All About Estates

Month: December 2017

Total 14 Posts

The Senate Strikes Back?

The latest chapter in the ongoing saga of the federal government’s reforms to the taxation of private companies was released on December 13, 2017. On that date, the Minister of Finance released the draft legislation and explanatory notes for the revised version of the “income sprinkling” or “TOSI” (tax on…

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The SDA and Incapacity to Manage Personal Care – Additional Commentary on Limitations in Legislation

Pursuant to Section 45 of the Substitute Decisions Act (SDA),[i] incapacity for personal care is defined as – A person is incapable of personal care if the person is not able to understand information that is relevant to making a decision concerning his or her own health care, nutrition, shelter,…

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Powers of Attorney for Property: An In-Depth Review

My previous blog ended with the following sentence: “Where a power of attorney for property is effective upon execution, proper safeguards should be put in place to ensure the power of attorney is not inappropriately acted upon”. This blog will expand on the meaning of that sentence. Where a power…

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The Litigator’s Holiday Medley

It is that time of year again… “the Most Wonderful Time of the Year” as that well-loved refrain goes.  Lawyers and other professionals can get awfully serious about what they do when it comes to estate planning, litigation, and administration.  So in an attempt to offer some levity in this…

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Trust Allocations and Gifts to Family Members

A common estate planning technique is to structure a family trust which owns the shares of a small business corporation in such a way that allows each beneficiary (most commonly being members of the taxpayer’s immediate family – spouse and/or children) to participate in the sale or disposition of the…

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Holiday Jingle 2018

Where has the time gone?  Have you noticed that the older one gets the faster time is? I can’t believe  we are almost at the end of 2017. Upon reflection, it has been a whirlwind year. Thankfully my family and I experienced good health.  However I know this has not…

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Your Family Trust Has a Non-Resident Beneficiary

In today’s world of international families it is not uncommon for a Canadian family to have one or more members that are non-residents of Canada. When that same family has set up a Canadian discretionary family trust that is intended to benefit its members with, say distributions from a family…

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Tax-Free Canadian Gifts

This blog is written by Sally Lee, LLB, and Estate and Trust Consultant with Scotia Wealth Management. Publication 559 of the U.S. Internal Revenue Service states: The gift tax applies to lifetime transfers of property from one person (the donor) to another person (the donee). A gift is made if…

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Introducing Ziggy- A Caring Companion

I am sharing my good fortune in that I am proud to be a ‘puppy raiser’ for the Canadian National Institute for the Blind (CNIB).I am doing so in this blog because it relates directly to aging well and philanthropic opportunities. By way of background, CNIB is a national charitable…

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Sibling Rivalry Over Mother’s Competency

In 2009, Hermine Wekerle, mother of financier and Dragon’s Den star, Michael Wekerle, signed an unconditional power of attorney for property giving one of her three daughters, Caron, authority to be her substitute decision-maker. In 2016, acting under the power of attorney for property, Caron agreed to sell a little…

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