Uncategorized

Total 686 Posts

Electronic Beneficiary Designations for Insurance Products

• • 0 Comments

In 2018, the Ontario government introduced amendments to the Pension Benefits Act to permit pension plan administrators to accept electronic beneficiary designations. Specifically, the Pension Benefits Act was amended to include the following provision (among others): Electronic designation of beneficiaries 30.1.1  (1)  Despite anything to the contrary in the Succession Law Reform Act, an administrator may permit members, former members and retired members to designate beneficiaries electronically for the purposes….

Electronic Beneficiary Designations for Insurance Products Continue Reading »

Uncategorized

Significant Tax Re-Assessment Due to An Estate Valuation Gone Wrong

• • 0 Comments

I have been writing about valuations for estate plan agreements, highlighting that they should be based on fair and reasonable methods, prepared in good faith, properly supported and documented at the time of valuation. In Lewin v. the Queen 2019 TCC 21, The Lewin Estate was appealing a significant tax reassessment of the deceased’s terminal return issued some five years after the original assessment. The issue to be decided is….

Significant Tax Re-Assessment Due to An Estate Valuation Gone Wrong Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Litigation, Executors, Investments, Tax Issues, Trustee, Uncategorized

Spring Holidays and Family Get Togethers

• • 3 Comments

Reposted from allaboutestates.ca This weekend we celebrated the first nights of Passover and Good Friday and Easter Sunday. Two major holidays that coincided, along with a statutory holiday enjoyed. For me and perhaps for many of you, these holy days have a traditional familial connection rather than a religious one. The foods eaten, or perhaps the foods not eaten, while symbolic of a religious theme, also provide a cultural comfort….

Spring Holidays and Family Get Togethers Continue Reading »

Uncategorized

Power of Attorney Fees Paid

• • 0 Comments

The Canada Revenue Agency (CRA) was asked whether compensation received by an individual acting under a power of attorney (POA) is required to be included in the individual’s income for income tax purposes. A POA is a legal document between two persons whereby one person (A) appoints another person and confers authority to the other person to perform specific acts on A’s behalf. Generally, compensation received by an individual for….

Power of Attorney Fees Paid Continue Reading »

Uncategorized

Advanced Care Planning

• • 0 Comments

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 »

Uncategorized

Budget 2019: A Change to the Estate Administration Tax

• • 0 Comments

On 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 »

Uncategorized
Scroll to Top