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Inadequate Execution of a Will led to Court Dispute

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In Bayford v. Boese 2019 ONSC 5663 the deceased Mr. Boese was the sole owner of a farm in Eastern Ontario he inherited from his parents. He never married and had no children. For two decades prior to his death, Mr. Boese was assisted in the operation of the farm by his friend, Ms. Bayford. Under a will made by Mr. Boese two years earlier, the farm property was to….

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Contested wills, Credibility, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Executors, Family Conflict, Power of Attorney, Uncategorized, Wills

Application of Reasonable Return – TOSI

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The Canada Revenue Agency (CRA) was recently asked their view on whether the “reasonable return” exception in would apply to preclude the application of the tax on split income (“TOSI”) rules. An adult individual who is resident in Canada (“Spouse A”) incorporated a company (“Opco”) to operate a non-services business. Spouse A’s initial investment in Opco was in the form of common shares of Opco that Spouse A received as….

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Transferring Wealth During Your Lifetime

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I was reading recently that approximately $30-trillion in assets will be shifting from one generation to the next across North America in the next few decades, according to consulting firm Accenture. A couple of years ago, I wrote about gifting cash or assets during one’s lifetime as an alternative method of distributing your wealth and possibly avoid taxes at time of death. Though there is no inheritance tax in Canada….

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Business Succession Planning, Estate Planning, Investments, Loans, Philanthropy/Charitable Giving, Probate Tax, Real Estate, Succession Planning, Tax Issues, Trusts, Uncategorized

Trick or Treat – Estates Edition

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This blog was co-written by Frederick Krueger Imagine you’re the executor of a horror writer’s estate. Everything is going to charity, except for his amazing summer house, which has been left to his ex-wife. The couple had a very messy divorce, but the ex-wife loved that home more than anything. The will says, “I hope this gift makes up for all the pain caused over the years.” Hmmmm…And oh yeah—the….

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Dementia and MAID

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Medically assistance in dying (MAID= Bill C14) for eligible Canadians was passed by federal legislation in June 2016.  To recap, eligibility includes: Being 18 years and older and mentally competent Having a grievous and irremediable medical condition Making a voluntary request for MAID that is not the result of outside pressure or influence Providing informed consent. Grievous and irremediable has been defined as: Having a serious illness, disease or disability….

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Elder Law, In the News, Medical Assistance in Dying, Uncategorized

Alberta’s Supported Decision-Making Authorizations

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This blog was written by Isabelle Cadotte – Estate and Trust Consultant with Scotia Wealth Management We’re all familiar with Wills, Enduring Powers of Attorney and Personal Directives but have you heard of Supported Decision-Making Authorizations (SDMAs)? SDMAs are available in Alberta for adult individuals who have mental capacity but may require assistance from a friend or family member when interacting with health care professionals. It can be particularly useful….

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Contracts, Disability, Elder Care, Healthcare, Uncategorized
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