National Seniors Day was celebrated on October 1, 2020. I am not sure ‘celebrated’ is the right word. Most of us don’t feel like celebrating these days and should we be so inclined- we are significantly restricted. My wonderful client turned 101 in September and the only celebrants was the client, her caregiver, Ziggy and myself. Certainly quite different than last year’s celebration. We can still ‘celebrate’ in small and….
National Seniors Day Continue Reading »
Elder Care
I recently had a discussion about pour over clauses which sparked my curiosity! After some research I considered in what estate planning context this tool might be used and, as with everything, the pros and cons. In the United States, where pour over clauses appear to be used more commonly, where they are part of an estate “back-up” plan whereby a person establishes an inter vivos trust (“trust”) intended to….
Considering a “Pour Over” Clause? Continue Reading »
UncategorizedThis Blog was written by: Alicia Godin, Estate and Trust Consultant, Scotia Wealth Management If you are frequent visitor to All About Estates, you can likely appreciate the importance of a well-prepared estate plan. The cornerstone of the estate plan is the Last Will and Testament. Many contributors to this blog discuss the importance of a Will, and considerations before, during and after its preparation. There are very specific requirements….
Personhood and RBG Continue Reading »
In the News, Uncategorized, United States
A recent decision by Master Kaufman examines whether a person with a personal interest in the legal proceedings can act as a litigation guardian for a party under a disability. In Shady Saleh v. Mohammed Salehe, the plaintiff, Shady, was his mother’s power of attorney for property. He sought to be appointed his mother’s litigation guardian. Shady alleged that his brother, Mohammed, used a false power of attorney document to….
Who Can Be a Litigation Guardian? Continue Reading »
Guardianship, Powers Of Attorney and Guardianship DisputesFinance stated that the purpose of the revised tax on split income (TOSI) regime, which became effective January 1, 2018 was “to limit the ability of owners of private corporations to lower their personal income taxes by sprinkling their income to family members who do not really contribute to the business.”[1] The objectives related to estate planning generally have nothing to do with income splitting, but families with private companies need to consider TOSI….
Estate planning and TOSI – Part I Continue Reading »
Business Succession Planning, Estate Planning, Tax IssuesWhen I had previously thought of ‘Gift Planning’ I was only considering the Will component, the gift left to a particular charity, once the person had died. I had not fully appreciated all of the challenges that might be experienced when working with the older person while they are still alive. One is always concerned and the donor’s capacity, and the challenges posed when large amounts of money….
Can You Care For Me Today and I Will Leave You My House When I Die? Continue Reading »
Charitable Giving