What happens if a deceased’s will is lost? What if it has been destroyed?
Estate trustees – an individual (or individuals) appointed to administer a deceased’s estate – may find themselves unable to locate the original copy of the deceased’s Will. Perhaps the Will has been misplaced, or destroyed. What is to be done in these situations? Luc…View the post titled What happens if a deceased’s will is lost? What if it has been destroyed?
Whittling Down Our Testamentary Freedom
Testamentary freedom – the principle that a person of sound mind is free to leave his or her estate to whomever they like, for whatever reason, and without explanation– is a deeply entrenched notion in Canadian common law and society. However, as those of us in the estates and trust field kn…View the post titled Whittling Down Our Testamentary Freedom
Removing a Court-Appointed Guardian in Ontario
Previous articles have discussed powers of attorney and guardianships and the duties and obligations of attorneys and guardians. But what can be done when a family member of the incapable person feels that the guardian or attorney is not acting appropriately? Occasionally, supportive friends…View the post titled Removing a Court-Appointed Guardian in Ontario
The Consent and Capacity Board Cannot Appoint a Guardian of Property
A recent article in the London Free Press discussed the difficulty a local woman is experiencing in attempting to deposit a settlement cheque issued on behalf of her incapable brother. The article refers to a process whereby the individual would not have to become her brother’s official guar…View the post titled The Consent and Capacity Board Cannot Appoint a Guardian of Property
US Estate and Gift Tax: Part I – an introduction
Canada has not had estate and gift taxes since their repeal in 1972.[i] It will be a surprise for many Canadians that they could still be subject estate and gift taxes under US tax law. Canadian residents who are not US citizens can be subject to tax on assets owned in the United States including...View the post titled US Estate and Gift Tax: Part I – an introduction
RDSPs: working with Henson Trusts
Prior to the introduction of the Registered Disability Savings Plan (RDSP) in 2008, the most prudent financial planning tool for parents with a child suffering from prolonged and severe disabilities was the Henson trust. RDSPs have not made the Henson trust obsolete; it can be used jointly w…View the post titled RDSPs: working with Henson Trusts
Guardianship Applications and the Substitute Decisions Act
Usually, a power of attorney document will be used when a person becomes incapable. However, if that person did not have a power of attorney for property or personal care before they became incapable, a decision maker may have to be appointed by the court under the Substitute Decisions Act. …View the post titled Guardianship Applications and the Substitute Decisions Act
Capacity and Powers of Attorney
When we speak about “capacity” in the legal sense, we are considering whether a person can make a decision in a certain set of circumstances and understand the consequences of making, or not making, the decision. The decision maker does not necessarily need to make the “best” or the “right” …View the post titled Capacity and Powers of Attorney
Proposed legislation will end preferential tax treatment for Testamentary trusts by 1 January 2016
In October 2014, the Federal Government tabled a Notice of Ways and Means Motion to implement changes to the Income Tax Act (‘ITA’) proposed in the 2014 Federal Budget. The government first disclosed its concern about perceived abuses of the tax treatment of testamentary trusts in the 2013 F…View the post titled Proposed legislation will end preferential tax treatment for Testamentary trusts by 1 January 2016
The Disability Tax Credit – Do You Qualify
In light of recent changes to the tax treatment of testamentary trusts, it is important for those planning for the future care of individuals with disabilities to understand the rules for Disability Tax Credit eligibility. Due to these taxation changes, only Qualifying Disability Trusts will…View the post titled The Disability Tax Credit – Do You Qualify
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