Pipeline planning and the dangers of subsection 84(2)

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In 1789, Benjamin Franklin, one of the founding fathers of the United States Constitution, provided the world with this great quote, “nothing is certain except death and taxes”. In 2021, John Oakey, the founding father of three Oakey children, is providing the world (or at least anyone reading this blog) with this great quote “nothing is certain with death and taxes”. Minimizing tax exposure The certainty of taxes upon death….

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Business Succession Planning, Estate Planning, Succession Planning, Tax Issues

Tips on Bringing a Passing of Accounts Application – Part 4

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Today’s blog will provide some points to consider when preparing or responding to a notice of objection to accounts (the “Notice of Objection”).  This is a continuation of my series of blogs related to bringing an application to pass accounts (the “Passing Application”).[1] How Does a Beneficiary Object? If a beneficiary wishes to object on a Passing Application, they need to prepare the prescribed Notice of Objection (Form 74.45).  It….

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Passing Of Trustees’ and Executors’ Accounts

YODO! – You Only Die Once

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This blog was written by Sierra Nunno While many young people cling to the acronym YOLO, which stands for ‘you only live once,’ the truth is YODO… you only die once. Ideally, upon death, our wishes are carried out according to plan and we rest peacefully. But what if there was no plan in the first place? The Covid-19 pandemic has forced young Canadians to confront an uncomfortable reality –….

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Estate Planning, Wills

300 Objections. 3 Week Hearing. $325,000 Costs Award.

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Those who practice in the world of estates know that emotions can run high. Estate planning and estate litigation involve relationships and, often, family. And relationships and family are complicated. It can sometimes be hard to be reasonable in the face of difficult emotions. But reasonableness should be a guiding principle for estate trustees and beneficiaries alike. If that warning is not heeded then parties to estate litigation must know….

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Costs, Estate Litigation, Executors, Passing Of Trustees’ and Executors’ Accounts

Applying for a trust account number?

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The Canada Revenue Agency (CRA) was recently asked to provide an update regarding the new online application process for a trust account number. In my capacity as an advisor, I ask clients to make tax payments if an only if there is an account number assigned to the taxpayer responsible for the payment. While individuals and corporations are assigned tax identifications numbers, trusts are not. Since February 2021, the CRA….

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Canada Revenue Agency, Executors, Tax Issues, Trusts

Another Goodbye

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I have written about my work with my long time elderly client, Audrey, for some time. Through these blogs, I have shared the loss of her sister, her prior discharge from palliative care,  her 100th (and 101) birthday, her most recent admission and discharge and today I want to share her passing with you. As I have said so many times before, she was one of the lucky ones; lucky….

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Caregiving, Elder Care
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