This Blog was written by: Anne McFarlane, Estate and Trust Consultant, Scotia Wealth Management I have always loved celebrating the New Year. On top of the fancy attire, sparkly decorations, and fizzy drinks, it’s a time of reflection and reinvention. To think back to what went well in the year…
Month: December 2020
Total 16 Posts
One of the duties of an estate trustee is to respond to litigation brought against the estate. The estate trustee is also the only person with the authority to start litigation on behalf of the estate. Because estates are not legal entities such as corporations, the party to the litigation…
Well-behaved children receive gifts from Santa, and poorly behaved ones just might receive a lump of coal. Does the law on dependant support work the same way?
Most know that you don’t have to be legally married to have a “spouse” for income tax purposes, although legal marriage will work. If you have been living with someone in a conjugal relationship for 12 months or more regardless of your sex at birth, you will be considered spouses…
I am sharing an article that I previously wrote, pre COVID. There are some things that are very different this year and large family dinners (in person) is currently a thing of past; however many of the tips listed are still very applicable when visiting (either in person or by…
In my blog Probate Points to Remember – A.K.A. Names and More – All About Estates of October 16, 2020, I shared from my list of “Probate Points to Remember”. I provided tips regarding how to name individuals, including the deceased, executors and beneficiaries, such as when using “also known…
Can you donate the residual interest of a principal residence to charity? Absolutely! The question, however, is not can it be done, but should it be done. In most cases, the answer is no – especially for the charity. Structuring Options Let me address the structuring options first. It is…
In the recent decision of Hertendy v. Gault, 2020 ONSC 7555, the Court considered a mother’s summary judgment motion to set aside the transfer of her property to her daughter for no consideration. Facts: On October 28, 2011, Marian Hertendy appointed her daughter, Beverly Ann Gault, as her attorney for…
This weekend, I put down the latest Brandon Sanderson book so that I could read ‘A Perfect Storm: The COVID-19 Experience for Revera and the Long Term Care Sector’ which is a report completed by an independent expert advisory panel. I have blogged about the Crisis In Long Term Care…
Alter ego trusts (“AET”s) and joint partner trusts (“JPT”s) have a deemed year end on the date of death of the last life interest beneficiary (the settlor for an AET and the last to die of the spouses for a JPT) resulting in the deemed disposition of certain property of…