Total 679 Posts
In a follow up to my blog post of September 18, 2020 (“Part One”), this blog will consider what it means if you have received notice that you are a residuary beneficiary of an estate. You are probably wondering what a residuary beneficiary is. To understand this, you must understand what the term residue means. As I addressed in Part One of my blog, the term residue is defined to….
You’ve Got Mail – Part Two Continue Reading »
UncategorizedThere is a saying among charitable gift planners: “beware of in-kind property donors who show up with valuations in hand.” In other words, eager donors and their gifts may be too good to be true. This is folk wisdom that points to a serious issue. Donors, executors and charities often struggle with in-kind donation valuation. Who commissions and pays for in-kind donation appraisals, the donor or charity? Standard Practice The….
Valuing In-kind Donations Continue Reading »
Estate Donations, Estate Planning, Philanthropy/Charitable Giving, UncategorizedThis Blog was written by Angèle LeBlanc, Estate and Trust Advisor at MD Private Trust Company which is part of Scotia Wealth Management The Medical Assistance in Dying, Bill C-14 (MAiD) was enacted into law on June 17th, 2016. Since then, some of us may have heard of cases where individuals, even clients, have chosen to end their life with MAiD. With every new law passed, however, litigation is certain….
Until Death Do Us Part… Continue Reading »
Courts, UncategorizedAs we head in to the Fall of 2020, we are quickly approaching the new trust reporting requirements. The new trust reporting rules come into effect with taxation years ending after Dec. 30, 2021.As a reminder to administrators, if a trust continues to be in place past Dec. 31, 2020, the trust will need to comply with the new reporting rules and the trust administrators must provide the following additional….
Look Out: The New Trust Reporting Rules Are Almost Here Continue Reading »
Canada Revenue Agency, Estate Administration, Executors, In the News, Practice Management, Tax Issues, Trustee, Trusts, Uncategorized
In the context of estate planning, I constantly am reminded of the need for a proficiency in family law. Here’s one reason why. One of the key questions we ask clients is, “Do you have a marriage contract?” The role of a drafting lawyer isn’t, in my view, to simply draft documents. Rather, it’s to anticipate where issues may arise and ensure those issues are considered as part of the….
A crisis may change long-held views. In reaction to the devastating economic effect of COVID-19 a couple of regulators have loosened their rules related to two different types of charitable property. Will these changes be temporary or will they lead to long-term change? And what effect does it have on estate donations? Ontario The first announcement was from Ontario. In late March, the Public Guardian and Trustee (PGT) released temporary….
Loosening Standards for Charitable Property Continue Reading »
Charitable Giving, Estate Donations, Philanthropy/Charitable Giving, Uncategorized