August 2021

The Hot Housing Market and Important Planning Considerations

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House prices across Ontario have seen incredible growth over the past 18 months, in part because of changing work and living arrangements as a result of the pandemic. As described in a recent Toronto Star article, the average house price in the GTA as of July 2021 was $1,062,256, a 12.6% increase from a year prior. For many young adults, the only way to enter the housing market is with….

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Estate Planning

#FreeBritney: Toxic, Conservatorships, and Guardianship Abuse

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This blog was written by Raluca Gondor You may know Britney Spears for her hit songs like Piece of Me, Toxic, and Criminal. But lurking behind a wildly successful career is a darker aspect of her life, one that may be foreshadowed by her song titles: Britney Spears’ conservatorship. Since February 2008, Britney Spears has been under a probate conservatorship which restricts her ability to manage her estimated $60M estate….

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Capacity Law, Courts, In the News

AMENDING TAX ELECTIONS AFTER THE FACT

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The rollover provisions of the Income Tax Act, under subsection 85, permit a taxpayer to elect to transfer “eligible property” to a taxable Canadian corporation in exchange for consideration that includes at least one share of the corporation. “Eligible property” includes most capital property, Canadian or foreign resource property, eligible capital property and inventory, other than inventory that is real property. Where the taxpayer and the corporation agree upon an….

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Canada Revenue Agency, Estate Planning, Investments, Small Business, Tax Issues, Trusts, Uncategorized

Dementia: Therapeutic Fibbing OR Going With the Flow?

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This past week I had an interesting discussion with some of my team members (registered social workers and occupational therapists ) on whether or not it is appropriate to tell a white lie with individuals living with a dementia.  “Therapeutic fibbing is a controversial yet very effective method of dealing with the anxiety experienced by many people with Alzheimer’s and other dementias. In essence, it is telling a “fib” in….

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Caregiving

How Does Private Adoption Work?

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In my blog post of June 11, 2021, I wrote about Estate Planning and Adoption. I had many positive responses to that post from the estates community, so I thought I would write in more detail about the process. In Ontario, potential adopters can take three paths towards adoption: private domestic adoption through Ministry approved licencees or adoption agencies; private international adoption; or public adoption (through the Children’s Aid Society)…..

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Uncategorized

The Question of Executor: Who, What, When, Where and Why?

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This blog was written by Maggie Dalke – Estate and Trust Consultant with Scotia Wealth Management Estate planning can be very complex and there is always a lot of detail to cover with our clients. We look at how to achieve a tax efficient estate, address estate liquidity, beneficiary designations, family dynamics, cross-border considerations and how estate law intersects with other areas of law such as family law, corporate law….

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Estate Planning, Executors, Wills
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