The family caregiver plays a key role in supporting the very fabric of Canadian society. The most recent Census data tells us that 28% of all Canadians provide unpaid care to a family member or friend. If you are reading this article, chances are you are or know someone close to you who is a family carer. Today there are more seniors over age 65 than children under age 14…..
The Role Played by the Family Caregiver Continue Reading »
Elder Care[caption id="attachment_5842" align="aligncenter" width="477"] Robert and Signe McMichael signing Gift Agreement with Ontario Premier John Robarts .18 November 1965. Credit CBC[/caption] Robert and Signe McMichael, the namesake of the McMichael Canadian Art Collection, were savvy art collectors who made some painful philanthropic and estate planning mistakes. Visionary Collectors Starting in 1955, when they were in their early 30s, they started buying landscape paintings by the Group of Seven….
Robert and Signe McMichael’s Complicated Legacy Continue Reading »
Estate Administration, Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized
Nobody is perfect – sometimes you lose your keys. Other times you lose your will. The problem is, by the time your estate trustee realizes the will is gone, you won’t be around to help look for it. The inability to find a testator’s will does not automatically result in the deceased’s estate being distributed on intestacy. In certain circumstances, a lost or destroyed will may be admitted for probate….
Lost Wills – More Complicated than Losing Your Keys Continue Reading »
Contested wills, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Executors, WillsAs most trust and tax practitioners know, The Income Tax Act (“ITA”) will attribute trust income, losses, capital gains and capital losses to the contributor / settlor if certain conditions are met. The 2016 T3 Guide states the following: Certain related amounts, including taxable capital gains and allowable capital losses from that property or the substituted property, are considered to belong to the contributor during the contributor’s life or existence….
Contributor/settlor Taxable Income and T3 Reporting Requirements Continue Reading »
Canada Revenue Agency, Estate Administration, Tax Issues, Trusts, Uncategorized
I had the pleasure of attending last week’s Society of Trust and Estate Practitioners’ conference, titled “Elder Abuse and Manners of Protecting the Elderly”. It focused on financial abuse which is the most common form of elder abuse. It provided an excellent overview with a panel discussion presented and moderated by lawyers (Craig Vander Zee, Kim Whaley and Albert Oosterhoff), the Toronto Police Vulnerable Persons Coordinator (PC Jason Peddle) and….
Can We Prevent Elder Abuse? Continue Reading »
Elder Law, Power of Attorney, Powers Of Attorney and Guardianship DisputesEstate planners commonly use the Latin term, “per stirpes”, when drafting wills, but most lay people have no idea what the term even means. This arcane term differs from the less commonly used, but still present, Latin term, “per capita”. It is important to understand the difference between these two terms in order to draft a will in accordance with a testator’s intention, as well as be able to explain….
Latin Terms, “Per Stirpes” and “Per Capita”, Still Present in Wills Continue Reading »
Estate Planning, Uncategorized, Wills