Intention Governs the Disposition of RRSP converted to RRIFs

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In the recent application of Boulos v. Duca, 2020 ONSC 1946, the Court considered the issue of what becomes of a beneficiary designation of an RRSP when the account is converted to a RRIF, and no subsequent beneficiary designation is made. Facts: In the 1980s, Yura Nicola Khagek met a married couple, Edward and Nazha Boulos, through their church. Mr. Khagek became close friends with the Bouloses, and often visited….

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Uncategorized

One Conversation Can Make All The Difference

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Last week I shared that as of April 19, 2020, there were 112 long-term care homes in Ontario  impacted by COVID-19 outbreaks and as of April 26, there are now 147 facilities affected with 654 confirmed resident deaths. This number is staggering. What I do understand is that many of these individuals are dying without their families close by.  What I am not sure about is how many had advance….

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Caregiving, Elder Care, Geriatric Care Management, Power of Attorney

One Short Year Ago!

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Today’s blog is being brought to you by guest blogger, Tracy Parkinson, law clerk in the Private Client Services group of Fasken LLP. Thinking now back to what life was like a year ago, I’d say that we were living “footloose and fancy free” although it might not have felt like it at the time.  I can say for certain that if someone had told me that within a year….

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Uncategorized

The Plague and Charitable Bequests

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[caption id="attachment_12694" align="aligncenter" width="900"] Tabernacle by Orcagna, 1359, Orsanmichelle, Florence[/caption] In 1348 the plague hit Florence – and Europe – hard. Half the population died in this densely populated city of 80,000. One result of this mass die-off was 350,000 florins of bequests to one organization, Orsanmichele, a grain market with a miracle producing Madonna shrine.  How much is 350,000 florins?  It was equal to the annual budget of the….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Thoughts on Litigating in a Pandemic

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We are now several weeks into self-isolation, physical distancing, and working from home. Litigating is certainly not top of mind for most people. Moreover, the courts are operating under a limited schedule and will continue restricting the number of matters moving forward well into the summer (jury trials, for example, won’t begin until September 2020 and certain matters will be given priority over others). Many private mediations have been postponed….

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Estate Litigation, In the News, Practice Management

Had A Henson Trust Been Created? Tribunal Was Not Convinced

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Individuals can apply for support through government disability programs such as the Ontario Disability Support Program (“ODSP”) subject to maximums for levels of assets and income. For a single adult with no dependents applying under the ODSP the asset limit is currently $40,000. The OSDP regulations prescribe how assets are determined and creates several exemptions. Monies that are held not available to a recipient because they are held in a….

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Disability, Healthcare, In the News, Uncategorized
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