be done. In most cases, the answer is no – especially for the charity. Structuring Options Let me address the structuring options first. It is possible to donate a home to charity with an intervening life (or term) interest. This means one or more persons….
Residual Interest Gifts of Homes Continue Reading »
Estate Planning, Philanthropy/Charitable Giving, Trusts, Uncategorized
In the recent decision of Hertendy v. Gault, 2020 ONSC 7555, the Court considered a mother’s summary judgment motion to set aside the transfer of her property to her daughter for no consideration. Facts: On October 28, 2011, Marian Hertendy appointed her daughter, Beverly Ann Gault, as her attorney for property and personal care. That same year, Marian signed a Will transferring her property at 837 Poonamalie Road in Smiths….
A Change of Heart Does Not Create a Resulting Trust Continue Reading »
UncategorizedThis weekend, I put down the latest Brandon Sanderson book so that I could read ‘A Perfect Storm: The COVID-19 Experience for Revera and the Long Term Care Sector’ which is a report completed by an independent expert advisory panel. I have blogged about the Crisis In Long Term Care over the years and all of these pre Covid issues- really did create the perfect storm. The panel, which was….
Whose Fault is it Anyway? Continue Reading »
Elder Care
Alter ego trusts (“AET”s) and joint partner trusts (“JPT”s) have a deemed year end on the date of death of the last life interest beneficiary (the settlor for an AET and the last to die of the spouses for a JPT) resulting in the deemed disposition of certain property of the trust as at this date. The tax on the resulting capital gain is due on the trust’s balance due….
Alter Ego and Joint Partner Trusts – Loss Utilization Continue Reading »
Canada Revenue Agency, Tax Issues, Trusts