DEEMED TRUST: TAX DEBTS AND PROCEEDS OF INSURANCE

• • 0 Comments

In Canada (A.G.) v Nortip Development 2019 NLCA 34, a company fell behind in remitting payroll withholdings and related amounts for several periods over a two-year period to the Canada Revenue Agency (“CRA”). Around the same time, a property with a mortgage owned by the same company, was destroyed by fire. A portion of proceeds of insurance on that property (equal to the amount owed to the CRA) were claimed….

DEEMED TRUST: TAX DEBTS AND PROCEEDS OF INSURANCE Continue Reading »

Canada Revenue Agency, Property, Real Estate, Small Business, Tax Issues, Trusts, Uncategorized

Back to School and Young Carers

• • 0 Comments

Starting our second week after Labour Day, means our children are getting back into their routines.  For some it is school sports, hanging with friends or extra school activities but for many, it might mean a shift in their caregiving duties and less time for themselves. It is therefore fitting at this time of year, to highlight the role that young caregivers have in providing care to another person. Since….

Back to School and Young Carers Continue Reading »

Caregiving

As (More and More) Time Goes By…

• • 0 Comments

It’s that time of year when we are once again reminded of how quickly time flies.  The start of school signals the end of yet another summer.  And it doesn’t just signal the onset of shorter days and colder weather, but it also reminds us that soon we will be celebrating the start of a new year.  With that often comes the realization that many of those items on our….

As (More and More) Time Goes By… Continue Reading »

Estate Planning

The $100 Million Executor Fee: Unexpected but not Unreasonable

• • 0 Comments

This blog was written by Paula Lester – Estate and Trust Consultant with Scotia Wealth Management When the four executors of Leona Helmsley’s $5 billion estate asked for payment of $100 million for their services, it was touted as being astronomical by the challenging Attorney General. Still, Manhattan Surrogate’s Court Judge Nora Anderson recently ruled to allow the fees, which, although admittedly enormous, were considered justified based on the complexity….

The $100 Million Executor Fee: Unexpected but not Unreasonable Continue Reading »

Compensation, Estate Administration, Executors, In the News, United States

Fraudulent Conveyances and Your Estate

• • 0 Comments

It is well known that Ontario testators enjoy the freedom to distribute their estates as they wish (provided their statutory obligations are met); however, the recent case of RBC v. Scarborough, 2019 ONSC 3369, reminds readers to be cognizant of the impact of debts and liabilities upon those who may stand to benefit from an estate, as well as the ramifications of taking steps to deal with one’s estate in….

Fraudulent Conveyances and Your Estate Continue Reading »

Estate Administration, Estate Litigation, Estate Planning, Executors, Joint Tenancy, Loans, Wills

The Weight of (Sudden) Wealth

• • 0 Comments

I recently read an article written by Thomas Junkin, David Cieslowski and Vincent Tonietto, all with Fiduciary Trust Canada and published in their Summer 2019 issue of Perspective.  The topic was entitled “Stickhandling Sudden Wealth”.  In it, the authors discuss the unique investment and estate planning challenges facing younger clients who are suddenly wealthy. While the  context of their discussion is professional hockey players, their messages resonate equally with other….

The Weight of (Sudden) Wealth Continue Reading »

Uncategorized
Scroll to Top