Separation Agreements, Support Obligations, and Summary Judgment

• • 0 Comments

Separation agreements commonly include a requirement that one of the spouses maintains a life insurance policy in favour of the other in order to “secure” support payments (either child support or spousal support). It is equally as common to find out, on the death of the supposedly insured spouse, that she let the insurance policy lapsed, changed the designated beneficiary, or reduced the amount of the policy. What happens next?….

Separation Agreements, Support Obligations, and Summary Judgment Continue Reading »

Contracts, Dependant Support, Estate Litigation, Family Conflict, Separation, Spouse

Changes to a Trust Agreement

• • 0 Comments

The Canada Revenue Agency recently responded to a ruling request as to whether or not a proposed amendment to a trust agreement could be so significant to cause a resettlement of the trust, or a disposition of a beneficiary’s interest in the trust Before the enactment of variation of trusts legislation, trustees were generally bound to administer the trust according to its terms.  Unless specifically allowed in the trust deed,….

Changes to a Trust Agreement Continue Reading »

Canada Revenue Agency, Estate Administration, Executors, Tax Issues

A Stroke of Bad Luck

• • 0 Comments

If a tree falls in the forest and no one is around to hear it, does it make a sound? Similarly, if someone has a silent stroke and there are not obvious physical symptoms, is it still considered a stroke.  YES it is and it can cause permanent brain damage. A silent stroke or mini stroke is a stroke that occurs without the common symptoms of an ‘overt’ stroke.  We….

A Stroke of Bad Luck Continue Reading »

Elder Care

Draft Legislation Released for Changes to Registered Disability Savings Plans

• • 0 Comments

In the 2019 federal budget, the government announced changes to the rules in the Income Tax Act (“ITA”) that govern registered disability savings plans, or RDSP’s (also referred to in this blog as a “plan”). On July 30, 2019, the Minister of Finance released the draft legislation and explanatory notes for those changes. Under the existing rules, the beneficiary of an RDSP must qualify for the disability tax credit (“DTC”)….

Draft Legislation Released for Changes to Registered Disability Savings Plans Continue Reading »

Uncategorized

Uncovering the Reasons Behind Planning Choices

• • 0 Comments

This blog was written by Justin Ecclestone, Associate Estate and Trust Consultant with Scotia Wealth Management In this blog post I wanted to share an experience I had with a client. In my role, I meet with people from all walks of life. I’ve met with business owners, retired professionals, working professionals, widows and widowers as well as those who have received the majority of their wealth through inheritance. It….

Uncovering the Reasons Behind Planning Choices Continue Reading »

Uncategorized

Trusts and Trust Resettlements – Variations and Circumstances

• • 0 Comments

Variation(s) of a trust agreement, after it is settled, does carry the risk of causing a resettlement of a trust or a disposition of a beneficiary’s interest in the trust, with serious tax consequences. But not all variations lead to resettlement, fortunately. Recently in an advance ruling, the Canada revenue Agency (“CRA”) was asked to consider whether a trustee seeking to amend a trust agreement for the appointment of the….

Trusts and Trust Resettlements – Variations and Circumstances Continue Reading »

Canada Revenue Agency, Disability, Estate Administration, Executors, Guardianship, Spouse, Tax Issues, Testamentary Capacity, Trustee, Trusts, Uncategorized
Scroll to Top