Principal Residence Exemption and Trusts

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In October, fellow blog-poster Corina Weigl wrote regarding the impact on individuals of recent changes to the rules surrounding the principal residence exemption. In addition to the changes impacting individuals, significant changes are proposed that will restrict the ability of trusts to claim the principal residence exemption residence for tax years after 2016. Currently, a personal trust is able to designate a property held in trust as a principal residence….

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Estate Planning

Postponed Power of Attorney for Property and Unforeseen Consequences

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Under the Ontario Substitute Decisions Act[i] (SDA), power of attorney (POA) for property appointments are made through a continuing or postponed POA for property. The continuing POA for property is one that takes effect immediately regardless of the grantor’s capacity to manage property and continues, if needed, through the development of the grantor’s incapacity such that the Office of the Public Guardian and Trustee (OPG&T) is not required to intervene….

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Geriatric Care Management, Power of Attorney

Do you know any Jay Walkers?

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Have you seen seniors trying to cross a busy street where there are no traffic lights? Many think they can walk faster than the speeding car headed their way. Not so….. Becoming allies in promoting safety for seniors can encompass a broad range of topics from elder abuse to fraud prevention to pedestrian safety. Pedestrian safety has been at the forefront as of late due to the large number of….

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Disability, Elder Care

Must an estate pay for a charitable pledge by the deceased?

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Canadians are charitable people. According to Statistics Canada, 82% of Canadians made a financial donation to a charitable or non-profit organization in 2013 (the latest year statistics are available). The amount given by donors increased from an annual average of $469 in 2004 to $531 in 2013. The most generous donors are those age 75 and over – indeed, every older age category was more generous than the previous one…..

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Charitable Giving, Estate Donations, Estate Litigation
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