Principal residence and the change in use

• • 0 Comments

It is not unusual for find the value of a deceased’s home makes up a significant part of their net worth and estate value on death. Often there is an automatic reliance on the principal residence exemption to tax exempt the gain on the deemed sale triggered on death.  What if during the person’s life the property was used for other purposes such as a home office, or day care….

Principal residence and the change in use Continue Reading »

Canada Revenue Agency, Cottage, Estate Administration, Estate Planning, Executors, Property, Real Estate, Tax Issues

Going Gently Into The Good Night

• • 0 Comments

Last week was Canada’s National Hospice Palliative Care Week. So what is palliative care? Since its inception in Canada in the 1970’s, things have changed quite a bit. Only a few years ago, the term palliative care and the public’s general understanding, was that it meant the end was imminent and all proactive treatment was to be stopped. Patients would hear the term ‘palliative care’ and it would mean less….

Going Gently Into The Good Night Continue Reading »

Uncategorized

The Intersection between Family Law and Estates Law

• • 4 Comments

The Family Law Act, R.S.O. 1990, c. F.3 provides that when a spouse dies and the surviving spouse’s net family property[1] is less than the net family property of the deceased spouse, the surviving spouse may elect to take one-half of the difference between the net family property of the deceased spouse and the net family property of the surviving spouse (“equalization”). Will vs. Equalization: The general rule is that….

The Intersection between Family Law and Estates Law Continue Reading »

Estate Planning

Hidden treasure leads to hidden problems

• • 0 Comments

This Blog was written by: Robert Boyd We have all read articles detailing how people have stash millions of dollars under their mattress or, executors discover vast quantities of gold discovered at the home of a recently deceased individual. From an estate planning perspective, this may come as a huge windfall to the beneficiaries of the estate, but one has to wonder, what are the practicalities of dealing with the….

Hidden treasure leads to hidden problems Continue Reading »

Estate Administration, Uncategorized

Court of Appeal Limits Dependant Support Claw Back

• • 0 Comments

The family law bar must be breathing a sigh of relief after reading the Court of Appeal’s decision in Dagg v. Cameron Estate, 2017 ONCA 366. Both the application judge and the Divisional Court (discussed on this blog, respectively, here and here) held that a life insurance policy taken out pursuant to a separation agreement could be clawed back into the estate for a dependant support claim by the subsequent….

Court of Appeal Limits Dependant Support Claw Back Continue Reading »

Estate Litigation

DEATH BENEFITS: CAN THEY BE APPLIED TO THE INCORPORATED OWNER-OPERATOR?

• • 0 Comments

A death benefit is an amount received after a person’s death for their employment service. In general, any amount up to $10,000 received is not subject to tax, pursuant to regulations contained in the Income Act (“ITA”). What if the deceased was the sole shareholder of a corporation and received a death benefit? Recently, the Canada Revenue Agency (“CRA”) was asked to consider two scenarios: 1. The sole individual shareholder….

DEATH BENEFITS: CAN THEY BE APPLIED TO THE INCORPORATED OWNER-OPERATOR? Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Planning, Probate Tax, Small Business, Tax Issues, Uncategorized
Scroll to Top