Estate Planning | All About Estates

I’m Only 20, Why do I need a Will

Corina Weigl • July 26, 2019 • 0 Comments

Today’s blog is being brought to you by guest blogger, Jennifer Campbell, a law clerk in the Private Client Services group of Fasken LLP. Disney child star Cameron Boyce, who is best known for his role in movies such as “Grown Ups” and “Grown Ups 2” as well as his role in the Disney Channel movie, “Descendants” and the television show, “Jessie”, died suddenly and tragically on July 6, 2019…..

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Estate Planning, Family Conflict, Wills

Donor Recognition: Servants, Saints and Super Heroes

Malcolm Burrows • July 25, 2019 • 3 Comments

In 15th and 16th century Europe donor recognition was negotiable. The biggest donors gave to the church, but the best way to be recognized in a durable way was to underwrite religious art. Albrecht Dürer’s circa 1500 triptych, the Paumgartner Altarpiece, is one of the most arresting examples of the complex dynamic that did, and still does, shape the process of showing gratitude to donors. Donors as Servants The main….

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Charitable Giving, Estate Planning, Philanthropy/Charitable Giving

Inherited assets and TOSI

Derek de Gannes • July 23, 2019 • 0 Comments

While it has been over 18 months since its implementation, we are still learning more about the application of the tax on split income (TOSI) rules. The Canada Revenue Agency (CRA) provided guidance where shares of a private company are passed on to the children of the deceased. The CRA was asked to comment on how the TOSI rules would apply when the deceased, Mrs. A, the co-owner of a….

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Canada Revenue Agency, Estate Planning, Tax Issues

Neuroimaging and Capacity

Brittany Sud • July 19, 2019 • 1 Comment

Neuroimaging and Dementia
Technology has increasingly allowed us to peek into the brain, and medical professionals, scientists, lawyers, and laypeople increasingly form opinions of what these images tell us. When it comes to understanding the human mind, humans are more likely to trust brain imaging data as more authoritative and credible than behavioural data…..

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Elder Care, Estate Planning, In the News, Wills

Revival Trusts: Dead on Arrival?

Scotiatrust • July 18, 2019 • 0 Comments

This blog was written by Lara Besharat Benjamin Franklin famously wrote that “in this world nothing can be said to be certain, except death and taxes.” A hundred and seventy-eight years later, the Alcor Life Extension Foundation undertook to disprove this generally accepted inevitability. In 1967, James Bedford became the first person to be cryonically preserved after death in the hopes of someday being brought back to life. For up to $200,000 (not including….

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Estate Planning, In the News, Uncategorized

SHAREHOLDERS AGREEMENTS, EXIT PROVISIONS AND THE IMPACT OF CONTROL

Steven Frye • July 16, 2019 • 0 Comments

Control is an important concept for applying certain income tax rules and valuation issues (amongst others) when dealing with corporations, with serious implications to current and future (and estate) planning scenarios. De jure control refers to legal control of a corporation, which requires a look at shareholdings. Control in fact, or “de facto control”, (“DFC”) is a broader concept that focuses on influence rather than legal control. As a result,….

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Business Succession Planning, Canada Revenue Agency, Contracts, Estate Planning, Investments, Property, Small Business, Succession Planning, Tax Issues, Uncategorized