Archive for the ‘Joint Tenancy’ Category

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. ...

Reaffirming Intentions when drafting a Will

Wednesday, June 17th, 2015

Those of us involved in estates generally, and certainly those in estate litigation, know that ultimately what we do is record a person’s intention.  A person’s intention is what is most important when talking about their estate and the transfer of wealth. We hear it again and again with respect ...