Archive for the ‘Joint Tenancy’ Category

Gifting and Incapacity – A Cautionary Tale

Friday, October 30th, 2015

Edward Foley was a dairy farmer.  In the last years of his life, he suffered two strokes.  Edward’s daughter, Dorothy, was his attorney for property.  After his second stroke, Dorothy managed her father’s banking and general finances for the rest of his life.  However, she did not manage his investment ...

Principal residence and co-ownership (continued)

Tuesday, October 20th, 2015

In my last blog on this topic I shared with you the comments of the Canada Revenue Agency (CRA) on an implied agreement between a couple regarding their ownership of a property. The CRA went on to comment on the tax implications of both an actual and a deemed ...