Family trust and double tax

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The Canada Revenue Agency (CRA) issued a technical interpretation on the tax treatment of trust income where there was a distribution from the trust to beneficiaries who weren’t entitled to the distribution in the first place. The trust was established for the benefit of children who were minors at the time of the trust distribution.  The trust agreement forbid the trustee(s) from making distributions to minor beneficiaries presumably to avoid the application….

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Canada Revenue Agency, Estate Planning, Executors, Tax Issues, Trustee

A Terrific Bday Gift- A Dementia Strategy

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Congratulations Canada! 150 years young and we are living longer than ever. Along with long life often comes disability and for many dementia is, in my opinion, the most threatening disease of today. Finally we have joined the ranks of the more progressive countries, those that are preparing themselves for what many have referred to as the ‘Silver Tsunami’, the tidal wave of long life. Canada is the 30th country….

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Elder Care, In the News

The New Surrogacy Rules in the Children’s Law Reform Act

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The new parentage rules in the All Families Are Equal Act (Parentage and Related Registrations Statute Law Amendment), 2016, S.O. 2016, c. 23 (“Act”), include rules for determining parentage where surrogacy is used. The surrogacy rules became effective on January 1, 2017 and are largely set out in sections 10 and 11 of the Children’s Law Reform Act (“CLRA”) as amended by the Act. For purposes of the rules, a….

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Family Conflict

The National Gallery of Canada’s Purpose

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[caption id="attachment_5336" align="alignleft" width="300"] New Indigenous and Canadian Galleries at the National Gallery of Canada, Courtesy of The Globe and Mail[/caption] At the recent opening of the new Indigenous and Canadian Art Galleries at the National Gallery of Canada (NGC), Director Marc Mayer made a fascinating throwaway comment. Due to the inclusion of historical objects and artifacts made by Canadian indigenous people NGC had to redraft its legal purposes.  In….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Who is Your Substitute Decision-Maker?

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Under the Heath Care and Consent Act  (“HCCA”), every person in Ontario has an automatic Substitute Decision-Maker (“SDM”) who can provide or refuse consent to medical treatment if the person becomes incapable of providing consent. However, there is still a great amount of confusion about SDMs and who they are, especially when a person has not appointed an attorney for personal care. Under s. 20 (1) of the HCCA, the….

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Power of Attorney, Powers Of Attorney and Guardianship Disputes

Estate Planning – Can You Just Give Some of it Away?

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A recent article in the press reminded me of a trend in estate planning which appears to be taking more favor in recent times. It is not very complicated, can lead to considerable tax savings and other benefits while you are with the living. I am referring to the gifting of cash or assets during your lifetime. Many people who consult me and other members of my practice are often….

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Charitable Giving, Estate Administration, Estate Donations, Estate Planning, Investments, Probate Tax, Tax Issues, Uncategorized
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