In an article written on January 10, 2023 by the Canadian Federation of Independent Business (CFIB),over $2 trillion in business assets could change hands within the next decade as over three-quarters (76 per cent) of small business owners are planning to exit their business. Unfortunately, as the article points out, only…
Congratulations Nick Taylor, our RBC Canadian champion! ~~~~~~~~~~~~~~~~~~~~~ The National Institute of Aging in 2020 indicated that 91% of older Canadians wanted to remain living in their own home. I frequently write and speak on this very important issue and today I will be participating in the National Seniors Council…
This week, I had a great opportunity to sit down with Andy Jeffery, Vice President, Family Office Advisory, at Northwood Family Office,[1] to discuss a question frequently raised by clients; “How much should I leave my children and when?” Below we distill our discussion into five questions, providing you with…
This Blog was written by: Alicia Mossington (Godin), Estate and Trust Consultant, Scotia Wealth Management Estate planners and administrators must consider a variety of factors when assisting clients. We often speak about tax planning, insurance, and considerations for different types of assets including jurisdiction. We speak about residency for tax…
The cy-près doctrine It is common practice to leave a gift to a charity in your will. However, the charity that the testator wished to support may not have been named properly in the will (leading to confusion about who was supposed to benefit from the funds), or may have…
The US Surgeon General made public health headlines in May, declaring that loneliness and social isolation carry the same critical health risks as smoking, obesity, and the opioid crisis. Isolation and loneliness are linked to declining mental health, such as higher rates of depression, anxiety, and suicidal thoughts. Physical health…
Today’s Blog Post was written by Gabrielle Arbic-Lloyd, Student-at-Law at Fasken LLP In February, the Ontario Court of Appeal ordered one spouse to pay the other more than one million dollars in costs in addition to spousal and child support. So what motivated the Court to order this spouse to…
This Blog was written by Emily Racine, Estate and Trust Consultant with Scotia Wealth Management Many of my estate planning conversations revolve around what I call the “hard topics” – such as, how do I save on taxes? Should I avoid probate? Do my children need a trust? However, one…