Rethinking Testamentary Charitable Remainder Trusts

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The tax treatment in Canada of testamentary charitable remainder trusts (CRT) has long been an exercise of metaphysical complexity. Although a charity may receive property from a trust established by will, tax receipts are rare. What looks like a gift isn’t for tax purposes. The new “estate donation” rules in sub-section 118.1(5) that became effective in 2016 have quietly changed this reality, but it may take a while for CRA….

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Estate Planning, Philanthropy/Charitable Giving

UNCLE SAM’S REACH CONTINUES – THIS TIME POTENTIALLY TO YOUR ABILITY TO TRAVEL

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Like many countries rules for being a citizen, an individual is a US citizen either because they were born in the United States or because they have become a citizen through the process of naturalization. Either way, once a US citizen you are entitled to the rights, privileges and benefits of being a US citizen. One of those privileges is the right to acquire a US passport. ….

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U.S. Citizen, United States

The Clock Ran Out On This Will Challenge

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Limitations statutes can be unforgiving. One dairy farmer learned this lesson in Reid et al. v Reid; Reid v Reid et al., 2016 ONSC 2098, when his will challenge was dismissed for being commenced out of time. Barry and Robert are brothers. Their parents, Walter and Mary, operated a dairy farm which was held by a family corporation (the parents each held 46.5% of the shares; the children each held….

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Contested wills, Estate Litigation, Executors, Family Conflict, Trustee, Wills

coffee, dark chocolate and red wine

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Last week, along with my associates Teresa Acs and Holly Allardyce, I attended an event presented by law firm WeirFoulds, titled Mind Over Matter: Living with a Healthy Brain. The session featured two “members” of the Women’s Brain Health Initiative (WBHI). WBHI is a charitable non-profit with a mandate to “provide education and fund research to combat brain aging diseases that affect women”. Lynn Posluns is the Founder, President and….

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Estate Planning
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