Archive for the ‘Wills’ Category

The Rush to Avoid the 21 Year Deemed Disposition Rule: a Word or Two of Advice

Thursday, December 18th, 2014

As a professional advisor over the years, I have learned to accept good advice as well if not more than giving it. Recently, Colleen Ma of Dunphy LLP wrote about how the rush to avoid the 21 year rule for discretionary family trusts can lead to real problems if not executed ...

Alcoholism Not Enough To Negate Testamentary Capacity: A Clinical Response

Thursday, December 11th, 2014

Diane Vieira’s blog (November 17, 2014) about a recent Saskatchewan court decision raises important issues and principles related to the determination of testamentary capacity.  The court found “that a history of alcoholism, short term memory loss and unusual behaviour was not enough to sustain a Will challenge”.  This decision only ...

Whose asset is it – the question of “title”?

Wednesday, December 10th, 2014

The Canada Revenue Agency (CRA) was recently asked for their comments with respect to a change in legal ownership of property for income tax purposes in a situation where a person held legal title to property and their former spouse had beneficial ownership as a result of the settlement rights ...