Estate Planning

Total 1082 Posts

Lifestyle Changes Bring Increased Risk to Older Clients and Advisors – Part 2

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In our last blog post, Lifestyle Changes Bring Increased Risk to Older Clients – Part1, we explored the need to rethink the planning paradigm for older clients and actively shift to assuming a 100-year lifespan. However, a 100-year lifespan does not necessarily equal 100 years of good health. We know that in the last decade of a person’s life, there could be more focus on health issues, medical coordination, and….

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Caregiving, Elder Management, Estate Planning

A Closer Look at Simultaneous Deaths

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Recently, the world learned of the passing of actor Gene Hackman and his wife, Betsy Arakawa in what appeared to very strange circumstances. Initially, there were concerns that their deaths may have been as a result of carbon monoxide poisoning. Autopsy reports have later revealed that this is not the case. Almost immediately, the media started talking about their Estates, with initial reports suggesting that Gene’s Will did not name….

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Estate Administration, Estate Planning, In the News, Uncategorized, Wills

Donor Advised Funds are not Trusts

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A common misconception about donor advised funds is that they are trusts, charitable purpose trusts.  At times, lawyers, especially those with expertise in trusts and estates, struggle with this distinction, as do donors.  In 2023, this issue came to the forefront when Canadian charities briefly thought they might need to report on certain funds under trust reporting rules.  Although donor advised funds have trust-like features, most are not trusts. This….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Trusts

Can the CRA seize the proceeds of life insurance?

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An existing tax debt at the time of death can wreak havoc on the administration of an estate and can jeopardize the estate and insurance planning. This is because the Canada Revenue Agency (“CRA”) is not your typical creditor and has statutory powers to seize assets of the estate beyond what other creditors may seize. Personal Insurance If the insurance proceeds are payable to the designated beneficiary(ies) under the insurance….

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Estate Planning, Insurance, Tax Issues, US Taxes

To Gift or Not to Gift?

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This blog post was written by: Diana Leopardi, Estate and Trust Consultant, Scotiatrust Montreal Many people would have their cake and eat it too. Meaning, many people want to enjoy their retirement years while also plan for a lasting legacy to their next generation. How can this be done? What are some options? An insured annuity is a tax efficient strategy that produces a guaranteed income stream for the duration….

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Estate Planning, Insurance

Turbulent Times and Estate Planning

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This blog has been written by Rahul Sharma, Partner, at Fasken Martineau DuMoulin LLP, Toronto The world is changing very fast and conversations that I am having with people today include generous helpings of “T” words other than “tax” and “trust.”  I could try to keep count of how many times I hear the word “tariff”, but the score is obviously high.  So much so, in fact, that even my elementary….

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Estate Planning, Tax Issues, Trusts, valuation
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