Archive for the ‘Guardianship’ Category

Marital status – has it changed?

Monday, April 20th, 2015

The Canada Revenue Agency (CRA) was recently asked whether a spouses' marital status should be reported as "separated" on their tax return where legally married couple is separated indefinitely for medical reasons. In this case a legally married couple no longer reside together because one spouse has advanced Alzheimer's and has ...

Guardianship Provisions

Friday, January 9th, 2015

For people with children under the age of 18, having an effective guardianship provision in one’s Will is essential. Although clients are generally aware of the need to include this provision, there’s often more to consider than might appear at first glance. Here are some significant and sometimes over-looked considerations ...

Beneficial ownership of a principal residence for tax purposes: A question of Law and Fact

Friday, November 14th, 2014

Let’s say, your parents place legal title of their house in your name for health reasons. However, your parents continue to reside in the house and pay all the household expenses. Then your mom passes away. Your dad continues to reside in the house until sometime later at which ...