The answer to this question depends on (i) the legal requirements regarding the formalities for making a Will and, (ii) when those requirements are not met, whether the court with jurisdiction over the Will is able to follow the doctrine of “substantial compliance”. In Ontario, in order for a Will…
Month: July 2014
Total 18 Posts
There is a growing industry that provides relocation assistance to older adults and their families. A lot of seniors are turning to professionals to make informed decisions to avoid the costly mistakes and remorse that can accompany major lifestyle transitions. The guidance that is available covers such things as whether…
One of the best ways for a litigator to learn is to sit in open court watching other litigators suffer through embarrassing court room experiences. In one of my early days appearing on the Estates List, I had one such experience, and the litigator’s lesson that day centred on the…
The rock star Sting recently announced that his six children will not receive his US$300 million estate. Although he was a bit vague about the ultimate destination he intimated it would be charity. We’ve seen versions of this story before. In the tradition of Warren Buffett — “I want to…
The Canada Revenue Agency was asked in a technical interpretation whether changes may be made to a loss application after the end of the normal reassessment period where a nil assessment was issued. The Agency’s response gives hope to executor’s with an interest in making adjustments to the prior year…
As a lawyer whose area of expertise is estate planning I am often asked about “simple” strategies to avoid or reduce the amount of probate taxes that may be payable on an individual’s death. (Probate is the process to confirm the validity of an individual’s Will. It is not always…
Last week I had the pleasure of presenting as part of a panel at an Estate Planning Workshop organized by Mr. Christian Steinbock from Dominion Securities. I was joined by Ms. Indra Bharat, Financial Planning Consultant with RBC and Mr. Ismail Barmania, Estates and Trust lawyer at Barmania-Lawyers. It was…
Do you wonder why many seniors are reluctant to discuss estate planning with their children? There is the obvious awkwardness of talking about death but also the potential for financial vulnerability. A recent Ipsos Reid survey, commissioned by HomEquity Bank, says 35 per cent of Canadians are “waiting” for money…