All About Estates

Month: November 2016

Total 19 Posts

Credibility is in the Eyes of the Judge

I previously blogged about the presumption of resulting trust, which applies to gratuitous transfers between a parent and an adult child (equity presumes a bargain, and not a gift).   Rebutting the presumption of resulting trust (i.e. proving that the parent intended to make a gift to the adult child) often comes down…

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The OPGT and the Case of the Missing Estate Trustee

As regular readers of this blog well know, not everyone dies with a will. When this happens, the Succession Law Reform Act (Part II) sets out who are the beneficiaries of the estate, while the Estates Act (section 29) ranks in order of priority who may apply to be estate…

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Winter is Coming

There are many factors that can be attributed to this spike in death rates but the most plausible explanation is the change in weather.

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Principal Residence Exemption and Trusts

In October, fellow blog-poster Corina Weigl wrote regarding the impact on individuals of recent changes to the rules surrounding the principal residence exemption. In addition to the changes impacting individuals, significant changes are proposed that will restrict the ability of trusts to claim the principal residence exemption residence for tax…

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Turkey, Tradition and Dementia

Family dinners can be stressful at the best of times. Enjoying the holidays with a family member with dementia takes a little planning, tolerance and respect.

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Postponed Power of Attorney for Property and Unforeseen Consequences

Under the Ontario Substitute Decisions Act[i] (SDA), power of attorney (POA) for property appointments are made through a continuing or postponed POA for property. The continuing POA for property is one that takes effect immediately regardless of the grantor’s capacity to manage property and continues, if needed, through the development…

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Stock options held at death

The Department of Finance released a Notice of Ways and Means which included amendments to the tax rules of interest to executors. On such amendment dealt with the security option benefit of the deceased.

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Do you know any Jay Walkers?

Have you seen seniors trying to cross a busy street where there are no traffic lights? Many think they can walk faster than the speeding car headed their way. Not so….. Becoming allies in promoting safety for seniors can encompass a broad range of topics from elder abuse to fraud…

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Must an estate pay for a charitable pledge by the deceased?

Canadians are charitable people. According to Statistics Canada, 82% of Canadians made a financial donation to a charitable or non-profit organization in 2013 (the latest year statistics are available). The amount given by donors increased from an annual average of $469 in 2004 to $531 in 2013. The most generous…

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TFSA’s – a refresher on the Rules

Borrowing heavily from some recent literature on this subject, I though it may be useful at this time of the year to quickly revisit some of the rules surrounding tax free savings accounts (“TFSA”) Contribution room for an individual’s TFSA is the total of the TFSA dollar amount for the…

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