What does ‘ALOHA’ mean to you? In the caring world- or at least in the Hollywood-type caring world, and in the movie “The Fundamentals of Caring” the acronym stands for: Ask, Listen, Observe, Help, Ask Again. Caregiving is so much more.
Trusts are tricky – they can arise in circumstances where none of the parties involved ever use the word “trust.” There is good reason for this; often the settlor of the trust and the trustee are laypeople who can describe the type of relationship they wish to create, but are…
We know that if a property qualifies as a principal residence, an exemption can be claimed to reduce or eliminate any capital gain otherwise realized on the disposition of the property. Under the Income Tax Act, one of the requirements for a property to qualify as a taxpayer’s principal residence…
As a philanthropic advisor, I constantly discuss legacy with clients. Beyond a gift by will, a legacy transmits values, acts, and funds in a way that makes the world a bit better place. Quite unexpectedly, I recently found out my great-great grandfather, George Uglow Pope, left what I can only…
These virtual accounts are all “property” that an individual can own at the time they pass away. Unfortunately, because they are usually unknown to anyone but the owner and because they are otherwise not tangible, with little in the way of any form of physical record of their existence, they can also be lost to the virtual world unless the owner takes appropriate steps prior to his or her death.
Hospitals may not be good places for sick people but where are they to go? One of the most distressing types of calls we receive are from families who have been told by the hospital that their loved one will be discharged…..tomorrow.
One way for a party to set aside a trust agreement is by arguing that the settlor of a trust made a mistake about the trust. The concept, often found in contract law, is known as non est factum (note that a trust deed can be seen as a contract). The doctrine applies where…
The Canada Revenue Agency (CRA) recently ruled in respect of a post-mortem “pipeline” transaction involving a private corporation whereby the children of that last-to-die parent received valuable shares of a private corporation where the deceased had reported a deemed disposition gain on their final income tax return.
This year’s STEP conference featured over 65 speakers including for the very first time, the IRS spoke on Canadian soil about offshore compliance options including OVDP and streamlined compliance procedures.
