Tenancy and Equitable Ownership – You Can Have it All!

Can you be a tenant and an equitable owner of a property? Absolutely! Read how you can have it all in Warraich v Choudhry et al, 2019 ONSC 2656. In March 2012, Choudhry purchased a property for $519,000.00. In April 2012, Warraich, one of Choudhry’s friends, moved into the property with his family. As sometimes happens, the friendship broke down. When he was asked to move out, Warraich commenced an….

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Joint Tenancy, Property, Real Estate, Resulting Trust, Small Business, Trusts

Inherited assets and TOSI

While it has been over 18 months since its implementation, we are still learning more about the application of the tax on split income (TOSI) rules.  The Canada Revenue Agency (CRA) provided guidance where shares of a private company are passed on to the children of the deceased. The CRA was asked to comment on how the TOSI rules would apply when the deceased, Mrs. A, the co-owner of a….

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Canada Revenue Agency, Estate Planning, Tax Issues

Hot Stuff!

It is hot out there.  We have had heat advisories  and I hope we have been paying attention.  I called my elderly client  to see how she was doing and she  told me she was not feeling well. I spoke with her caregiver and  asked if her AC was working.  The caregiver said it had not been turned on and they were only using a fan. Yikes!   It was 39….

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Elder Care

Neuroimaging and Capacity

Neuroimaging and Dementia
Technology has increasingly allowed us to peek into the brain, and medical professionals, scientists, lawyers, and laypeople increasingly form opinions of what these images tell us. When it comes to understanding the human mind, humans are more likely to trust brain imaging data as more authoritative and credible than behavioural data…..

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Elder Care, Estate Planning, In the News, Wills

Revival Trusts: Dead on Arrival?

This blog was written by Lara Besharat Benjamin Franklin famously wrote that “in this world nothing can be said to be certain, except death and taxes.” A hundred and seventy-eight years later, the Alcor Life Extension Foundation undertook to disprove this generally accepted inevitability. In 1967, James Bedford became the first person to be cryonically preserved after death in the hopes of someday being brought back to life. For up to $200,000 (not including….

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Estate Planning, In the News, Uncategorized

Celebrity Estate Battles

Families fight.  Celebrities are no different.  If anything, it is always interesting to read how the ultra-wealthy handle their estate planning and what issues arise on their deaths (particularly as there is usually a string of ex-spouses and multiple children involved).  In today’s blog, I discuss some of the legal battles that arose as a result of a celebrity’s poor estate planning. Jimi Hendrix Jimi was a legendary guitarist.  Sadly,….

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Uncategorized
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