Total 678 Posts
Whether you are a Royal watcher or not, today we are in mourning. Today, with the rest of Canada, the United Kingdom and the world, we mourn the loss of the longest-reigning British Monarch, Queen Elizabeth II. On Thursday September 8, 2022, the Queen passed away at the age of 96 at Balmoral Castle with her family by her side. Born April 21, 1926, Elizabeth Alexandra Mary, became the Queen….
Farewell Your Majesty Continue Reading »
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A Registered Education Savings Plan (“RESP”) is a cost-effective way of saving money for a child’s future post-secondary education. The concept of the RESP raises the question of who actually owns the funds therein. Is it the parent who contributes to the RESP (the “subscriber”) or the child for whom the RESP was created in the first place (the “beneficiary”)? According to Justice Faieta in Labatte v Labatte (“Labatte”), the….
RESPs, Trusts, and You Continue Reading »
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Overview We frequently hear the notion that the largest wealth transfer in modern history is commencing. With that, clients increasingly share their objective of multi-generational, or dynastic, planning. For me, as an estate planner, an immediate question arises, namely “How can we assist in accomplishing this objective? Evidently, a goal is their family’s success for years to come; how can we structure their estate plan to promote the financial protection,….
Multigenerational Succession Planning; The Hilton Family As An Example Continue Reading »
UncategorizedThis blog was written by Danna Fichtenbaum Headlines were abuzz last week detailing claims issued in Connecticut state court by two of the daughters (the “Daughters”) of Paul Newman – actor and creator of the Newman’s Own food brand – that Newman’s philanthropic endeavour, Newman’s Own Foundation (the “Foundation”), is failing to fulfil the now-deceased Newman’s charitable intentions. The Foundation benefits from the sale of products under Newman’s brand, Newman’s….
NEWMAN’S OWN FOUNDATION – NOT NEWMAN’S OWN INTENTIONS? Continue Reading »
UncategorizedThis blog has been written by Najib Painda, Law Clerk at Fasken LLP Religious and cultural values in Estate Planning As an immigrant growing up in different parts of the Greater Toronto Area, I was fortunate enough to be part of and experience diverse communities which embraced different ethnicities, cultures and religious beliefs. As a result, my relationships expanded to include the people around me within a melting pot of….
The Importance of Religious and Cultural Values in Estate Planning Continue Reading »
UncategorizedThe 2016 introduction of the Graduated Rate Estate (GRE) regime was accompanied by the “estate donations” rules. These Income Tax Act provisions altered the administrative and tax treatment of gifts by will, as well as direct designation gifts of life insurance, RRSP/RRIFs, and TFSAs. How are charities and executors managing with these rules six and a half years later? I’d say the experience is mixed. Estate Donation Features Let me….
Estate Donations: Six Years Later Continue Reading »
Estate Administration, Estate Donations, Philanthropy/Charitable Giving, Uncategorized