Total 678 Posts
Assume Mr. X died in early 2016. Mr. X’s estate appears to meet all of the requirements to be a graduated rate estate (“GRE”), except the 1st return has not been filed as yet to formally designate it a GRE. The estate made a charitable donation in early 2017; at the time of the donation, the estate had not met all the requirements of the GRE definition in the Income….
This Blog was written by Robert Boyd Absurd as the title may suggest, this is a possibility. The technology now exists for a robot to tweet, send and reply to text messages and post on social media profiles after a person’s death. The Artificial Intelligence(AI) will mimic the deceased’s personality and recreate communications in the same style as they would while they were alive, even taking on their sense of….
Who wants to live forever……………through a digital bot version of themselves? Continue Reading »
Estate Administration, In the News, Uncategorized
This month, the Ontario Court of Appeal released its decision in Moore v. Sweet, 2017 ONCA 182. The case discusses several issues, but its discussion of unjust enrichment carries the day. In particular, the decision hinges on whether an irrevocable beneficiary designation executed subsequent to an agreement to designate a different beneficiary of the policy constitutes a juristic reason for the enrichment of the irrevocably designated beneficiary. The essential facts….
Fresh From the Ontario Court of Appeal: A Curious Case of “Just” Enrichment Continue Reading »
Uncategorized
This Blog was written by: Gosha Sekhon I recently visited India and thought I would share some interesting information. My family has travelled back to India on numerous occasions since my parents immigrated to Canada in the early 1980s. On this trip, we were surprised to learn about the federal government’s plan to demonetize certain currency notes. In 2016, the federal government of India, led by PM Modi, took bold….
Demonetization – Dreams Become Nightmares Continue Reading »
Estate Administration, International, UncategorizedAs we head toward another federal budget to be released on March 22, there is much speculation about a change in the capital gain inclusion rate from 50% to 66.67% or 75%. Current Capital Gain Tax As the rules are currently written, only 50% of a capital gain is subject to tax in Canada. For an Ontario resident, the combined Federal and Ontario tax rate applicable to a high rate….
Unrealized Capital Gains: Take Action Now? Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Planning, In the News, Investments, Property, Real Estate, Tax Issues, Trusts, UncategorizedIs a donor obliged to provide ongoing support to a charity after a building or facility is named in their honour? The legal answer is “no”. Naming, however, may stir up complex feelings of ownership and hope, which often lead to misunderstandings — even after the donor is dead. Ownership Donors and their descendants understandably feel ownership for a facility in the family name. The place, for example, may define….
Does Donor Recognition Create Obligations? Continue Reading »
Estate Administration, Estate Donations, Philanthropy/Charitable Giving, Uncategorized