Criminals Cannot Profit From Their Crimes – Or Can They?
Criminals Cannot Profit From Their Crimes – Or Can They? Continue Reading »
Contested wills, Estate Administration, Estate Litigation, Executors, Family Conflict, In the News, WillsA note on Crypto Currency
Wikipedia defines cryptocurrency (or crypto currency) as a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central banking systems. The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a….
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Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Estate Planning, In the News, Investments, Trusts, Uncategorized, WillsInitial Issues Encountered When Dealing With a Possible Insolvent Estate
Today’s blog is written by guest bloggers, Krista Brown and Tracy Parkinson, law clerks in the Private Client Services group of Fasken LLP. As estate law professionals, when we hear the words “possibly insolvent estate” most of us immediately see a giant STOP sign. A named estate trustee in a Will, or prospective estate trustee where the deceased died intestate (in either case, hereinafter referred to as a “prospective estate….
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UncategorizedWhy Plan For One When You Can Plan For Generations?
This blog was written by Alex Fournier The Trust industry has shifted its focus towards servicing the biggest market segment yet to be seen – the Baby Boomers. With the biggest intergenerational wealth transfer coming, it is the most logical course of action to undertake. In Canada alone, reports speculate that a staggering $1.1 trillion worth of assets will be passed on to numerous generations over the next decade. Although Millennials….
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Estate Planning, Power of Attorney, TrustsThe New Simplified Procedure Rule (Rule 76)
Since it was enacted in 1996, Rule 76 of the Ontario Rules of Civil Procedure has provided for a simplified procedure to streamline claims of relatively modest monetary value. The goal remains to reduce legal costs and speed up the administration of justice. The Government of Ontario made significant changes to the simplified procedure rule effective January 1, 2020 in an effort to increase claims proceeding under Rule 76. These….
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Estate Litigation, In the News, Practice ManagementTOSI and the Estate Plan
Since 2018, the tax on split income (TOSI) rules have impacted common estate planning practices. While much of the TOSI focus is on planning during one’s lifetime, post-mortem planning strategies have also been affected. It follows that a post-mortem planning strategy must now be considered in light of TOSI, as these rules provide specific lifetime and estate planning exceptions. When TOSI applies, the benefits of income sprinkling may be significantly….
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Estate Planning, Executors, Wills