Tax implications of losses incurred in a fraudulent investment scheme

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All to often it is the elderly and disadvantaged who are taken advantage of in fraudulent investment schemes. The Canada Revenue Agency recently released some general information that applies to taxpayers who participated in what reasonably appeared to be a legitimate investment for income tax purposes. Generally speaking, an amount paid to a taxpayer that is a return on investment, such as interest, must be included in the taxpayer’s income….

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Canada Revenue Agency, Executors, Tax Issues

Undue Influence by “Unwitting Proxy”

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Undue influence results in benefits to a beneficiary/donee which would not have occurred except for the undue influence imposed by the beneficiary/donee upon the testator/donor. Undue influence can be conceptualized into two distinct types: (1) “actual” undue influence and (2) “presumed” undue influence. Actual undue influence is concerned with coercive or deceptive behaviour. As explained by Lord Justice Lindley in the seminal case of Allcard v. Skinner,[i] actual undue influence….

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Capacity Law, Elder Law, Guardianship, Power of Attorney, Powers Of Attorney and Guardianship Disputes, Resulting Trust, Testamentary Capacity, Trustee, Trustee Disputes, Undue influence

Is Priority Given to a Spouse/Common Law Partner to be an Executor in an Intestacy?

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This Bog was written by; Sally Lee Is Priority Given to a Spouse/Common Law Partner to be an Executor in an Intestacy? No, but I can understand why this misconception exists. Subsection 29(1) of the Estates Act creates the confusion by naming the surviving spouse/common law partner before the next of kin, which leads many to believe that there is in fact a priority of appointment to the surviving spouse/common….

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Estate Administration and Probate Applications, Executors, Uncategorized

Estate Trustees and Costs of Litigation: Try not to take it personally?

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In the work I do, I am asked to provide expert testimony to support litigation. In some cases, I am often quite surprised to what extent parties will continue to litigate matters that appear to be “no-wins” or for small dollar amounts. Depending on the circumstances, parties have taken the personal brunt of litigation costs that may far exceed the amount in question, due primarily to their own intransigence. A….

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Attorney Compensation, Contested wills, Costs, Estate Administration, Executors, Family Conflict, Liability, Property, Trustee, Trustee Disputes, Uncategorized, Wills

Lessons Learnt from Children: Making A New Friend

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I had previously blogged on the state of loneliness and the efforts being made in the UK with the creation of a Minister of Loneliness. We know that this is also a huge problem in own backyard and one that we continue to need to be aware of. My colleague recently shared a new campaign originating in the UK called the “End Loneliness” with a conference in October 2018 touted….

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Elder Care, Uncategorized

A Deathly Reminder

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The recent passing of Aretha Franklin on August 16 means the music industry has lost yet another icon. It also, however, serves a useful reminder – even those who appear to have all the financial success in the world, don’t necessarily ensure their financial affairs are in order. Shortly following the death of Franklin, the world learned she died without a will. See Article.  This was despite the fact that….

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Wills
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