All About Estates

Month: January 2019

Total 16 Posts

Conflicts of Interest – When Lawyers Will Be Removed (or not)

By the time a matter reaches trial, a client and her lawyer will have spent a significant amount of time together. A bond often develops over the course of the relationship, with the client trusting that her lawyer will put forward her position forcibly and knowledgeably. As a result, an…

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Spousal Rollover and Substituted Property

Suppose the will of a deceased taxpayer provides that certain assets are to be transferred to a spousal or common law partner trust.  Before doing so, and while property of the estate is being administered, certain property might change or be substituted by the Estate.  For example, shares might be…

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January is Alzheimers’ Awareness Month

Reposted @allaboutestates.ca January is Alzheimer’s Awareness Month. Like many of you, I think about Alzheimers quite often; not only the (not so) occasional memory lapses but for anyone who lives with dementia- closely impacting their own lives- the devastation it can bring. Do we need a special awareness month to…

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A Joint Tenancy Gone Awry

Many of my fellow bloggers have blogged about joint tenancies, whether the focus of those blogs was on a case where the facts involved a joint tenancy or was to simply advise of the issues and risks related thereto. (See Brittany Sud’s blog on January 19, 2018, Steven Frye’s blog…

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How to create a legacy

Lyndsay Green’s new book on legacy, The Well-Lived Life, sets itself an ambitious goal. Its subtitle is “Live with Purpose and be Remembered”. Mixing stories, philosophy and practical tips on estate planning and philanthropy this readable book makes a bold promise. Creating a legacy is hardly a new goal, and each…

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Sham(e) on You!

McGoey (Re), 2019 ONSC 80 (CanLII) is a fun case which reminds readers of the law surrounding sham trusts, but also demonstrates that the most convincing evidence can sometimes be found right on the (type)face of a document, the validity of which is in issue. In this motion, the trustee…

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Another Resolution for the New Year – Take Advantage of the Low Prescribed Rate

We have talked about income splitting arrangements available to individuals who wish to loan funds to his/her lower income spouse or adult child, or in the case of minor children, a discretionary family trust. Such loans would be used to invest in income producing properties such marketable securities, mutual funds,…

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Naturally Occurring Retirement Communities ( NORC)

Many of us have questions/concerns about where we will live, when we are no longer able to remain in our homes and this seems to be a topic discussed regularly. I am sure over the holidays there were many similar sounding conversations had with friends either talking about their parent(s)…

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How to Effectively use Trusts in Estate Planning for Blended Families

How to Effectively use Trusts in Estate Planning for Blended Families[1] You may recall I previously blogged about Common Pitfalls in Estate Planning for Blended Families. In this blog post, I will discuss considerations when using trusts in estate planning for blended families. Trusts are a useful tool in the…

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Time to Update Your General Power of Attorney for Property

This blog was written by Sally Lee, LLB – Estate and Trust Consultant with Scotia Wealth Management.  Some readers may ask the question, what’s the difference between a General Power of Attorney for Property (“GPOAP”) versus a Continuing or Enduring Power of Attorney for Property (“CPOAP”)?  To be completely honest,…

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