Archive for the ‘Estate Administration’ Category

Estate Administration from a Charity Perspective

Friday, July 31st, 2015

Not nearly enough thought or ink is dedicated to the process of estate administration by charities. They are grateful recipients of gifts by will, but they are also legal beneficiaries with administrative and fiduciary responsibilities of their own. Many charities receive a steady flow of bequests and deal ...

DISPOSITION OF JOINT ACCOUNTS: THE LEGAL DOG WAGS THE TAX TAIL?

Wednesday, July 29th, 2015

In past blogs, my fellow contributors have written extensively about the legal and tax implications of joint accounts created primarily to avoid probate fees, but often leading to unintended consequences without the appropriate planning. Recently the Canada Revenue Agency (“CRA”) was asked to comment on the tax implications of the disposition ...

Estate of a Deceased Taxpayer and the Principal Residence Exemption

Friday, July 10th, 2015

Mr. Joe lived in a house with his second wife, Mrs. Adele until his death several years ago. The house was transferred to his estate and according to the terms of the trust, Mrs. Adele was provided with the right to occupy the house as long as she desired. ...