Oh, How Convenient

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This article was co-authored with Ronald Neal, student-at-law. A centuries’ old practice gives personal representatives one year after the death of a deceased to wind up the deceased’s estate (calling in assets, paying estate debts, converting assets to enable distribution of the estate, etc.).  This is often called the “executor’s year”.  However, in today’s world, it frequently takes more than one year to administer an estate. What happens if a….

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Uncategorized

To vary or not to vary

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The Canada Revenue Agency recently responded to a ruling request as to whether or not a proposed amendment to a trust agreement could be so significant to cause a resettlement of the trust, or a disposition of a beneficiary’s interest in the trust Before the enactment of variation of trusts legislation, trustees were generally bound to administer the trust according to its terms.  Unless specifically allowed in the trust deed,….

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Canada Revenue Agency, Executors, Tax Issues, Trustee, Trusts

Crisis in Long Term Care: Thinking About Tomorrow

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My last 3 blogs have highlighted some of the challenges we are currently facing in our Long Term Care sector.  The bottom line is this: there are not enough residential placement beds to address the current and growing demand for those individuals whose care needs can no longer be met within their own home setting. The answer is not simply an increase in beds but  also providing the necessary care….

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Elder Care

Federal Budget 2018 – Overview of Personal Income Tax Measures

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On February 27, 2018 (“Budget Day”), the Federal Government tabled the third budget (“Budget 2018”). This year’s budget focuses on continuing to strengthen the middle class and economic growth.  The following are some of the notable personal income tax measures proposed in Budget 2018, which relate to qualifying plan holders for Registered Disability Savings Plans, new reporting requirements for certain trusts and favourable changes for charities. Registered Disability Savings Plan….

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Tax Issues

Estate Donations for Charities Not Yet Registered

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The 2018 Federal Budget hinted that Canadian newspapers may be able to receive charitable status in the future.  As I’ve previously written, making non-profit and local journalism an eligible charitable purpose is a timely idea — and it has implications for donor planning their estates.  The Federal Budget got me thinking of a charitable planning conundrum: donors who wish to support a cause that is not yet charitable at law….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Once You Give You Can’t Take Back, Even Though You May Regret It

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In the recent decision of Johnston v. Song [1], the Ontario Superior Court of Justice considered the consequences of a property’s transfer into joint ownership in advance of a breakdown of a common law relationship. Facts: Johnston and Song began living together in November 2005, when Song moved into a home owned by Johnston. Johnston had purchased the home in 2003, for which he paid the down payment and obtained….

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Charitable Giving
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