All About Estates

Category: Spouse

Total 27 Posts

Income Splitting Loans: What’s the Use?

We have blogged about income splitting arrangements available to individuals who wish to loan funds to his/her lower income spouse or adult child, or in the case of minor children, a discretionary family trust. Such loans would be used to invest in income producing properties such marketable securities, mutual funds,…

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A Gift is a Gift

We often write about the benefits (and some pitfalls) of gifting, before and after death. Personally, when I recommend gifting, I assume that unless there are specific outcomes required to realize on the gift, a gift is exactly that, a gift – something transferred voluntarily without expectation of getting it…

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Domestic Contracts After Death

Interesting things happen when family law and estates collide. Battles over domestic contracts and houses lead to discussions of past mistakes, life experience, and occupation rent. Such was the case in Psarros Estate v Cook. As with many estates litigation cases, the Court was asked to determine a broad range…

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SPOUSAL SUPPORT AND BEYOND?

I was traipsing thru some estate journals and articles recently and I stumbled upon the reporting of a recent matrimonial case which gave me pause, and to many practitioners in estate and matrimonial matters, I am sure. Practitioners have long held the view that entitlement to spousal support under most…

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Capacity Evaluation of an Expressed Choice

In law, expressed choices are not necessarily a reflection of capable decision making. For example, regarding testamentary capacity, the Ontario Court of Appeal in Hall v. Bennett Estate (2003)[i] stated in paragraphs 15 and 16 that it is not sufficient simply to show that a testator had the capacity to…

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Tidbits from the CRA

Earlier this week I had the pleasure of attending STEP Canada’s 19th National Conference, where I, along with over 700 other trust and estates professionals from across Canada, had the opportunity to hear from engaging and thought-provoking speakers on a diverse range of trust and estates topics. One of the…

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Separation and Divorce: Implications

In Ontario, there are significant implications when a couple (both common-law and married) separates and when a couple divorces. As more and more couples live in common-law relationships as well as the rate of divorce in this day and age, it is important to consider the following implications.  Separation –…

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Friends Helping Friends – Then Forgetting About It

When asking a friend for a financial favour, people often fail to document their actions and decisions as thoroughly as they should – the trust people have in their friends frequently translates into a belief that they do not need to pay attention. Regardless of whether the trust was deserved,…

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Personal Gains or Going Dutch

The term “predatory marriage” refers to a marriage entered into for the purpose of exploitation, personal gain or profit

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LATE FILED ELECTION TO SPLIT PENSION INCOME

While we are on the subject of joint elections to split pension income in the year of death: What if, as trustee of the estate, you discover that the deceased and his spouse did not split eligible pension income in the years prior to his year of death. Can you…

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