MROZ V. MROZ: A RECENT CASE FROM THE COURT OF APPEAL ON JOINT OWNERSHIP

Tuesday, March 31st, 2015

The week before last, the Ontario Court of Appeal released its decision in Mroz v. Mroz, 2015 ONCA 171, The case involved a terminally ill mother, Kay, who in 2004 transferred legal title to her home and sole significant asset into joint tenancy with her daughter, Helen. Contemporaneous with the transfer, ...

DECEASED RRSP TRANSFER TO SPOUSE: ESTATE TAX NOT AVOIDED ON A TECHNICALITY

Tuesday, March 24th, 2015

A couple of years ago, a fellow blogger wrote about the tax reporting and liability technicalities surrounding the transfer of RRSP’s on death to a spouse. As he wrote, the general rule is that upon death, the annuitant is deemed to have received the fair market value of the assets in ...

Mismatched taxes and assets received

Friday, March 13th, 2015

The proposed rules new rules for testamentary trusts scheduled to come into play in 2016 may present new problems for testamentary trusts and executors alike. In their current form, the taxes arising on the death of the second spouse from the deemed disposition of assets held in a spousal trust are ...