All About Estates

Powers of Appointment vs. Trusts – Failure to distinguish between them in Wills

This Blog was written by: David McPhee, Estate and Trust Consultant, Scotia Wealth Management  When the term “power of appointment” comes to mind, one often thinks of the provision in a will or inter vivos trust  deed which  creates a trust for a beneficiary for his or her lifetime, and…

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Whose Claim Is It Anyway?

In the recent decision of Goldentuler v. Simmons Da Silva LLP, 2021 ONCA 2019, the Court of Appeal for Ontario considered whether an individual had capacity to commence a lawsuit in which the cause of action belonged to an estate. Facts The late Henry Goldentuler (“Henry”) was a lawyer in…

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Disability Tax Credit

The 2021 Federal Budget included proposals that would see an expansion of the Disability Tax Credit to more Canadians. The Disability Tax Credit (DTC), with a value of $1,299 for 2021, is a non-refundable credit intended to offset the impact of disability-related costs. In order to claim this credit, a…

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Getting Lost In The System

And I don’t mean figuratively, I mean literally.  I heard two stories this past week of two elderly individuals who are both quite compromised with dementia.  One lives in a retirement residence and the other lives in her own home with care support. In both instances, they had a fall…

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Bill 245 and Changes to the Succession Law Reform Act

On February 5, 2021, I wrote a blog on Section 16(b) of the Succession Law Reform Act. Now, almost three months later, Ontario’s Bill 245 has received royal assent. Among many other changes to various pieces of legislation, Bill 245 revokes section 16 of the Succession Law Reform Act (the…

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Suggestions to Reduce the Potential for Elder Financial Abuse

I suggest that improved screening for vulnerability to abuse is clearly needed for seniors appointing family members as attorneys for property.

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Bill C-208 the race to the finish line

Bill C-208 (Bill), “an Act to amend the Income Tax Act (transfer of small business or family farm or fishing corporation)” is a private member’s bill introduced by Conservative MP, Larry Maguire[1] on February 19, 2020.  The purpose of this Bill is to allow share capital restructurings and inter-generational transfers within…

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Federal 2021 Budget Highlights For Canadian Seniors

Federal Budget 2021 Highlights summarized by National Institute on Ageing: Today’s blog will highlight important 2021 budget information as it relates to Seniors.  I have used  the NIA COMMENTARY ON THE 2021 FEDERAL BUDGET[1]  as they have said better that I. 1.       Delivering an Apology to Canada’s Seniors …

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Selected Tax Measures in the 2021 Federal Budget – Canada

In a historic moment in Canadian history, Canada’s first female Minister of Finance (and Deputy Prime Minister), the Honourable Chrystia Freeland, presented the Government of Canada’s 2021 Federal Budget (“Budget 2021”) on April 19, 2021.  Budget 2021 contains significant proposals to amend the Income Tax Act (Canada) (the “ITA”), the…

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A Royal Estate

This Blog was written by: Alicia Mossington (Godin), Estate and Trust Consultant, Scotia Wealth Management  Prince Philip, Duke of Edinburgh was born on June 10th, 1921 and passed away on April 9th 2021, at the age of 99. The Duke was born Prince Philip of Greece and Denmark but abandoned these…

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