All About Estates

Month: November 2017

Total 21 Posts

Curtailing Frivolous Will Challenges

In Seepa v. Seepa, the court called for a “culture shift” away from boiler plate, consent orders for directions, which are routinely granted in will challenges on the Toronto Estates List. Instead, the court will assess the quality of the allegations made by the applicant will challenger to make out “a minimal…

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Canada Pension Plan Survivor Benefits

It’s no surprise that when one spouse dies there may be a sharp decline in household income suggesting some time is spent planning for the change.  A recent article (https://www.advisor.ca/tax/tax-news/shedding-light-on-the-cpp-survivor-benefit-241094?email=yes) shed light on the CPP survivor benefit that is both interesting and worthy of note. A survivor for purposes of…

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Ontario’s Plan For Us To ‘Age With Confidence’

Last January 2017 the Ontario government recognized that Seniors in Ontario are a growing force that needs to be better serviced and recognized and created its own stand alone Ministry, namely the Ministry of Senior Affairs. It has previously been housed within the Ministry of Infrastructure. Yes I thought they…

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Occupation of the Principal Residence held in an Alter Ego Trust

The CRA was asked whether the fact that the spouse of the settlor/beneficiary of an alter ego trust inhabits the principal residence of the trust would taint the trust for the purpose of subparagraph 73(1.01)(c)(ii) of the Income Tax Act (“subparagraph 73(1.01)(c)(ii)”). The CRA’s response was favourable. It explained that…

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Rest in Peace (or at least in bits and bytes)

This Blog was written by: Carol Willes Recently I co-presented to fellow estate professionals about practical challenges that might ambush an executor or attorney for property when encountering digital and other unique assets in an estate. We uncovered some fascinating and disturbing issues that can present themselves for the unfortunate…

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So, you want to be an Executor – Take Heed!

Today’s blog was written by guest blogger Wendy Templeton. Wendy Templeton practices in the area of Wills, trusts, tax and estates at LLF Lawyers LLP in Peterborough. She is a well-known author and lecturer and currently contributes to the Diploma Program of the Society of Trust and Estate Practitioners of Canada (STEP),…

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Estate Planning – A Lesson in Communication

So I was meeting with the beneficiaries of an estate to finalize some of the tax filings to be made. The tax filings reflected a series of transactions completed to eliminate double taxation on the disposition of some of the estate’s assets. What was causing the possibility of double taxation…

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Lest We Forget

In Flanders Fields the poppies grow… Remembrance Day is a significant day in the lives of many who endured the challenges of living during war times. As benefactors of their sacrifice, we sometimes forget that peace is a gift and the high price that was paid for it. Today we…

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New Amendments to the Principal Residence Rules Relating to Trusts

On October 3, 2016 the Minister of Finance announced a series of tax measures relating to the principal residence exemption. The October 3 measures had not been implemented when the government introduced its budget on March 22, 2017. As part of that budget, the government confirmed its intention to move…

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Gifting Personalty

This Blog was written by: Sally Lee, J.D. In an old New York Times article, I read about Jackie Kennedy Onnasis’ personal effects being initially valued at $6 million and later sold at auction for $34.5 million. The IRS, no doubt, went after its share. When I meet clients for…

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