Estate Planning

Total 1068 Posts

Road Testing your Estate Plan

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This Blog was written by Suzanna Walter, Estate and Trust Consultant with Scotia Wealth Management On July 9, 2020, I wrote about the importance of road testing your incapacity plan. I would like to outline a similar road test for your Estate Plan. For most people the cornerstone of their Estate Plan is the Will.  However, when road testing your estate plan, it is not enough to review just your….

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Estate Planning, Executors, Uncategorized, Wills

Multiple Wills Across Civil and Common-Law Systems; Estate Planning That Provides An Advantage To Clients Who Hold Assets In Ontario And Quebec

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If structuring an estate plan across different Canadian jurisdictions didn’t raise enough considerations for an estate planner, add a different legal system to the mix, namely, Quebec’s civil law.  This post focuses on the estate-planning advantages available to clients who hold assets both in Ontario and Quebec, specifically the advantage of probate planning using multiple wills. Quebec Wills In contrast to Ontario, which has four types of wills under Ontario’s….

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Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Probate Tax, Wills

Occupation Rent Will Get You Every Time

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Most adults are familiar with the concept of “rent”: it’s the money you owe every month after signing a lease with a landlord. Related but distinct from “rent” is “occupation rent” – rent’s frequently sought, but little understood, younger cousin who can still pack a punch. Occupation rent fills the void where there is no lease agreement or where a landlord-tenant relationship does not exist. Occupation rent can be sought….

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Estate Administration, Estate Litigation, Estate Planning, Family Conflict, Joint Tenancy, Real Estate

The Charity Capacity Gap

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Canada’s 85,896 registered charities have wide-ranging capacity, but these variations are often underappreciated.  Estate donors – and their professional advisors – often focus on cause and tax status, but ignore organizational health indicators like history, funding, staffing, and governance.  What should estate donors look for in a charity? Although all registered charities can issue donation tax receipts, not all charities can handle significant estate donations or receive more complex assets. ….

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

SOME TAX TIPS IN THE COVID ERA

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Our epidemiologists and public heath officers are warning us gently that the dreaded virus will be with us for awhile. Nevertheless, we are all hoping that our economy will recover soon (and to some extent our financial markets have), but it appears asset values in general may be depressed for some time to come. In this context, there may some some opportunities to free up some cash flow and/or reduce….

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Business Succession Planning, Canada Revenue Agency, Estate Planning, In the News, Investments, Property, Real Estate, Small Business, Tax Issues, Uncategorized

Estate Planning for Tattoo Artists

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It’s critical for anyone planning an estate, whether their own or someone else’s, to do a comprehensive analysis of anything that could be considered property of that estate upon the testator’s death. After all, section 2 of Ontario’s Succession Law Reform Act states that a “person may by will devise, bequeath or dispose of all property (whether acquired before or after making his or her will) to which at the….

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Estate Administration, Estate Litigation, Estate Planning, United States
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