How long is perpetuity?

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  [caption id="attachment_16267" align="aligncenter" width="700"] Basilica of Maxentius and Constantine, Rome   Credit: David’s Been Here[/caption]   “Is perpetuity 21 years?”, asked a charity colleague.  “Well, no, it’s forever.  Or until the end of time, or as long as we collectively exist,” I answered. Despite my emphatic response, the question is a good one because it underscores the inherent meaninglessness of the phrase “in perpetuity” in relation to charitable donations, trusts….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving

Estate Trustees and Irreconcilable Conflicts

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In the recent decision of Lagrandeur Estate (Re), the Court considered when an estate trustee can be ‘passed over’ due to a conflict of interest. Facts Keisha Lagrandeur (“Keisha”) died on December 6, 2019, aged 41. Keisha had two boys aged 19 and 17 with her married spouse Gaetan Lagrandeur (“Gaetan”). At the time of Keisha’s death, she and Gaetan had been separated for five years, but their divorce had….

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Uncategorized

Tax planning in uncertain times

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Tax planning can be very complicated with an Income Tax Act (“Act”) consisting of over 1.1 million words. This is a far cry from the original 4,000 words of the Act’s predecessor, Income War Tax Act[1], which was originally enacted as a temporary measure in 1917. The more than 3,000 pages contained in the Act is the legislation that governs our Canadian income tax system that is supplemented by precedent….

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Canada Revenue Agency, Estate Planning, Practice Management, Tax Issues

Having An Advocate: Critical So Your Wishes Can Be Respected

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Readers of this blog may remember  that I have been working with a wonderful woman who is now 101 years of age.  She is a ‘solo senior or elder orphan’ or simply put, a single woman who never married, never had children and at 101 years of age, has outlived all family and friends.    She is remarkable- she does not take any medications and has always followed a simple yet….

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Caregiving

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
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