Notice any dings or dents on the car? What happens when someone can no longer drive? Transportation is a major issue for seniors. Losing one’s drivers license triggers many emotions- especially loss of independence. ‘Giving up the keys’ is a common discussion in many households and most often when adult children have concerns about their parent’s driving habit….
Getting Around Town Continue Reading »
Disability, Elder Law, Geriatric Care ManagementOver the past year, the saga of billionaire Sumner Redstone’s estate and capacity fight has continued to play out in the United States. Redstone, an American media magnate, was the subject of a lawsuit brought by Manuela Herzer, a former girlfriend. Herzer alleged that the CBS Corporation and Viacom owner was incapable, and was being manipulated by his daughter, Shari Redstone. That lawsuit was dismissed in May of this year…..
The Canada Revenue Agency (CRA) was asked in a technical interpretation if a reversionary trust that holds non-income producing property required to file a T3 Return.
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Filing obligation for 75(2) trust Continue Reading »
Canada Revenue Agency, Estate Planning, Tax Issues, TrusteeA typical estate administration can take between 12-18 months and can consume hundreds of hours depending on the complication involved….
Decease and Assist Continue Reading »
Estate Administration, Estate PlanningDuring the June 10, 2016 Toronto STEP Conference Roundtable, the CRA was asked to provide its views on paragraph 8 of IT-3054, which states: Once a trust qualifies as a spouse trust under the terms of subsection 70(6), it remains a spouse trust and is subject to the provisions affecting such trusts (for example, paragraph 104(4)(a)) even if its terms are varied by agreement, legal action or breach of trust…..
Knowing who to call and getting the correct information is paramount- at any time. Obtaining assistance is especially critical for those worried about elder abuse. ….
Elder Abuse Continue Reading »
Elder Care, Estate Planning