All About Estates

Month: January 2020

Total 21 Posts

Death of a Non-Resident

Today’s blog was written by guest blogger, Kathryn Walker, Associate at Fasken LLP. If you are considering retirement and old age in a warmer climate, keep in mind that in escaping the cold you will not necessarily escape Canadian taxes on death since Canadian non-residents remain subject to Canadian income…

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Charitable Remainder Trusts in Canada

The Charitable Remainder Trust (CRT) is a gift planning structure that rarely works in Canada.  An import from the U.S. – where it is an integral part of the gift and estate tax regime – the CRT in Canada has fewer tax and planning benefits.  It’s a foreign plant that…

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Criminals Cannot Profit From Their Crimes – Or Can They?

Criminals cannot profit from their crimes – unless they are not criminally responsible.

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A note on Crypto Currency

Wikipedia defines cryptocurrency (or crypto currency) as a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central…

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Initial Issues Encountered When Dealing With a Possible Insolvent Estate

Today’s blog is written by guest bloggers, Krista Brown and Tracy Parkinson, law clerks in the Private Client Services group of Fasken LLP. As estate law professionals, when we hear the words “possibly insolvent estate” most of us immediately see a giant STOP sign. A named estate trustee in a…

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Why Plan For One When You Can Plan For Generations?

This blog was written by Alex Fournier The Trust industry has shifted its focus towards servicing the biggest market segment yet to be seen – the Baby Boomers. With the biggest intergenerational wealth transfer coming, it is the most logical course of action to undertake. In Canada alone, reports speculate that…

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The New Simplified Procedure Rule (Rule 76)

Since it was enacted in 1996, Rule 76 of the Ontario Rules of Civil Procedure has provided for a simplified procedure to streamline claims of relatively modest monetary value. The goal remains to reduce legal costs and speed up the administration of justice. The Government of Ontario made significant changes…

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TOSI and the Estate Plan

Since 2018, the tax on split income (TOSI) rules have impacted common estate planning practices. While much of the TOSI focus is on planning during one’s lifetime, post-mortem planning strategies have also been affected. It follows that a post-mortem planning strategy must now be considered in light of TOSI, as…

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Mild Cognitive Impairment Does Not = Normal Aging

Are there any other “This Is Us” fans who eagerly awaited episode 10 last week?  Spoiler alert for those who have not yet watched.  Yes, as we suspected, Rebecca was diagnosed with Mild Cognitive Impairment (MCI).   Her diagnosis  is a fitting introduction for today’s blog  as  January is Alzheimers’ Awareness…

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Paper vs. Electronic Filing of Estate Information Returns!

Today’s blog was written by guest bloggers, Tracy Parkinson and Krista Brown, law clerks in the Private Client Services group of Fasken LLP. It’s hard to believe that we have been filing Estate Information Returns (the “EIR”) with the Ministry of Finance (the “Ministry”) since January 1, 2015, but if…

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