A friend sent me this Mother’s Day greeting: “To the World You are a Mother. But to your Family You are the World!” I don’t know who wrote it, but I believe the sentiment. We all have had a mother and chances are this person shaped our lives more than any one else. For many of us, our mothers were our first loving and significant relationship. Our mothers influenced us,….
Hey You Mother….. Continue Reading »
UncategorizedAn estate planner’s clients typically express a desire to minimize taxes payable on death, including Estate Administration Tax (“probate fees”), which are payable on the value of the assets governed by a Will which is probated. For many clients, their home is their asset of most significant value. With the average price of homes in Ontario as of March 2018 at $576,950, which would give rise to probate fees of….
Real Property and Probate: Quick Tips and Traps Continue Reading »
Uncategorized
The case of John the Farmer (which I had previously blogged about) is now under appeal. John is seeking to overturn the ruling that he had to vacate the family farm so it could be sold on the open market. A judge rejected John’s request to stay the lower court’s order until the Court of Appeal could weigh in. The Court of Appeal will hear this matter on July 20,….
Chapter Two in the Family Farm Saga Continue Reading »
Estate LitigationWe often write about the benefits (and some pitfalls) of gifting, before and after death. Personally, when I recommend gifting, I assume that unless there are specific outcomes required to realize on the gift, a gift is exactly that, a gift – something transferred voluntarily without expectation of getting it back because you changed your mind. A recent court case appears to support this assumption. According to Johnston v. Song, 2018….
A Gift is a Gift Continue Reading »
Charitable Giving, Estate Planning, Family Conflict, Investments, Probate Tax, Property, Real Estate, Separation, Spouse, Uncategorized
The events over the last few weeks highlight how fragile life is. Anyone of us could have been walking on that sidewalk on that fateful day; we just never know what life has in store for us. This blog isn’t about being prepared, which is a concept I endorse but as I was never a girl guide, I may not be as well prepared as some. Rather today’s blog is….
Have you had your ‘Check Up From the Neck Up*’? Continue Reading »
Elder CareI think it is fair to say that joint ownership of property[2] is one of the most commonly used strategies for property ownership in the context of developing an estate plan. Like any form of partnership, there are many issues to consider in jointly owning property. In the context of jointly owned life insurance, there are some specific nuances that must be addressed when dealing with jointly owned life insurance,….
Life Insurance Joint Tenants[1] Continue Reading »
Insurance, Joint Tenancy