All About Estates

INCOME RECEIVED AFTER DEATH

Recently, the Canada Revenue Agency released a technical interpretation to clarify the commentary in the T4001 Employer’s Guide – Payroll deductions and Remittances, and the T4011 guide, Preparing Returns for Deceased Persons, in respect of income payable at death but not actually paid until the subsequent year. The CRA confirmed…

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Elder Abuse: When The Numbers Don’t Add Up.

June 15 is World Elder Abuse Awareness Day. I continue to be saddened by the many different ways that elders can be taken advantage of.   Financial abuse is one of the types identified, included with physical and emotional abuse as well as with neglect. There are some telltale signs that…

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“Pour Over” Clauses Revisited

You may recall I wrote a blog post last year on the Supreme Court of British Columbia decision, Quinn Estate, 2018 BCSC 365, which rendered the “pour over” clause in the late Pat Quinn’s (“Pat”) Will invalid. The basis for this decision was twofold:

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The STEP Annual Conference

This blog was written by Teresa Acs – Director, Professional Development & Process Excellence I had the pleasure of participating at last week’s Society of Estate and Trust Practitioners (STEP) Canada Conference. Each year, the conference attendance surpasses the year before, speaking to both the quality and importance of this…

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Testamentary Freedom – A Fundamental Right?

Whether testamentary autonomy is a constitutionally protected right has not been considered by the courts … until now.

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Summer is Around the Corner…….

Many of us like to take summer holidays and for caregivers, this brings some extra things to consider. Should you decide to vacation with your older parent, there are some pre planning tips that can make this journey more enjoyable for both of you. Firstly, know what type of holiday…

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Estate Planning and Family Law: The Matrimonial Home Part II

In a prior blog, I began a discussion of the use of marriage contracts as part of an integrated estate plan to preserve and protect family wealth. In particular, that blog began a discussion of the legal regime that governs a “matrimonial home” under the Ontario Family Law Act (“FLA”),…

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4x $100 million+

  In 11 weeks between March 25 and June 3, 2019 three $100 million dollar charitable donations were announced in Ontario. On February 13th, McGill University in Montreal announced a $200 million donation. These are enormous sums, and this unprecedented donation cluster is just the beginning of bigger things to…

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The French Elvis and Instagram

People readily post about their lives on social media, including where they travel to or where they eat (sometimes on a daily basis).  Celebrities, for example, use social media platforms (such as Instagram and Twitter) to connect with their fans and keep them posted of the fabulous lives of the…

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FAMILY TRUSTS AND ALLOCATIONS OF PROCEEDS FROM SALE

Recently, I encountered a scenario where the trustees of a family trust were planning an allocation of proceeds from a share sale transaction to the beneficiaries of trust using the lifetime capital gains exemption but it appeared that the allocated amounts would physically end up in the hands of other…

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