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One in Ten: Why Bequest Donors Don’t Inform Charities

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One in ten.  That, according to charitable sector studies, is how many estate donors inform the charities in their will of their intentions.  While this ratio varies by charity it underscores a fascinating paradox.  Bequest donors trust charities enough to make them beneficiaries of their estate, but they don’t trust them enough to tell them in advance. The Paradox This paradox is frustrating for charities.  Charities spend a lot of….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized

Lifetime Benefit Trusts

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A lifetime benefit trust (LBT) is a personal, testamentary trust for beneficiaries that are financially dependent due to mental infirmity. Most people are aware that the taxable income inclusion of a RRSP on death can be avoided by rolling it over to a spouse. If the circumstances are appropriate, the same can be done by rolling the RRSP in an LBT and purchase a qualifying annuity under the relevant clauses….

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Significant Changes to Estate Rules May Come!

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Today’s blog is being brought to you by our guest bloggers, David Rosenbaum and Anna Chen   On February 16, 2021, Bill 245 Accelerating Access to Justice Act, 2021 (“Bill 245”) was introduced by the Ontario legislature.  Bill 245 passed Second Reading on March 2, 2021.[1] If passed, Schedules 8 and 9 of Bill 245 will make significant changes to the Substitute Decisions Act, 1992 (the “SDA”) and the Succession….

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Power of Attorney for Property: The other sign of the coin

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This Blog was written by Suzanna Walter, Estate and Trust Consultant with Scotia Wealth Management In my previous blog, Road Testing your Incapacity Plan, I reviewed incapacity planning from the point of view of the Grantor (the person appointing the attorney) in the Continuing Power of Attorney for Property (CPA). Now, I want to look at CPA from the other side of the coin; namely from the point of view….

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Power of Attorney, Uncategorized

What March 8th Means To Me

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“I am woman, hear me roar In numbers too big to ignore And I know too much to go back an’ pretend ‘Cause I’ve heard it all before” – Helen Reddy 1971 As the ‘regular’ Monday blogger, I am very pleased to have an opportunity to connect with you today. Today is a special day for a few reasons. It is International Women’s Day- a day to recognize all of….

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Caregiving, Uncategorized

Estate Planning – Effective Family Meetings

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This Blog was written by Sara Hillier, Estate and Trust Advisor at MD Private Trust Company which is part of Scotia Wealth Management “Oh hey! We’ve been meaning to ask you. Will you be our estate executor[1]?” a parent inquires of their eldest child over brunch. “Of course! No biggie.” comes the quick reply. “Alright it’s settled then.” and the conversation moves hastily on to more upbeat topics. After all, contemplating the….

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