All About Estates

Month: August 2016

Total 22 Posts

Did fraudulent concealment stop the clock?

In Roulston v McKenny et al, 2016 ONSC 2377, the deceased’s ex-wife had a claim against his estate if a life insurance policy lapsed. Even though the estate trustee knew that the policy had lapsed, she withheld this information from the ex-wife – and then argued the ex-wife’s claim was…

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More on Graduated Rate Estates

If someone has a second will pertaining to foreign assets, and the domestic executors either do not know about this second will, or cannot deal with the foreign executors on a timely basis, would the status of the estate as a graduated rate estate (GRE) be invalidated if only the domestic executors elected for the estate to be a GRE?

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Community-based Scholarships

Establishing a scholarship, bursary or other educational award is a popular charitable purpose in estate plans of the charitably-minded.   There are two ways to create these awards: 1) establish at an educational institution; or 2) establish at a foundation or charity to target a particular community.  Generally educational institutions,…

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My First Experience with Medical Assistance in Dying (MAID)

After approval of the legislation, it did not take long for one of my patients (identity disguised) to request access to MAID.  I knew that this was a possibility because of previous discussions regarding the eventual outcome of her debilitating and progressive medical condition.  However, it had been couched in…

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Where do our taxes go?

Do you know what the average cost of care is in Ontario for a hospital stay? How about the cost of care to remain at home with support services provided by the public sector? The figures may surprize you!

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A Gift or not a Gift? That is the Question

Many people transfer assets to an adult child, but they often do not clearly express why they have done so. The transfer may be meant as a gift, a way of avoiding probate fees, or to simply allow access to a bank account so that their child may help manage…

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TRUST INSTALLMENT REQUIREMENTS, INTEREST AND PENALTIES

One of the many tasks associated with the administration of trusts is making sure all tax payments are made on a timely basis to protect the trust and its beneficiaries from avoid interest and penalties. In this regard, most trusts are required to make installment payments. Prior to 2016 only…

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PASSING OF ACCOUNTS – PART I “WHAT DOES IT MEAN and WHY IS IT NECESSARY?”

As part of any administration, it is important for the Executor or Trustee to maintain records of all transactions taking place within the estate or trust

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MYTHS, MYTHS AND MORE MYTHS – WHAT’S THE REALITY?

Over the course of my practice I’ve had clients, family and friends all make pronouncements with respect to matters related to Wills and estate planning as if the statements are fact, when in reality they are often myth. Being someone whose profession operates on fact, I will try to set the record straight. From time to time though, the prosthelizer is so certain in his or her “cocktail party advice”, that attempting to set the record straight is challenging. In today’s blog I’d like to debunk some of the myths.

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Getting Around Town

Notice any dings or dents on the car? What happens when someone can no longer drive? Transportation is a major issue for seniors. Losing one’s drivers license triggers many emotions- especially loss of independence. ‘Giving up the keys’ is a common discussion in many households and most often when adult children have concerns about their parent’s driving habit

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