All About Estates

Month: March 2011

Total 23 Posts

Capital Gain Exemption on the Terminal T1 Return

Some fancy footwork may be required to get one last shot at using the remaining capital gains exemption where the deceased’s intention is to transfer his or her assets to a spouse.

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Will Planning – no simple task…

The task of writing a Will and planning for the disposition of one’s assets after you’ve departed our lovely earth has often been inappropriately considered by some to be a “simple” task.

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The budget and our current state of affairs- how are we doing?

The proposed budget includes some gains for the older voter. As more of us are getting older and with the decline of the growth rate, who will be looking after us? 90% of seniors live in the community; most having care provided by an unpaid family caregiver.

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Presumption of Capacity and Duty of a Solicitor

A person who is over the age of 18 is presumed to be capable of entering into a contract, and the rest of the world is entitled to rely upon this presumption unless they have reasonable grounds to believe otherwise. However, the court in England was recently asked the question of whether a solicitor dealing with an elderly person had “no reasonable grounds to suspect incapacity”; to prove the negative and to set a standard with respect to the issue of contemporaneous notes.

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Friendship is like money, easier made than kept

Paul Penna, millionare and founder of Agnico-Eagle Gold Mines Ltd., had a good Estate plan but he made one critical mistake.

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Did the deceased suffer from a severe and prolonged impairment? If so, there may some tax relief for the estate in the form of a Disability Tax Credit.

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Advocacy is Almost as Important as Having a Doctor.

The media has been full of stories about people in Canada in conflict with their provinces’ health bureaucracies. For a long time we have heard about challenges in the health system. But where does advocacy fit in? When in the hospital, a family member’s care may depend on advocacy and attention. Anecdotally, those who are in the hospital and have family member’s asking questions about their care, seem to do better.

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