My First and Only (Kind of) Experience with the Declarations of Death Act

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  This blog was written by Sally Lee, LLB – Estate and Trust Consultant with Scotia Wealth Management. When I was in private practice, I worked on a probate file where the deceased was declared dead pursuant to subsection 2(5) of the Ontario Declarations of Death Act.  He was missing for at least seven years and his family members made the application to the court.  I did not work on….

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Estate Planning, Family Conflict, Uncategorized

Not So Fast – Who Controls the Body?

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“He knows where the bodies are buried” is a throwaway line from Orson Wells’ cinematic masterpiece, Citizen Kane. That line soon took on a life of its own and entered the cultural vernacular. In the world of estates, a more frequent problem is not finding the bodies but deciding where to bury the bodies. In Miller v. Miller, 2016 ONSC 6625, Justice Myers of the Ontario Superior Court of Justice….

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Estate Administration, Estate Litigation, Executors, Family Conflict, Funeral Planning, Succession Planning, Wills

Fair Market Value Used to Test the Meaning of All or Substantially All of the Assets Used in an Active Business

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Under The Income Tax Act (“ITA”), if a taxpayer disposes of property that is all or substantially all of the assets used in an active business for consideration that includes shares of a corporation, the shares are deemed to be capital property. The disposal is considered to be a capital gain and may be eligible for the lifetime capital gains exemption for qualifying companies. This is a very important piece….

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Business Succession Planning, Canada Revenue Agency, Estate Planning, In the News, Investments, Property, Small Business, Tax Issues, Uncategorized

The Final Goodbye

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Further to my last week’s blog on ‘getting ready for the final scene’, my lovely 94 year old client died this past Saturday. I really can’t say it was a peaceful death as it seemed to be a very long and difficult journey. She could no longer eat or drink and as she was only 90 pounds when she entered the hospital, she seemed to have shrunk considerably. She could….

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Caregiving

In the Wake of Canada Without Poverty: Next Steps for Charities and Political Activities

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Today’s blog comes to you from Student-at-Law, Jake Woloshyn In the 2018 Ontario Superior Court of Justice case, Canada Without Poverty v AG Canada, 2018 ONSC 4147 (Canada Without Poverty), Morgan J. held that the Canada Revenue Agency (CRA) interpretation of the ‘substantially all’ condition in s. 149.1(6.2) of the Income Tax Act (ITA) – an interpretation that requires a charitable organization to use substantially all (no less than 90%)….

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Charitable Giving, In the News

Have You Considered Your RESP in Your Estate Plan?

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This Blog was written by: Alicia Godin, Estate and Trust Consultant, Scotiatrust A Registered Education Savings Plan (an “RESP”), is a type of tax deferred savings plan that parents, grandparents and other adults can open to save for the cost of a beneficiary’s post-secondary education. The beneficiary of an RESP is often a child or grandchild. I have recently had a number of questions about what happens to an RESP….

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Estate Administration, Estate Planning, Executors, RESP
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