All About Estates

Month: June 2017

Total 17 Posts

Appointing a Continuing Power of Attorney for Property to Family vs. Statutory Guardianship; which is truly better?

Most seniors appoint a continuing power of attorney for property (CPOAP) for the sole purpose of not wanting the Office of the Public Guardian and Trustee (PG&T) to assume statutory guardianship of property under the Substitute Decisions Act (SDA) or Mental Health Act (MHA) should the person become incapable. The majority appoint…

Continue Reading

Ontario’s Non-Resident Speculation Tax

Recently the Government of Ontario followed the heels of the British Columbia Government by introducing a “non-resident speculation tax” (“NRST”). The NRST will apply to the purchase or acquisition of an interest in residential property located in the Greater Golden Horseshoe (the “GGH”) by individuals who are not Canadian citizens…

Continue Reading

Estates Administration Act Thwarts Dependant Support Claim

In MacDonald v. Estate of James Pouliot, 2017 ONSC 3629, the court considered a constructive trust and dependant support claim against an intestate estate. While the court granted a constructive trust, it dismissed the dependant support claim as the property at issue had already automatically vested in the beneficiary pursuant…

Continue Reading

The Prescribed Rate is About to Change – for Real this Time?

The prescribed rate is the minimum interest rate prescribed by the Canada Revenue Agency (“CRA”) that should be charged on various non-arm’s loans such as those made by you to your spouse or child (through a family trust). Such loans are a common device to split income with others in…

Continue Reading

Yesterday I watched the US Open & Thought About My Dad: Father’s Day- Take 2

Reposted from allaboutestates.ca This original post was from a few years ago. It does seem like only yesterday because, while time has not stood still, sometimes our sentiments don’t change. The event and message is the same. It is a few years later and there is a new US golf…

Continue Reading

Tidbits from the CRA

Earlier this week I had the pleasure of attending STEP Canada’s 19th National Conference, where I, along with over 700 other trust and estates professionals from across Canada, had the opportunity to hear from engaging and thought-provoking speakers on a diverse range of trust and estates topics. One of the…

Continue Reading

The Society of Trust & Estate Practitioners (STEP) Annual Conference

Earlier this week I attended the 19th annual National Conference of the Society of Trust & Estate Practitioners (“STEP”). I must congratulate Michael Dodick, Janis Armstrong and their whole team for putting on another very successful conference. The success of the conference is easily measurable, there were 720 attendees, making…

Continue Reading

Triumph of the Trustee Act

You may be forgiven for thinking that the expression “clear as mud” was created specifically to describe limitation periods. The policy rationale behind limitation periods is to create certainty and predictability by establishing a firm deadline by which a claim must be brought or else the claim is lost forever….

Continue Reading

Old Age Security Clawback – Grossed-Up vs Actual Dividends

The Canada Revenue Agency (CRA) was reminded by a taxpayer individual about a perceived lack of fairness when required to include the dividends received at a grossed-up amount when calculating net income rather than only including the actual amount of dividends received. The taxpayer felt this was unfair because net…

Continue Reading

Keeping Memories Alive

It is hard enough when a loved one forgets; but it is also very painful when family forget …. about who the older person is and who they were. Many times older people are seen as just that old folks- who may be wrinkled, forgetful, stooped over and hard of…

Continue Reading