Archive for the ‘Succession Planning’ Category

An Emotional Afternoon.

Friday, August 8th, 2014

I have been a practicing social worker for over 30 years. During this time I have tried to not "social work" my family. Not an easy feat especially over the last 10 years since starting Elder Caring and having aging parents. This past weekend I returned to my home ...

Trust Income and Working Income Tax Benefit Eligibility

Thursday, July 24th, 2014

Recently the Canada Revenue Agency (“CRA”) was asked whether income allocated by a communal organization and reported as self employment earnings for CPP eligibility on a trust income tax slip (T3 slip) is considered “working” income for the recipient to claim the Working Income Tax Benefit (“WITB”). CRA responded that the ...

Testamentary Custody

Monday, June 30th, 2014

I was recently asked how parents can ensure that the guardian of their choice takes custody of their minor child or children in the event that both parents die simultaneously. In Ontario, parents (or any other person with custody of the child) can nominate someone to assume custody of their ...