All About Estates

Category: Uncategorized

Total 373 Posts

Reflections before the Budget

On April 19th, the federal government will table its first budget in two years. This budget comes in the middle of Canada’s third wave of COVID-19 and is set to address the pandemic’s resulting economic challenges. Practitioners can likely expect, if they are not receiving them already, calls from clients…

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Inheritance and Tax

There is renewed discussion on whether Canada will become another jurisdiction where specific gift or estate taxes will be imposed on inheritances. There is speculation that the discussion will lead to something concrete as early as next week’s Federal Budget. In the meantime, there are situations where inheritances can come…

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Tax returns for deceased persons

The Canada Revenue Agency (CRA) will occasionally post requests to help improve the Agency’s processing efficiency. Recent posts caught my attention given their application to returns for deceased individuals. Date of Death The CRA noticed that tax preparers occasionally include a deceased person’s date of death on the living spouse’s…

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March is Fraud Prevention Month

This Blog was written by Kimberley Ling, Scotia Wealth Management This past weekend I watched the movie ‘I Care a Lot’– very timely and relevant as March is Fraud Prevention month. In this fictional movie, the main character runs a disturbing guardianship business that preys on wealthy seniors, taking control…

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“BUY THE SHOES”

Congratulations to all of us- it is the first week of spring and we have managed through a difficult winter.  While we are here today and reading this blog- we have much to be thankful for. However there are so many of us who have faced a loss this year…

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One in Ten: Why Bequest Donors Don’t Inform Charities

One in ten.  That, according to charitable sector studies, is how many estate donors inform the charities in their will of their intentions.  While this ratio varies by charity it underscores a fascinating paradox.  Bequest donors trust charities enough to make them beneficiaries of their estate, but they don’t trust…

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Lifetime Benefit Trusts

A lifetime benefit trust (LBT) is a personal, testamentary trust for beneficiaries that are financially dependent due to mental infirmity. Most people are aware that the taxable income inclusion of a RRSP on death can be avoided by rolling it over to a spouse. If the circumstances are appropriate, the…

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Significant Changes to Estate Rules May Come!

Today’s blog is being brought to you by our guest bloggers, David Rosenbaum and Anna Chen   On February 16, 2021, Bill 245 Accelerating Access to Justice Act, 2021 (“Bill 245”) was introduced by the Ontario legislature.  Bill 245 passed Second Reading on March 2, 2021.[1] If passed, Schedules 8…

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Power of Attorney for Property: The other sign of the coin

This Blog was written by Suzanna Walter, Estate and Trust Consultant with Scotia Wealth Management In my previous blog, Road Testing your Incapacity Plan, I reviewed incapacity planning from the point of view of the Grantor (the person appointing the attorney) in the Continuing Power of Attorney for Property (CPA)….

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What March 8th Means To Me

“I am woman, hear me roar In numbers too big to ignore And I know too much to go back an’ pretend ‘Cause I’ve heard it all before” – Helen Reddy 1971 As the ‘regular’ Monday blogger, I am very pleased to have an opportunity to connect with you today….

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