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Estate donations, Time and Flexibility

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Last week I visited Princess Margaret Cancer Centre in Toronto for a grant status update meeting with a family foundation. I used to work at the Princess Margaret Cancer Foundation, but left 20 years ago. Returning after two decades provided me perspective on two key charitable estate planning considerations: time and flexibility. The Cancer Centre and the treatment of cancer has changed massively since I worked there. An obvious sign….

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Charitable Giving, Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized

Estate Applied to Have Filings Made by Taxpayer Lacking Mental Capacity Set Aside

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In Ntakos Estate v. The Queen, 2018 TCC 224, a family business was owned by the deceased taxpayer, Anna (after her husband passed away in 1995) with two brothers-in-law through a holding corporation. Anna’s mental and physical health declined from 1995 until her death in 2004. She was diagnosed in 2002 with cancer, and apparently lacked mental capacity after that date. In 2003, the accountant for the family business got….

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Canada Revenue Agency, Capacity Law, Estate Administration, Family Conflict, Investments, Property, Small Business, Spouse, Tax Issues, Testamentary Capacity, Uncategorized

A Cautionary Crypto-Tale

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My fellow blogger Maureen Berry and colleague Demetre Vasilounis, Student-at-Law, recently blogged about a form of digital assets that has received limited treatment in Canadian estate law commentary, namely digital assets that continue to generate revenue after the death of the owner, such as the YouTube and Twitch “Partner” programs. To the above we can now add a further consideration to the world of estate planning for digital assets, that….

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The New Dope- For Seniors and It’s Legal

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Psst, what do you know about….. Mary Jane, Jay, Doobie, Weed, Pot, Grass, Dope, Ganja,Herb, Aunt Mary, Skunk, Boom, Roach…… about cannabis? Despite many in the population having used (medical) marijuana for a number of years to soothe a variety of conditions from migraines to anxiety to cancer, recently legal cannabis usage has brought about significant changes in both attitude and access. When marijuana became legal in Canada in October….

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Seriously Delinquent: The IRS Can Have Your Passport Seized for Not Paying Taxes

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Guest written by Demetre Vasilounis, Student-at-Law For those with assets in, or some other connection to, the United States, it is important to take note of the fact that the country’s Internal Revenue Service (IRS) has gained one more tool to enforce tax liabilities on taxpayers. That tool is the power to revoke, limit or deny the issuance of a U.S. passport. U.S. Congress first enacted this controversial power on….

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Cambria? Calibri? Does The Font Matter?

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I read an article about quite an amusing case recently. An executive went to great lengths to shield his properties from creditors. In “1995” a declaration was executed purporting to establish a trust for the executive’s Muskoka cottage and in “2004” a declaration was executed purporting to establish a trust for the executive’s Caledon farm. The executive claimed that he didn’t legally own the properties but rather they were held….

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