All About Estates

Month: July 2017

Total 17 Posts

Alternative Level of Care- Take 2

Our Ontario government is short sighted. We/They have not planned well for the changing and aging of our society. There simply is no place for those of us who need care and are not fortunate enough to either have the funds to pay for it themselves or have the necessary…

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More from the CRA on Survivor Payments from TFSAs

In my last post, I wrote about a recent Technical Interpretation from the CRA where the CRA was asked to consider whether a survivor payment could be made by an executor out of a deceased taxpayer’s TFSA (or, more specifically, former TFSA) to the deceased’s spouse in satisfaction of a…

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Consolidate, for Efficiency’s Sake!

The 2014 Supreme Court decision, Hryniak v Mauldin, directly addressed the need to increase access to justice. In that case, the Supreme Court clarified and broadened a court’s fact-finding powers on summary judgment motions with the goal of providing litigants a faster procedure in appropriate cases. In the same spirit,…

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Capacity Assessments and Biases to Beware of

Capacity assessments regarding capacity to manage property, testamentary capacity or capacity to appoint a power of attorney for property (POA), whether conducted contemporaneously or retrospectively, rely upon whatever materials/information that is provided to an assessor to review. Materials may include relevant medical records, previous wills and POA documents, interview of…

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Have You Been Scammed Lately?

Have you been called from someone saying they are from a particular computer company and they want to fix the virus in your software program? How about the caller who identifies themselves as your granddaughter’s friend who they had their wallet stolen, is stranded and needs your help? Or the…

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Government Targets Tax Planning for Private Companies

July 18, 2017 was a relatively quiet day in my office. That is until I received a flurry of emails regarding a release by the Department of Finance.  In particular, the Department of Finance issued draft legislation which, if passed, will significantly change the nature of tax planning for Canadian…

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An XS-Cessive Inheritance

This Blog was written by: Natalie Rouse As some of you may have read in recent celebrity news such as the UK Mirror, the daughter of Michael Hutchence (a founding member and lead singer of rock band INXS) and Paula Yates (television personality), Heavenly Hiraani Tiger Lily (“Tiger”), is currently…

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The Principal Residence Exemption: Can you Divide and Conquer?

Recently, the Canada Revenue Agency (‘CRA”) was asked for its opinion on a fact situation with implications on the availability of the principal residence exemption for tax purposes, that I think also has applicability to estate planning in general and to some of the issues one can encounter when trying…

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CCAC & Patients First- Bill 41

What’s new with the CCAC? As readers know our public sector delivery system has been delivered via the Community Care Access Centres (CCAC) which are located across Ontario. The CCACs have been funded by the Ministry of Health and Long Term Care via the Local Health Integration Networks (LHIN) strategically…

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Under what Circumstances can an Insurer Deny Payment of a Death Benefit to a Beneficiary under a Life Insurance Policy?

Depending on the specific terms of an insurance contract, under certain conditions, an insurer may adjust a death benefit under a life insurance policy, or deny payment altogether. For example, if an insured person commits suicide within two years after the day the policy or coverage is issued or last…

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