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….
A Stroke of Bad Luck Continue Reading »
Elder Care
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”)….
Draft Legislation Released for Changes to Registered Disability Savings Plans Continue Reading »
UncategorizedThis blog was written by Justin Ecclestone, Associate Estate and Trust Consultant with Scotia Wealth Management In this blog post I wanted to share an experience I had with a client. In my role, I meet with people from all walks of life. I’ve met with business owners, retired professionals, working professionals, widows and widowers as well as those who have received the majority of their wealth through inheritance. It….
Uncovering the Reasons Behind Planning Choices Continue Reading »
UncategorizedVariation(s) of a trust agreement, after it is settled, does carry the risk of causing a resettlement of a trust or a disposition of a beneficiary’s interest in the trust, with serious tax consequences. But not all variations lead to resettlement, fortunately. Recently in an advance ruling, the Canada revenue Agency (“CRA”) was asked to consider whether a trustee seeking to amend a trust agreement for the appointment of the….
Trusts and Trust Resettlements – Variations and Circumstances Continue Reading »
Canada Revenue Agency, Disability, Estate Administration, Executors, Guardianship, Spouse, Tax Issues, Testamentary Capacity, Trustee, Trusts, UncategorizedOur friend recently told us that his sister had done a DNA genetic test with one of the companies that provides ancestry and health information. What she found out was not what she was expecting at all. No, she does not have ‘royal’ roots but she does have twin half brothers that she did not know existed. It turns out that my friend’s mom had, before she married his father,….
Ignorance is Bliss Continue Reading »
Contested wills, Estate Administration, Estate Litigation
The Aretha Franklin estate saga has taken another interesting turn this week, with a Michigan Probate Court making an order for a handwriting analyst to review one of her holograph Wills. As Lara Besharat explained in her detailed blog post on May 23rd, Aretha died in August of 2018, leaving behind three handwritten Wills, two of which were dated 2010, and one of which was dated 2014. The two Wills….
R.E.S.P.E.C.T…..the handwriting analysis? Continue Reading »
Estate Administration