Total 675 Posts
A friend sent me this Mother’s Day greeting: “To the World You are a Mother. But to your Family You are the World!” I don’t know who wrote it, but I believe the sentiment. We all have had a mother and chances are this person shaped our lives more than any one else. For many of us, our mothers were our first loving and significant relationship. Our mothers influenced us,….
Hey You Mother….. Continue Reading »
UncategorizedAn estate planner’s clients typically express a desire to minimize taxes payable on death, including Estate Administration Tax (“probate fees”), which are payable on the value of the assets governed by a Will which is probated. For many clients, their home is their asset of most significant value. With the average price of homes in Ontario as of March 2018 at $576,950, which would give rise to probate fees of….
Real Property and Probate: Quick Tips and Traps Continue Reading »
UncategorizedWe often write about the benefits (and some pitfalls) of gifting, before and after death. Personally, when I recommend gifting, I assume that unless there are specific outcomes required to realize on the gift, a gift is exactly that, a gift – something transferred voluntarily without expectation of getting it back because you changed your mind. A recent court case appears to support this assumption. According to Johnston v. Song, 2018….
A Gift is a Gift Continue Reading »
Charitable Giving, Estate Planning, Family Conflict, Investments, Probate Tax, Property, Real Estate, Separation, Spouse, Uncategorized
Johnny Hallyday, referred to as the “French Elvis”, leaves behind a string of ex-wives and disappointed beneficiaries. His recent death has resulted in litigation over his multi-million dollar estate, with the central issue being whether French or California law governs the distribution of his estate. It is not uncommon for Ontarians to have property in another Canadian province or in another country. Depending on the type of property, law other….
French Elvis has Left the Building Continue Reading »
UncategorizedUnder the current rules, a trust only needs to file an annual tax return but generally does not need to file the return if it does not earn an income or make any distributions in the year. (Notwithstanding that the Canada Revenue Agency has increased its demand for “nil returns” to be filed under certain circumstances). Further, there is currently no requirement for the trust to report the specific identity….
TRUST REPORTING: NEW REQUIREMENTS COMING SOON! Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Planning, In the News, Tax Issues, Trustee, Trusts, Uncategorized, United States
I was intrigued by the following headline “How a stationary bike, paired with Google Street View, helps seniors with dementia” so decided that this would be the start of this morning’s blog. One of my preferred themes is dementia and the impact it has on everyone. No surprise as “dementia is the greatest global challenge for health and social care in the 21st century: around 50 million people worldwide have….
Biking Around With Dementia Continue Reading »
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