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Revival Trusts: Dead on Arrival?

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This blog was written by Lara Besharat Benjamin Franklin famously wrote that “in this world nothing can be said to be certain, except death and taxes.” A hundred and seventy-eight years later, the Alcor Life Extension Foundation undertook to disprove this generally accepted inevitability. In 1967, James Bedford became the first person to be cryonically preserved after death in the hopes of someday being brought back to life. For up to $200,000 (not including….

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Estate Planning, In the News, Uncategorized

Celebrity Estate Battles

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Families fight.  Celebrities are no different.  If anything, it is always interesting to read how the ultra-wealthy handle their estate planning and what issues arise on their deaths (particularly as there is usually a string of ex-spouses and multiple children involved).  In today’s blog, I discuss some of the legal battles that arose as a result of a celebrity’s poor estate planning. Jimi Hendrix Jimi was a legendary guitarist.  Sadly,….

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SHAREHOLDERS AGREEMENTS, EXIT PROVISIONS AND THE IMPACT OF CONTROL

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Control is an important concept for applying certain income tax rules and valuation issues (amongst others) when dealing with corporations, with serious implications to current and future (and estate) planning scenarios. De jure control refers to legal control of a corporation, which requires a look at shareholdings. Control in fact, or “de facto control”, (“DFC”) is a broader concept that focuses on influence rather than legal control. As a result,….

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Business Succession Planning, Canada Revenue Agency, Contracts, Estate Planning, Investments, Property, Small Business, Succession Planning, Tax Issues, Uncategorized

Too much “Legalese” – Better Pay Attention!

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  This Blog was written by: Emily Racine   While reviewing wills with clients, the focus is often on the dispositive provisions of the will; in other words, clients tend to focus on the first five pages of the will and leave the rest to the lawyers. For the most part, this is for good reason. Wills often contain 10 or more pages of boiler plate language that can put….

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Contested wills, Estate Litigation, Uncategorized, Wills

Happy Birthday: Our Updated Federal Dementia Strategy

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A few weeks ago  there was an announcement  that the Federal health minister earmarked $50 million over 5 years to support our new dementia strategy.  You may recall that the National Strategy for Alzheimer’s Disease and Other Dementias Act was passed in June 2017, which at that time, was a great birthday present for our 150th birthday. Following several consultations, 5 principles were established to guide the process. Prioritize quality….

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Elder Care, In the News, Uncategorized

The Senate Speaks Charity

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It’s hard to underestimate the importance of the Special Senate Committee on the Charitable Sector report to that was released on June 20th.  After almost 18 months of hearings and consideration, this once-in-a-generation study came up with 42 recommendation on topics ranging from volunteerism, social enterprise, regulatory system, and judicial review process.  There are five recommendations that deal with giving and tax incentives. Review Tax Measures Recommendation 9 makes a….

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Charitable Giving, Philanthropy/Charitable Giving, Uncategorized
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