Isle of Trusts

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Spring is (kind of) here and summer is (hopefully) around the corner.  Like every year, Torontonians will no doubt soon make their way to the Toronto Islands during the summer weekends.  A group of 15 islands interconnected by pathways and bridges in Lake Ontario, the Islands are approximately 15 minutes away by ferry from downtown Toronto.  With its beaches, activities, and nature paths, it’s a popular spot for Torontonians to….

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Estate Planning, Property, Real Estate

Significant Tax Re-Assessment Due to An Estate Valuation Gone Wrong

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I have been writing about valuations for estate plan agreements, highlighting that they should be based on fair and reasonable methods, prepared in good faith, properly supported and documented at the time of valuation. In Lewin v. the Queen 2019 TCC 21, The Lewin Estate was appealing a significant tax reassessment of the deceased’s terminal return issued some five years after the original assessment. The issue to be decided is….

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Canada Revenue Agency, Estate Administration, Estate Litigation, Executors, Investments, Tax Issues, Trustee, Uncategorized

Spring Holidays and Family Get Togethers

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Reposted from allaboutestates.ca This weekend we celebrated the first nights of Passover and Good Friday and Easter Sunday. Two major holidays that coincided, along with a statutory holiday enjoyed. For me and perhaps for many of you, these holy days have a traditional familial connection rather than a religious one. The foods eaten, or perhaps the foods not eaten, while symbolic of a religious theme, also provide a cultural comfort….

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April is Autism Awareness Month

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This blog was written by Jessica Ang What is Autism? Autism, also known as, “Autism Spectrum Disorder” is a set of unique strengths and challenges that are characterized from one’s social skills, including one’s verbal and non-verbal communication, to one’s behaviours (Autism Speaks, 2019). Autism is a developmental disorder that I have been learning about for ten years and it continuously remains of significant importance to me. My best friend….

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Canada Revenue Agency, Caregiving, Disability, In the News

Solicitor’s Negligence – A Follow Up

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I have previously blogged about solicitor’s negligence and the current state of the law with respect to, in part, determining lawyers’ liability and the applicable standard of care. As a follow-up, below is a brief list of some best practice tips to keep in mind: Communicate – keep the client informed of legal options and obligationsProvide clients with regular updates, even if there is nothing to reportDon’t rely solely on….

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Estate Litigation, Fiduciary Professions, Practice Management

Power of Attorney Fees Paid

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The Canada Revenue Agency (CRA) was asked whether compensation received by an individual acting under a power of attorney (POA) is required to be included in the individual’s income for income tax purposes. A POA is a legal document between two persons whereby one person (A) appoints another person and confers authority to the other person to perform specific acts on A’s behalf. Generally, compensation received by an individual for….

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