This 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, TrustsThis Blog was written by: Alicia Mossington (Godin), Estate and Trust Consultant, Scotia Wealth Management To paraphrase a popular song this time of year: He’s making a list He’s checking it twice He’s going to find out whose naughty or nice … Santa Claus is coming to town He knows when you’ve been bad or good, so be good for goodness sake. Episodes 60-62 of the Canadian True Crime Podcast[1]….
The 2020 U.S. election is over and the votes have been tabulated, and in some counties the votes have even been tabulated more than once. Unless there is some Republican wild card waiting to be plucked out of the proverbial magic hat, then Joe Biden will be inaugurated president of the United States on January 20, 2021, and with President Biden comes a proposed change in tax policy. The headline….
U.S. Estate tax exposure – it’s political! Continue Reading »
Estate Planning, Real Estate, Tax Issues, U.S. Citizen, US TaxesAs we head into holiday season and continue with restrictions on family gatherings, I am acutely aware of how many people will be on their own. I have blogged about isolation and loneliness and I think this year will be particularly challenging for many. Two years ago I had the very good fortune of visiting a Japanese nursing home. I had arranged to meet the president and CEO of the….
Would You Consider a Robodog for Granny? Continue Reading »
Caregiving
Generally speaking, real property (“property”) is often not specifically dealt with in a Will and therefore, it forms part of the residue of an estate. In this case, the executor is generally required to sell the property for cash as soon as possible, but this may not be the best strategy and other options should be considered. First things first, occasionally a client’s recollection is imperfect, so confirming how legal….
