Property

Total 146 Posts

TFSA’s and Survivor Payments: Impact of Fair Market Value.

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In this space, sometime ago, a fellow blogger wrote about how survivor payments made out of a deceased’s tax free savings account (TFSA)  to the deceased’s spouse TFSA would qualify as an “exempt contribution” (i.e. the contribution room in the surviving spouse’s TFSA would not be affected by the addition of these funds), even if the spouse was not designated beneficiary of the TFSA. What are the implications to the….

TFSA’s and Survivor Payments: Impact of Fair Market Value. Continue Reading »

Canada Revenue Agency, Estate Administration, Investments, Property, Tax Issues, Uncategorized, Wills

ON A PAPER NAPKIN, DID YOU SAY?

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The Queen’s Bench for Saskatchewan was recently asked (in the case of Gust vs. Langan et al., 2020 SKQB 42) whether a will handwritten on a paper napkin created by the deceased sometime before his death met the requirements of being a valid will under the relevant Act to permit it to be accepted as a valid holograph will.  The Court had to decide whether the will met the test….

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Contested wills, Courts, Estate Administration, Estate Litigation, Family Conflict, Property, Wills

Low- Interest Environment: Time To Take Advantage Again.

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In past blogs, we discussed income splitting arrangements available to individuals who wish to loan funds to his/her lower income spouse or adult child, or in the case of minor children, a discretionary family trust. Such loans would be used to invest in income producing properties such as marketable securities, mutual funds, real estate income trusts (to name a few). The income from these properties less the interest paid on….

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Business Succession Planning, Canada Revenue Agency, Estate Planning, Interest, Investments, Loans, Property, Real Estate, Small Business, Spouse, Tax Issues, Trusts, Uncategorized

How to Provide for Your Island in Animal Crossing: New Horizons After Your Death: Part I

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This is a three-part blog series that seeks to explore the manner in which one can conduct estate planning with respect to their copy of the popular 2020 Nintendo Switch video game Animal Crossing: New Horizons. Part I will discuss the importance of this topic and describe the applicability of a non-charitable purpose trust to this type of estate planning. Part II will examine the practical considerations for operating a….

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Estate Planning, In the News, Investments, Property, Trustee, Trusts, Wills

Estates Law and Privacy Law: An Incomplete Intersection (Part III)

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This is the third and final entry in a three-part blog series about the current state of estates law vis-à-vis privacy law. Part I focused on the relevant federal and provincial privacy legislation. Part II examined significant court decisions relating to this area. Part III will look at solutions for lawyers to help their clients manage their estate planning to be compliant with privacy law requirements. The previous two entries….

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Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Estate Planning, Executors, Property

Elder Financial Abuse During COVID-19

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A few weeks ago, I came across a media article about elder financial abuse involving the use of a power of attorney. In my view, this issue has even greater relevance today in light of the current COVID-19 lockdown, and the resulting physical isolation of our vulnerable seniors. The Story In 2016, 94-year-old Christina Fisher was living independently in an apartment in downtown Toronto. Christina was in the early stages….

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Elder Law, Estate Planning, Family Conflict, In the News, Power of Attorney, Powers Of Attorney and Guardianship Disputes, Property, Trustee
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