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TFSA’s and Survivor Payments: Impact of Fair Market Value.

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In this space, sometime ago, a fellow blogger wrote about how survivor payments made out of a deceased’s tax free savings account (TFSA)  to the deceased’s spouse TFSA would qualify as an “exempt contribution” (i.e. the contribution room in the surviving spouse’s TFSA would not be affected by the addition of these funds), even if the spouse was not designated beneficiary of the TFSA. What are the implications to the….

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Canada Revenue Agency, Estate Administration, Investments, Property, Tax Issues, Uncategorized, Wills

A Financial Opportunity To Kick-Start Your Summer; Family Income Splitting Loans At A New, Low Prescribed Rate

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This post was contributed to by Corina Weigl, Maureen Berry, Kathryn Walker, and Tamar Silverbrook, of Fasken. If you have a family member who is in a lower tax bracket than yourself, an upcoming change in the Canada Revenue Agency’s (“CRA”) prescribed interest rate will create a financial opportunity.  Effective July 1st, 2020, the prescribed interest rate will drop to 1% , increasing the tax advantages available through the utilization….

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From e-Wills to Blockchain Estates

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This blog was written by Isabelle Cadotte – Estate and Trust Consultant with Scotia Wealth Management One of the silver linings of the pandemic has been our collective rethinking of how we work and our willingness to embrace technology that helps us stay connected and work smarter. From remotely sworn affidavits, to virtual courtrooms and e-filings, courts across the country are embracing the opportunity to modernize their processes and increase….

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Contracts, Courts, Estate Planning, In the News, Uncategorized, Wills

More Random Thoughts in Isolation

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Still in isolation, still feeling random… 1.  There’s no way that this post is going to be as good as my first one 2.  One day holograph wills are going to be replaced by hologram wills 3.  Once we’re all back in the office, it’s going to feel like the first day of school after summer break.               Wow! You guys got tall! 4.  Why….

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Should Foundations Give More?

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Charitable foundations are grappling with their response to COVID-19.  A Canadian initiative, Give5.ca, is advocating for increased granting through a time limited pledge in 2020.  Simply, the ask is for foundations to pledge to grant at least of five percent of their assets to registered charities in 2020.  That’s it. There are no restrictions related to cause or type of charity. Give5 is a movement initiated by a broad coalition….

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Philanthropy/Charitable Giving, Uncategorized
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