Form T3010 Registered Charity Information Return and the CRA’s Initiatives

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In order for a charity to maintain its charitable status, the Form T3010 Registered Charity Information Return (“T3010 Information Return”) must be filed each year within 6 months following the end of the charity’s fiscal period. Approximately two years ago, the Canada Revenue Agency (“CRA”) created an infographic to remind charities of their T3010 deadlines. For example, if a charity’s fiscal year end is January 31, the T3010 Information Return….

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Canada Revenue Agency, Tax Issues

What the Law Takes Away, the Law can just as Easily Give Back

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I previously blogged about the importance of making a will to ensure that your testamentary wishes are carried through.  Eissmann v Kuntz is a recent Ontario Superior Court of Justice decision illustrating the unintended consequences of improper estate planning. Background Siegfried Kunz was born in Germany in 1937.  He married his ex-wife in 1961.  They had one daughter together, Petra, in 1962.  Siegfried and his ex-wife divorced in 1967 and,….

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Uncategorized

Life Insurance and Contingent Ownership

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Ownership of assets into ‘joint tenancy with right of survivorship” is a mechanism of ownership transfer commonly used for estate planning to address such issues as probate fee and tax avoidance. Recently, this blog site very capably addressed the issues surrounding “joint tenancy” of life insurance in particular (“Life Insurance Joint Tenants” by Corina Weigl May 4, 2018), said issues to include partial loss of ownership and control over the….

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Estate Planning, Insurance, Investments, Joint Tenancy, Probate Tax, Property, Tax Issues, Uncategorized

Caring for Someone with Dementia

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I was browsing through the Canadian Family Physician Magazine (Vol 64 April 2018) and the ‘Geriatric Gem’ caught my interest. The topic is on supporting caregivers, specifically those of persons with dementia. The evidence presented is that “caregivers of persons living with dementia are at higher risk of depression, substance abuse, and exacerbation of underlying illnesses.” Furthermore, “improving caregiver well-being can help keep persons with dementia living in the community….

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Caregiving, Elder Care

When a Modern Relationship and the Traditional Family Clash: a Lesson for Estate Planners

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Guest written by Jessica Nolan, student-at-law at Fasken. A recent case out of British Columbia offers a number of lessons for estate planning. Robledano v. Jacinto (2018 BCSC 152) involved the estate of Barbara Jacinto who died unexpectedly. Barbara had been in a relationship with Maria Robledano on and off for just over 30 years. In the final years before Barbara’s death, they were primarily living under separate roofs but….

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Uncategorized

Donate to Eliminate Clauses

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Last week I received a call from a client who wished to include a “donate to eliminate” clause in his will. His goal is to wipe-out all taxes in his estate by giving just the right amount to his favorite charities. A few years ago, this planning idea was all the rage in gift planning circles. It turned on a model clause that directed the executor to calculate the value of….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized
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