Capacity Law

Total 143 Posts

Despite a Messy Fight Over a Billionaire’s Capacity, Succession Planning Still Essential

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Over the past year, the saga of billionaire Sumner Redstone’s estate and capacity fight has continued to play out in the United States. Redstone, an American media magnate, was the subject of a lawsuit brought by Manuela Herzer, a former girlfriend. Herzer alleged that the CBS Corporation and Viacom owner was incapable, and was being manipulated by his daughter, Shari Redstone. That lawsuit was dismissed in May of this year…..

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Capacity Law, Elder Law, Estate Administration, Estate Litigation, Estate Planning, Family Conflict, Trustee Disputes

PRINCIPAL RESIDENCE EXEMPTION AND BENEFICIAL OWNERSHIP – AN UPDATE

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We know that if a property qualifies as a principal residence, an exemption can be claimed to reduce or eliminate any capital gain otherwise realized on the disposition of the property. Under the Income Tax Act, one of the requirements for a property to qualify as a taxpayer’s principal residence for a taxation year is that it must be “owned” by the taxpayer. In common law jurisdictions, two forms of….

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Canada Revenue Agency, Capacity Law, Estate Administration, Estate Planning, Investments, Joint Tenancy, Liability, Property, Real Estate, Tax Issues, Trustee

Sumner and National Amusements

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In a number of previous Blogs, there have been references to famous families feuding over estates. This Blog is about a similar story except that the subject, Sumner Redstone, is still alive at 92 years of age. For those who don’t know, Sumner Redstone is a media mogul. He currently owns the majority interest in Viacom and CBS Corporation (through National Amusements Inc.), estimated to be worth around $5 billion…..

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Capacity Law, Estate Planning, Family Conflict, Powers Of Attorney and Guardianship Disputes, Succession Planning, Testamentary Capacity, Undue influence

Carter v Canada: The prudent position of the Federal Government on mental illness

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The polarized perspectives on Physician Assisted Dying (PAD) mean that no matter where the Federal Government landed on the specific details of the implementation of the Carter v Canada decision, there would be a guaranteed outcry from one or both of the poles – those representing autonomy under the Charter of Rights and Freedoms and those concerned with the need to protect the vulnerable. There is certainly merit in the….

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Capacity Law

Costly Cottage Dispute – $403,174.85 in Legal Costs Sought in Dispute Over $300,000 Cottage

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At long last, cottage season is upon us. As I gaze longingly out my window at the construction of what looks like an awesome rooftop patio in the making, I thought it would be fitting to write about a cottage dispute.[1] A really, really expensive cottage dispute. The background was as follows. The mother, Grace, made a will in 2010 leaving her condo to her daughter Barbara and her cottage….

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Capacity Law, Costs, Cottage, Estate Litigation, Family Conflict, Property, Real Estate, Testamentary Capacity, Wills

Don’t let inheritance issues tear your family apart

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I was recently drawn to the Life section of the Toronto Star –  more specifically the “advice column” – by a compellling headline; to wit: “Don’t let inheritance issues tear your family apart”.  So far, sound advice. However, the author went on to provide some inaccurate information on Powers of Attorney to the “upset granddaughter” who’s concerned about another family member’s “dwindling the inheritance for myself and other relatives”.   Although the readership….

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Capacity Law, Estate Planning, Family Conflict
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