Morneau Stands Firm on Tax Proposals

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Minister of Finance Bill Morneau (“Morneau”) met with small-business owners in British Columbia earlier this week to hear their complaints about and concerns with the tax proposals which were launched on July 18, 2017. With a consultation process of only 75 days, doctors, farmers, small business advocacy groups and various professional associations have been quickly digesting the significant proposed changes and making their views known about the negative impact these….

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Tax Issues

Schizophrenia in Late Life and Impact on Decision-Making Capacity

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Schizophrenia in adults is the most common illness causing psychosis (a loss of contact with reality, a lack of ability to tell what is real from what is not real in some way). Schizophrenia generally commences in late adolescence or less commonly after age 40 referred to as late onset schizophrenia in DSM-5. Seniors with schizophrenia will likely have had an early onset of the disease with chronic persistent mental….

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Disability, Elder Care, Uncategorized

Alter Ego Trusts, The Deemed Disposition, and Spousal Rollovers

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As a result of changes to the law over the last several years, such as increased reporting requirements during the probate process, the loss of graduate rate taxation for most testamentary trusts, and restrictions on the ability of most trusts to use the principal residence exemption, alter ego trusts may be used more frequently, either to take advantage of a benefit (e.g. the principal residence exemption) or because a former….

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Trusts

Locking-in Your Family’s Inheritance – a Matter of “Trust”?

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Today’s guest blogger is Wendy Templeton. Wendy is a member of the Wills, Estates and Wealth Management Group at LLF Lawyers in Peterborough, Ontario.  She is a well-known author and lecturer with a background in taxation of trusts and estates, business succession, and wills, trusts and estates.  She has a strong commitment to education, having made a significant contribution to the Diploma program for the Society of Trust and Estate….

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Estate Planning, Wills

GIFTS – Some Additional Thougths

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Recently, I wrote about the gifting of cash or assets during one’s lifetime as an alternative method of distributing your wealth (beyond what you need to live on comfortably) and possibly avoid taxes (probate, income etc.) at time of death. I suggested that your heirs could use the funds in a manner that will likely cost less tax: For example pay down some personal debt, apply it as a deposit….

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Canada Revenue Agency, Charitable Giving, Estate Litigation, Estate Planning, Family Conflict, Investments, Joint Tenancy, Loans, Philanthropy/Charitable Giving, Probate Tax, Property, Real Estate, Tax Issues, Trusts, Uncategorized

Young Carers and Back to School

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With Labour Day fast approaching I thought it would be fitting to highlight the role that young caregivers have in providing care to another person. Since the creation of ‘Lucky, The Young Carer Rap’ video  which was a partnership with the Vanier Institute of the Family based on research conducted by Dr. Grant Charles, the numbers of young carers has grown.  At that time 12% of young people surveyed in Vancouver….

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Caregiving, Elder Care
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