All About Estates

Month: September 2018

Total 17 Posts

Closing the Gap: Using Annuities to Resolve the Wait for an Estate’s Residual Beneficiaries

Today’s guest blog is from Lea Koiv, BComm, CPA, CMA, CA, CFP, TEP at Lea Koiv and Associates and Alexandra Macqueen, CFP at Pension Acuity. Lea and Alexandra are strategic partners providing advice in areas including longevity planning and the use of annuities in client estate plans, and pension decisions…

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Is it Improper for Counsel to Assist an Expert Witness in the Preparation of the Expert’s Report?

Expert evidence constitutes an exception to the rule that witnesses may only testify as to facts, not opinions, and that it is the exclusive prerogative of the trier of fact to draw inferences from proven facts. The expert evidence exception operates where specialized knowledge is required to determine the implications…

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CRA Keeps A-Knockin’ (and Can Come In)

Estate trustees be warned: you may be held personally liable for failure to pay the estate’s taxes and/or the tax arrears of the deceased. When estate trustees are advised of this fact by their lawyers, pains are taken to soften the blow. CRA tends to be more blunt. Following the…

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PLANNING AND ESTATE PLANNING FOR THE DISPOSITION OF REAL ESTATE

I am in the middle of a very difficult Canada Revenue Agency audit of a taxpayer’s claim for the principal residence exemption. It now appears the property in question,  built by my client some 25 years ago may not qualify for the full exemption due to the fact that the…

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September 21 was World Alzheimer’s Awareness Day.

In my opinion, dementia is our greatest health crisis. It is a disease that is not based on culture, gender, ethnicity, or social economic background although there is some current research that there may be some modifiable factors. Alzheimers is the most common form of dementia and one that impacts…

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Qualifying Costs of Medical Assistance in Dying may be Eligible for the Medical Expense Tax Credit

I previously blogged about the Supreme Court of Canada decision in Carter v. Canada[1], which ruled that Canadians are entitled to obtain medical assistance to end their lives under appropriate circumstances (See Blog on Medical Assistance in Dying – Where Are We Now?). A question that stems from that ruling…

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The Importance of Being Original

This Blog was written by: Emily Racine   As we know, the statistics are less than ideal for the number of Canadians who have a will let alone a recently updated one. That being said, having a will is not enough – it is important to have the original will….

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A Roadblock for Multiple Wills

Today’s blog was written by Justin W. de Vries and Jacob Kaufman A will need not be probated. The power of an estate trustee derives from the will itself. However, in certain cases, a grant of probate (now awkwardly called a certificate of appointment of estate trustee with a will)…

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Living to 99 and Words of Wisdom

Last week, I had the pleasure of celebrating my oldest client’s birthday. She turned 99. We share the same name and she is often inspiration in my day to day work. She and her 94 year old sister live together, have never married and have no other family, other than…

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An Inconvenient Truth: Cross-border Estate Barriers for Non-Resident Executors

Today’s blog comes to you from Student-at-Law, Derrick Raphael. As a new resident of Canada there are several issues that an individual must consider such as tax implications while residing in the country as well as one’s previous jurisdiction. Additional areas of interest regard how to manage assets, property and other…

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