Estate Planning

In 21 x 3, I wrote about three, sometimes tricky, trust rules:  the 21-year deemed dispositon rule; the rule against accumulations; and, the rule against perpetuities.  Following the post, I realized I had not been specific enough when a reader – esteemed charitable foundation advisor and former colleague, David Windeyer – questioned whether the rule against perpetuities applies to charitable trusts.  Instead of simply answering David directly with a “not really”,….

Recently the Canada Revenue Agency (“CRA”) was asked whether income allocated by a communal organization and reported as self employment earnings for CPP eligibility on a trust income tax slip (T3 slip) is considered “working” income for the recipient to claim the Working Income Tax Benefit (“WITB”). CRA responded that the Income Tax Act generally defines income from a Trust to be income from a property and not any other….

This will be my last blog for ‘All About Estates’ as I have made the decision to return to my home province of British Columbia and I will be moving from Toronto to Vancouver in August. I have very much enjoyed being part of this blog – I think that it is an excellent source of information for those engaged directly or peripherally in the estates field. Although each of….

I met with a lovely couple last week. They are both in the 80’s and have been living in their two-story home for the last 50 plus years. He has Parkinson’s Disease (PD) and has fallen several times. Luckily to date, he has not broken any bones or injured himself badly. He called our company because he knew that he and his wife needed assistance in understanding their options in….

A blind trust is a trust in which a settlor (who would also be the contingent beneficiary) reserves the right to terminate the trust but agrees to relinquish all other control over the trust i.e. administered and managed by others without updates, advice, instruction, or account to the settlor. Whether they are legislated to do so or not, individuals who hold public office use a blind trust for the duration….