Cooler weather, shorter days, leaves changing colours and, at long last, the Blue Jays playing in the playoffs, are sure signs that Autumn is here and Winter is just around the corner. For estates practitioners in 2015, these are also signs that January 1, 2016 — the effective date for changes to the taxation of testamentary trusts first introduced in Budget 2014 — is also just around the corner…..
QUALIFIED DISABILITY TRUSTS Continue Reading »
Estate PlanningWith the sky high price of housing in many provinces, families may be looking for residential alternatives. Shipping containers coming to your city soon…..
A new take on the ‘granny suite’ Continue Reading »
Elder Care, Family Conflict, In the NewsOctober 1 was National Senior’s Day. This national day was created (by statute called the Celebrating Canada’s Seniors Act, S.C. 2010) to acknowledge the contribution of seniors to Canadian society and to the Canadian economy which this contribution being identified by the sharing of their experiences, expertise and knowledge with other generations and which was declared to be invaluable and ongoing in November 2010. October 1, 2015 was also the….
National Senior’s Day Continue Reading »
Elder Care, Elder LawAs regular readers of this blog – along with anyone whose profession touches upon any aspect of estate planning and/or administration – know, the discipline is equal parts art and science. Given the credentials of, and work performed by, most contributors to this blog, the technical aspects receive the lion’s share of attention here. Notwithstanding, through both professional and personal experience we’re all acutely aware of the importance of the non-scientific….
Unpacking the Past Continue Reading »
Elder Care, Estate Planning, WillsOn Tuesday, September 29, I spoke at an OBA program entitled “The Family Business: Administration and Litigation of Trusts and Estates Holding Business Assets.” At the end of the program, there was an interesting discussion about the distinction between compensation for estate trustees and compensation for POAs or guardians of property appointed pursuant to the Substitute Decisions Act (“SDA”). A regulation to the SDA sets out the prescribed rates of….
POA versus Executor Compensation Continue Reading »
Attorney Compensation, Compensation, Executors, Passing Of Trustees’ and Executors’ Accounts, POA Compensation, Power of Attorney, Trustee, Trustee CompensationThe Canada Revenue Agency (CRA) was asked to comment on several scenarios involving the sale and deemed sale of a property co-owned by a couple…..
Principal residence and Co-Ownership Continue Reading »
Canada Revenue Agency, Estate Planning, Executors, Joint Tenancy