Archive for the ‘Wills’ 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 ...

Facebook Injustice: Keep the Will Challenges in Court

Monday, July 13th, 2015

A Nova Scotia decision, The Director of Public Safety v. Lee provides a good reminder to be very careful when using social media to express one’s thoughts about the validity of a last will and testament. Angela Lee passed away at 64 after suffering from cancer. During her illness, she was ...

VALUATIONS AND REVERSING TAX REASSESSMENTS: Lessons learnt

Monday, June 22nd, 2015

I have been writing about valuations for estate plan agreements, highlighting that they should be based on fair and reasonable methods, prepared in good faith, properly supported and documented at the time of valuation. This approach to valuations should also apply to other estate planning and charitable giving arrangements. Take donations ...