Total 345 Posts
The holiday season is often filled with visiting family, friends and relaxation. It can be that rare moment in the year where our fast-paced lives are put on hold, allowing for an opportunity to regroup and tackle important tasks we’ve been postponing throughout the year. Much like you would schedule a holiday party in your calendar, why not set aside some time to do an overview of your estate planning?….
Patents What is the symbol of a true gentleman, if not his moustache? The moustache guard was patented in 1876 to protect the user’s moustache during holiday feasts. It was described in the patent application as a “curved and concave shield, which may be made of vulcanized rubber, metal or any other suitable material” and it promised to keep moustaches out of harm’s way while the user (inevitably) overindulged during….
Patents as Estate Assets Continue Reading »
Estate Planning, ExecutorsSome of you may have read the article written by my colleague, Demetre Vasilounis, back in June of this year about Valve’s incredibly popular game distribution platform, Steam. The platform is selling their games as licences, not as owned games, much to the surprise of the gaming community. This was a spark of many discussions found on Reddit, and Steam’s own discussion forums. If you haven’t read the article, I….
Digital Game Ownership Means No Ownership? Continue Reading »
Estate Administration, Estate Planning, ExecutorsExculpatory clauses or indemnity clauses in wills and trusts are common forms of protection provided to the trustees by testators and settlors. When a trustee is appointed under a testamentary or inter vivos trust document to administer and manage an estate or a trust, some consider it to be an honour and a privilege. Unfortunately, the reality of the office of the trustee is often fraught with inexperience, lack of….
I Would Like Exculpatory Clauses and a Side of… Continue Reading »
Estate Litigation, Estate Planning, Executors, Wills
As a follow-up to my last article on key filing deadlines for estates, this article discusses tax penalties and interest. For executors, missing a tax deadline can come with serious tax implications, notably the application of a penalty and interest. Late Filing Penalty Under the Income Tax Act, there are several sections dealing with the application of penalties. Deadlines are important and there is a penalty equal to five percent….
Penalties Under the Income Tax Act – Executor Beware Continue Reading »
Estate Administration, Executors, Interest, Liability, Tax Issues
November is Make a Will month. It is reported that more than 55% of Canadians are without a Will. Still, it is a must-have for anyone with property or assets. While a Will may anchor an estate plan, it is only executed when you pass away. Even more compelling is that while we are alive, we may need someone to act on our behalf if we cannot speak for ourselves…..
Why you Need a Power of Attorney When You Are Alive Continue Reading »
Elder Management, Estate Planning, Executors, Power of Attorney, Smart Ageing