The Jeffrey Epstein “Plot” Thickens…Last Will and Testament Signed 2 Days Prior to Death!

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Jeffrey Epstein (“Epstein”) signed a will just 2 days before he was found dead in his jail cell, raising new queries about his final days inside the Manhattan Correctional Centre, where he was awaiting trial on federal sex trafficking and conspiracy charges. This new development adds to what is likely going to be a long battle over the estate of the financier and convicted pedophile. While the criminal charges against….

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Estate Administration, Estate Planning, In the News, Wills

Surprise, You’re my Executor!

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This blog was written by Veronique Thomas-Ewen, Associate Estate and Trust Consultant with Scotia Wealth Management When a loved one passes away, it’s challenging for family and friends to process emotionally, let alone face the task of being an executor. But when the deceased has chosen a stranger to be their executor, then what? Careful attention and planning was given to every detail by the Testator as he wrote the….

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Separation Agreements, Support Obligations, and Summary Judgment

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Separation agreements commonly include a requirement that one of the spouses maintains a life insurance policy in favour of the other in order to “secure” support payments (either child support or spousal support). It is equally as common to find out, on the death of the supposedly insured spouse, that she let the insurance policy lapsed, changed the designated beneficiary, or reduced the amount of the policy. What happens next?….

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Contracts, Dependant Support, Estate Litigation, Family Conflict, Separation, Spouse

Changes to a Trust Agreement

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The Canada Revenue Agency recently responded to a ruling request as to whether or not a proposed amendment to a trust agreement could be so significant to cause a resettlement of the trust, or a disposition of a beneficiary’s interest in the trust Before the enactment of variation of trusts legislation, trustees were generally bound to administer the trust according to its terms.  Unless specifically allowed in the trust deed,….

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Canada Revenue Agency, Estate Administration, Executors, Tax Issues

A Stroke of Bad Luck

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If a tree falls in the forest and no one is around to hear it, does it make a sound? Similarly, if someone has a silent stroke and there are not obvious physical symptoms, is it still considered a stroke.  YES it is and it can cause permanent brain damage. A silent stroke or mini stroke is a stroke that occurs without the common symptoms of an ‘overt’ stroke.  We….

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Elder Care

Draft Legislation Released for Changes to Registered Disability Savings Plans

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In the 2019 federal budget, the government announced changes to the rules in the Income Tax Act (“ITA”) that govern registered disability savings plans, or RDSP’s (also referred to in this blog as a “plan”). On July 30, 2019, the Minister of Finance released the draft legislation and explanatory notes for those changes. Under the existing rules, the beneficiary of an RDSP must qualify for the disability tax credit (“DTC”)….

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