Earlier this week I attended the 19th annual National Conference of the Society of Trust & Estate Practitioners (“STEP”). I must congratulate Michael Dodick, Janis Armstrong and their whole team for putting on another very successful conference. The success of the conference is easily measurable, there were 720 attendees, making…
Month: June 2017
Total 21 Posts
You may be forgiven for thinking that the expression “clear as mud” was created specifically to describe limitation periods. The policy rationale behind limitation periods is to create certainty and predictability by establishing a firm deadline by which a claim must be brought or else the claim is lost forever….
The Canada Revenue Agency (CRA) was reminded by a taxpayer individual about a perceived lack of fairness when required to include the dividends received at a grossed-up amount when calculating net income rather than only including the actual amount of dividends received. The taxpayer felt this was unfair because net…
It is hard enough when a loved one forgets; but it is also very painful when family forget …. about who the older person is and who they were. Many times older people are seen as just that old folks- who may be wrinkled, forgetful, stooped over and hard of…
Continuing my discussion of the All Families Are Equal Act (Parentage and Related Registrations Statute Law Amendment), 2016, S.O. 2016, c. 23, in this blog I will look at the new rules for determining the relationship of parent and child in Part I of the Children’s Law Reform Act (“CLRA”),…
What’s a charity to do when a donor asks for a gift to be returned? As my fellow blogger Derek de Gannes recently reported, CRA provided a technical interpretation in response to a charity inquiry relating to life insurance policy donated in 1981. The gift was intended for a discontinued…
A last will and testament can often provide insight into a person’s final fortunes, thoughts, and wishes, right down to who should receive his or her hair strands. For today’s blog, I decided to research fascinating (and sometimes questionable) provisions in last wills and testaments. I share with you some…
When developing estate plans for clients with property of a capital nature (real estate, marketable securities being a couple of examples), one of the questions I get asked more often than not is: How can I avoid probate? Can I just put someone else’s name on a document so it…
You may already be familiar with the terms. It refers to older individuals who do not have any family to provide care for them. They have either outlived their family or are estranged from them. With our aging demographics we are working with many single women who do not have…
The CRA was recently asked to consider whether subsection 118.1(5.1) of the Income Tax Act would apply to a gift made to a qualified donee of a capital interest in a testamentary charitable residual trust. Subsection 118.1(5.1), if applicable to charitable gift, allows the tax credit in respect of the…