The Canada Revenue Agency (CRA) was asked to consider allowing more time to allow for the application of a common post-mortem planning rule in those situations where delays in the probate process have caused a delay in the timing of the disposition of the properties of an estate. The request concerns…
Category: Estate Planning
Total 722 Posts
Introduction Last year, I wrote a blog post about estate planning for tattoo artists, which focused primarily on the intellectual property rights of tattoo artists in their tattoo designs and the ways in which such rights conflict with the rights of the people who actually bear such designs on their…
The Dutch House, by Ann Patchett, is an excellent read. However, for those in the estate planning profession, it is also a reflection on what goes wrong when insufficient or no estate planning occurs.
Background – The Estate Freeze Transaction Fact Pattern In an estate freeze transaction involving one or more family corporations, certain common shares of such corporations are exchanged for fixed value preference shares that must be retractable and may be redeemable by the holder (“Preferred Shares”, as hereinafter further defined). The…
On March 16, 2020, the Superior Court of Ontario released its decision in Calmusky v Calmusky. In Calmusky, the Court applied the presumption of resulting trust to a RIF that was designated to a particular beneficiary. The beneficiary was unable to rebut the presumption, and the Court ordered that funds…
Another year, another lockdown. It was not my intention for my first blog of 2021 to concern COVID-19 but, alas, here we are. Although COVID-19 continues to impact our daily lives, new measures have been implemented by the Courts and by Legal Practices to allow us to continue to properly…
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…
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…
The 2020 U.S. election is over and the votes have been tabulated, and in some counties the votes have even been tabulated more than once. Unless there is some Republican wild card waiting to be plucked out of the proverbial magic hat, then Joe Biden will be inaugurated president of…
Today’s blog was written by guest blogger, Yvonne Mazurak, Articling Student at Fasken LLP. With today being Black Friday, it seemed appropriate to write a post about things. Afterall, many of us will likely spend some time this weekend taking advantage of Black Friday deals and buying things for our…