Total 676 Posts
April 16 is National Advance Care Planning Day. If this blog is the only place you are hearing about Advance Care Planning today, then please share it, because it likely means you are not alone! This is the ‘Speak Up’ campaign and by making this a National event, it serves as an important reminder that we need to think about and write down our wishes, on how we want to….
Advanced Care Planning Continue Reading »
UncategorizedOn April 11th, 2019, Ontario’s Ford government released its first budget. Of note to estates practitioners, as of January 1, 2020, Estate Administration Tax (commonly referred to as “probate fees”) will not be payable on the first $50,000.00 of an estate’s value. Currently, probate fees are levied at a rate of $5 per $1000, or part thereof, of the value of estate assets between $1,000.00 and $50,000.00, and a rate….
Budget 2019: A Change to the Estate Administration Tax Continue Reading »
UncategorizedThe 2019 Federal Budget was uneventful in terms of charitable incentives (journalism aside), but there are two proposals that will directly affect giving. The first relates to donations of cultural property – especially art with foreign origins – and the second to employee stock options. The former represents the reinstatement of a long-standing incentive, while latter an erosion. Cultural Property First the good news. The Budget reversed a 2018 federal….
Budget 2019: Erosion of Charitable Incentives Continue Reading »
Philanthropy/Charitable Giving, UncategorizedLife insurance policy – rollover at cost? In a recent technical interpretation, the Canada Revenue Agency (“CRA”) confirmed that where a spousal trust is required to pay the life insurance premiums on a policy it owns and is the beneficiary of the policy, a rollover at cost pursuant to the relevant section of the Income tax Act (“ITA”) is not available on the original transfer of assets to the trust…..
SPOUSAL TRUSTS : COUPLE OF UPDATES Continue Reading »
Canada Revenue Agency, Estate Administration, Insurance, Interest, Investments, Spouse, Tax Issues, Trustee, Trusts, UncategorizedToday’s blog was co-written with Demetre Vasilounis, Student at Law at Fasken LLP. As science’s capability to bend the laws of nature becomes wider and wider, our laws will have to develop ways to tackle the challenges that will inevitably arise from such scientific advancement. One concept which is becoming increasingly more popular in this respect is the extension of human life, or, in other words, the concept of reanimation….
Reanimation, Immortality and Estates Law Continue Reading »
UncategorizedThis blog was written by Sally Lee, LLB – Estate and Trust Consultant with Scotia Wealth Management Recently, I met a prospective client (let’s call her Jane) who told me she did not have anyone to appoint as her attorney for personal care. It appeared that this issue was the barrier to the rest of her estate planning because she had “no one”. As her investment advisor and I began….
Pre-arranging for Personal Care Continue Reading »
Caregiving, Elder Care, Geriatric Care Management, Power of Attorney, Uncategorized