Family Conflict

Total 262 Posts

Estate Planning – A Lesson in Communication

• • 0 Comments

So I was meeting with the beneficiaries of an estate to finalize some of the tax filings to be made. The tax filings reflected a series of transactions completed to eliminate double taxation on the disposition of some of the estate’s assets. What was causing the possibility of double taxation was the fact that my client (now deceased) had purchased a property thru a holding company, which was in effect….

Estate Planning – A Lesson in Communication Continue Reading »

Canada Revenue Agency, Credibility, Estate Administration, Estate Planning, Family Conflict, Fiduciary Professions, Property, Real Estate, Uncategorized, Wills

Joint accounts – the good and the bad

• • 0 Comments

Earlier this year, my father-in- law left us suddenly.  While my in-laws were careful about planning for this day there was still some Estate Administration Tax (EAT) to be paid on the transfer of assets between spouses.  Armed with that experience, my mother-in-law is determined pay the least amount of EAT and asked about the use of joint accounts. Jointly held property with a spouse or with one or more….

Joint accounts – the good and the bad Continue Reading »

Estate Planning, Executors, Family Conflict, Probate Tax, Tax Issues

Taming the Cottage Gremlins with a Non-Profit Organization

• • 0 Comments

This Blog was written by Carol Willes, One of our family’s favourite pastimes at the cottage is to build a roaring campfire and spend the evenings telling stories, singing along to guitar tunes and roasting the occasional marshmallow. Every so often, however, some unwelcome visitors show up and crash our campfire bliss. This generally happens when the fireside conversation turns to the future of the cottage once mom and dad….

Taming the Cottage Gremlins with a Non-Profit Organization Continue Reading »

Cottage, Estate Planning, Family Conflict, Succession Planning, Uncategorized, Wills

Death, Loss and Hope For Another Year

• • 0 Comments

While the New Year starts in January, Jews around the world celebrate another New Year, the birth of the universe, 5778 years ago based on the Hebrew calendar. While it is the first of the High Holidays, for many who may not attend synagogue, it may still be recognized and celebrated with family sitting down together for a festive dinner. When there has been a death of a loved one….

Death, Loss and Hope For Another Year Continue Reading »

Estate Litigation, Family Conflict, Powers Of Attorney and Guardianship Disputes

The Endowment Effect

• • 0 Comments

[caption id="attachment_5640" align="aligncenter" width="463"] St Miguel and the Dragon, 14th Century, Museu Nacional d’Art de Catalunya, Barcelona, Spain[/caption] People value objects more when they own or possess them – or at least when they presume ownership.   In cognitive psychology this phenomenon is called the “endowment effect”.    It’s a concept that was seemingly invented to describe a lot of behaviour related to estates, philanthropy and foundations.   It’s time to give it….

The Endowment Effect Continue Reading »

Estate Administration, Estate Litigation, Family Conflict, Philanthropy/Charitable Giving

GIFTS – Some Additional Thougths

• • 0 Comments

Recently, I wrote about the gifting of cash or assets during one’s lifetime as an alternative method of distributing your wealth (beyond what you need to live on comfortably) and possibly avoid taxes (probate, income etc.) at time of death. I suggested that your heirs could use the funds in a manner that will likely cost less tax: For example pay down some personal debt, apply it as a deposit….

GIFTS – Some Additional Thougths Continue Reading »

Canada Revenue Agency, Charitable Giving, Estate Litigation, Estate Planning, Family Conflict, Investments, Joint Tenancy, Loans, Philanthropy/Charitable Giving, Probate Tax, Property, Real Estate, Tax Issues, Trusts, Uncategorized
Scroll to Top