All About Estates

Month: July 2017

Total 12 Posts

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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My Best Interests, and Yours Too?

The recent case of Tarantino v. Galvano, 2017 ONSC 3535, raises a variety of issues familiar to estate litigators – powers of attorney, capacity, quantum meruit claims, the duty to account and the rules surrounding the removal of an estate’s executor. In this case the deceased, Rosa Filippo Galvano (“Rosa”) had…

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Family trust and double tax

The Canada Revenue Agency (CRA) issued a technical interpretation on the tax treatment of trust income where there was a distribution from the trust to beneficiaries who weren’t entitled to the distribution in the first place. The trust was established for the benefit of children who were minors at the time of…

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A Terrific Bday Gift- A Dementia Strategy

Congratulations Canada! 150 years young and we are living longer than ever. Along with long life often comes disability and for many dementia is, in my opinion, the most threatening disease of today. Finally we have joined the ranks of the more progressive countries, those that are preparing themselves for…

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The New Surrogacy Rules in the Children’s Law Reform Act

The new parentage rules in the All Families Are Equal Act (Parentage and Related Registrations Statute Law Amendment), 2016, S.O. 2016, c. 23 (“Act”), include rules for determining parentage where surrogacy is used. The surrogacy rules became effective on January 1, 2017 and are largely set out in sections 10…

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The National Gallery of Canada’s Purpose

At the recent opening of the new Indigenous and Canadian Art Galleries at the National Gallery of Canada (NGC), Director Marc Mayer made a fascinating throwaway comment. Due to the inclusion of historical objects and artifacts made by Canadian indigenous people NGC had to redraft its legal purposes.  In other…

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