Fiduciary Professions

Total 36 Posts

Estate Planning – A Lesson in Communication

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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….

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

LCO Releases Report on Capacity, Decision-making and Guardianship Laws

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Last week, the Law Commission of Ontario (“LCO”) released and presented to the provincial government, their final report reviewing Ontario’s statutory framework for legal capacity, decision-making and guardianship matters. The LCO focused on the relevant capacity provisions found in the Health Care Consent Act, the Substitute Decisions Act (“SDA”), and the Mental Health Act (“MHA”).  The report makes 58 recommendations to address issues such as financial elder abuse, misuse of….

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Attorney Compensation, Capacity Law, Elder Law, Fiduciary Professions, Power of Attorney, Powers Of Attorney and Guardianship Disputes

DISABILTY TAX CREDIT CERTIFICATE: WHO CAN CERTIFY?

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Which medical professionals can certify on a Disability Tax Credit Certificate (“Form T2201”), that an individual has a severe and prolonged impairment in physical or mental functions? Can a registered oral surgeon or other oral specialist, licensed to be so by a provincial body be considered to be a medical doctor in that province for the purpose of certifying on Form T2201 that an individual has an impairment in speaking….

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Canada Revenue Agency, Capacity Law, Disability, Elder Care, Estate Planning, Fiduciary Professions, Geriatric Care Management, Guardianship, In the News, Power of Attorney

When can an attorney for property make charitable gifts?

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I was recently asked about whether, and when, an attorney for property can make charitable gifts on behalf of a grantor. The answer depends in part on whether the grantor of the power of attorney (the “POA”) is capable of managing property at the time the gift is made. While the grantor is capable, the attorney-grantor relationship is mainly one of agent and principal.[1] The attorney’s primary responsibility is to….

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Estate Planning, Fiduciary Professions, Home-Right

DIRECTOR/EXECUTOR LIABILITY under the Income Tax Act

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The deceased was the sole owner and director of a corporation. In your due diligence, you have discovered the corporation has not filed corporate tax returns for one or more fiscal year ends prior to the date of death. To date, you have been unable to determine whether there are any assets in the corporation. However, you have determined that the corporation owed money to the Canada Revenue Agency (“CRA”)….

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Estate Planning, Fiduciary Professions, Home-Right

Foreign Executors Must Be Careful to Follow the Rules

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A recent decision of Justice D. M. Brown, Re Estate of Albert Applegath III, provides an overview of the necessary steps a foreign executor must take to have her authority recognized in Ontario. Albert Applegath III died a resident of New Mexico. His will appointed his wife, Clavis, as executor of his estate. After applying to the New Mexico district court, Clavis was granted “Letters Testamentary” appointing her as the….

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Estate Litigation, Fiduciary Professions, Home-Left, Home-Right, International
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