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Elder Orphans

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You may already be familiar with the terms. It refers to older individuals who do not have any family to provide care for them. They have either outlived their family or are estranged from them. With our aging demographics we are working with many single women who do not have any children. Society has shifted and traditional models of care that were supported by nuclear and extended families and communities….

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Elder Care, Geriatric Care Management, Power of Attorney, Uncategorized

Caution Required: Gift by a Graduated Rate Estate of a Capital Interest in a Residual Trust

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The CRA was recently asked to consider whether subsection 118.1(5.1) of the Income Tax Act would apply to a gift made to a qualified donee of a capital interest in a testamentary charitable residual trust. Subsection 118.1(5.1), if applicable to charitable gift, allows the tax credit in respect of the gift to be claimed by the testator in either or his or her last two taxation years or by testator’s….

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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

Going Gently Into The Good Night

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Last week was Canada’s National Hospice Palliative Care Week. So what is palliative care? Since its inception in Canada in the 1970’s, things have changed quite a bit. Only a few years ago, the term palliative care and the public’s general understanding, was that it meant the end was imminent and all proactive treatment was to be stopped. Patients would hear the term ‘palliative care’ and it would mean less….

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Hidden treasure leads to hidden problems

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This Blog was written by: Robert Boyd We have all read articles detailing how people have stash millions of dollars under their mattress or, executors discover vast quantities of gold discovered at the home of a recently deceased individual. From an estate planning perspective, this may come as a huge windfall to the beneficiaries of the estate, but one has to wonder, what are the practicalities of dealing with the….

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Estate Administration, Uncategorized
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