In my previous blog, Estate planning and TOSI Part I, I introduced the concept of the tax on split income (TOSI) continuity rules which are extremely important when estate planning. The objective of the continuity rules is to afford the beneficiary, who would not have an excluded amount of their…
Month: October 2020
Total 17 Posts
I would like to thank the estates law clerks in the Private Client Services group of Fasken for their contributions to this blog. This week, Attorney General Doug Downey (perhaps in the spirit of Thanksgiving) hinted at upcoming changes in the area of estates that would “manage the estate process…
Thanksgiving 2020 is a time for gratitude and togetherness. It’s a time for us to reflect on the craziness of these past 8 months and to appreciate the things that we have. For others, it’s a time to gather your family around and tell them all the ways they have…
Each province in Canada establishes its own rules regarding the distribution of property where a person dies without a will. In Ontario, intestate succession is governed by Part II of the Succession Law Reform Act (the “SLRA”). Inheritance on intestacy is limited to married spouses and blood relations. If a…
National Seniors Day was celebrated on October 1, 2020. I am not sure ‘celebrated’ is the right word. Most of us don’t feel like celebrating these days and should we be so inclined- we are significantly restricted. My wonderful client turned 101 in September and the only celebrants was the…
I recently had a discussion about pour over clauses which sparked my curiosity! After some research I considered in what estate planning context this tool might be used and, as with everything, the pros and cons. In the United States, where pour over clauses appear to be used more commonly,…
This Blog was written by: Alicia Godin, Estate and Trust Consultant, Scotia Wealth Management If you are frequent visitor to All About Estates, you can likely appreciate the importance of a well-prepared estate plan. The cornerstone of the estate plan is the Last Will and Testament. Many contributors to this…