A very recent decision from the Ontario Court of Appeal (Holgate v. Sheehan Estate, 2015 ONCA 77) considered the question of whether the accumulation of wealth should be considered a “use” of trust income or capital…..
The Health Innovation Collaborative (HIC) is a three year project supported by The Green Shield Canada Foundation . Under the helm of Sarah Saso, the executive director, funding was provided to bring major community based organizations to collaborate to improve the lives of seniors. The goal of the project was to address ‘the idea of care coordination to keep people living in their homes as long as possible. The goal….
Doing Things Differently Continue Reading »
Elder Care, Geriatric Care Management, Philanthropy/Charitable GivingThere has been a fair amount of discussion about the new rules starting January 1, 2016, and the tax treatment of charitable gifts after the death of an individual will change significantly. What about the impact on estates that are in litigation? Now, when a gift is made “by will” to a qualified donee the gift is deemed to have been immediately prior to the death of the individual with….
Last month I had the pleasure of presenting- along with fellow blogger Dr. Ken Shulman – at a Scotiabank conference. Our audience was comprised, for the most part, of ScotiaMcLeod and Private Investor Counsel financial advisors. Dr. Shulman provided a clinical perspective on capacity/incapacity and I focused on the importance to advisors and their clients of planning for potential future incapacity. Dr. Shulman set the stage by reviewing some, in my view….
Older clients and capacity – what financial advisors should know Continue Reading »
Estate PlanningParents are living longer and gifting money to their children before they die or by way of a last minute will. Distrust and disbelieve inevitably arise. The courts are called upon more and more to settle family disputes with all of the attendant rancor and costs. The case of Foley v. McIntyre helps sorts out some of the legal issues. ….
Gifting and Incapacity – A Cautionary Tale Continue Reading »
Estate Litigation, Estate Planning, Joint Tenancy, Succession Planning, Testamentary CapacityAs my fellow bloggers have written, there are now 3 types of testamentary trusts under our tax law: a Graduated Rate Estate (“GRE”), a Qualified Disability Trust (“QDT”) and all other testamentary trusts (“OTT”). Previously, all testamentary trusts were generally taxed in the same way individuals were – at graduated tax rates. Effective January 1, 2016, OTT’s will be taxed at the highest marginal tax rate. However, GRE’s which generally….
