In the News

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JOINT TENANCY AND PROBATE AVOIDANCE – A QUICK REVISIT

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When developing estate plans for clients with property of a capital nature (real estate, marketable securities being a couple of examples), one of the questions I get asked more often than not is: How can I avoid probate? Can I just put someone else’s name on a document so it transfers to that person when I pass away? Are there any implications? Technically speaking, “putting someone else’s name on a….

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Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Planning, In the News, Interest, Investments, Joint Tenancy, Probate Tax, Property, Real Estate, Resulting Trust, Tax Issues, Trusts, Uncategorized, Wills

Knowledge: The Inheritors’ Perspective

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RBC recently released their Wealth Transfer Report 2017. Some of results confirm what we have read for years about the percentage of people who have proper Wealth Transfer Plans in place. What caught my eye, were the survey results about the inheritor experience and educating the next generation. By way of context, this survey was comprised of 3,105 respondents from across Canada, U.S.A. and the U.K. with average investible assets….

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Estate Planning, In the News, Uncategorized

Multiple Wills – the West Coast version

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This Blog was written by: Natalie Rouse Most of us are familiar with the 1998 decision of Granovsky Estate v Ontario. The case has been the leading authority to permit planning with multiple Wills in Ontario. The use of multiple Wills is now an integral part of the estate planning process for business owners and professionals. It is a frequently used and effective strategy in order to save (and in….

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Estate Administration and Probate Applications, Estate Planning, Executors, In the News, Probate Tax, Uncategorized, Wills

The Law Commission of Ontario Seeks Public Consultation

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The Law Commission of Ontario’s (LCO) Improving the Last Stages of Life project released two final research papers ahead of publishing its consultation paper. The LCO’s project examines how Ontario laws are shaping the quality of life of dying people and how end of life care can be improved in Ontario through a better understanding of the law by healthcare workers, patients, and substitute decision-makers. It also considers recommendations for….

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Capacity Law, Caregiving, Elder Law, In the News

The Latest Census Data: 2016

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I am not a big fan of statistics but these figures are worth noting. Today there are more seniors over age 65 than children under age 14. Not only are we living longer but adults over 100 years of age are the fastest growing age group. Today’s life expectancy is 80 years for men and 84 years for women. Good news if you are a single fellow. There are nearly….

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Costs, Elder Care, In the News

OFFSHORE ESTATE PLANNING AND MONEY TRANSFERS: A WORD OF CAUTION

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Just I am completing my personal income tax return and assisting many others with theirs, I continue to cling to the belief that most Canadians pay their fair shares of taxes. However, it appears many do not by “hiding” their money in offshore tax havens, sometimes under the guise of estate planning. There has been a lot of publicity in the past couple of years on how wealthy individuals around….

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Canada Revenue Agency, Canadian and US Tax Treaty, Estate Administration, Estate Planning, In the News, Investments, Tax Issues, Uncategorized
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