our 10th year
blog anniversary
I previously blogged about executors’ tax compliance responsibilities. In the past two plus years since that blog, there have been a number of changes of which executors and trustees should be aware. This blog provides an overview of key tax compliance responsibilities of executors and trustees and highlights some of
When updating your estate plan, it’s important to consider who will be the key decision-makers on death and on incapacity. Understanding these roles can help you prepare better for your future and make informed decisions about your property and personal care. This blog highlights the responsibilities of fiduciaries in the
This blog is a nod to all of our clients who think they are appointing us (their lawyer/attorney) as their “attorney” for property. We’ve put together this helpful resource of important legal terms in the Ontario estate and trust planning context. We hope this is a helpful tool or refresher
A person can only have one original will. In order for a will to be probated in Ontario, the original will must be filed with the Court. A copy of the original will, or even a notarial copy, cannot be used in its place without a court order. So, what
Underused Housing Tax The federal Underused Housing Tax Act became effective January 1, 2022, and the first tax returns for those who need to file are due in 2023. It imposes a 1% annual tax on the value of residential real estate in Canada owned by any non-resident, non-Canadian that
Testamentary freedom – the freedom to dispose of your estate as you wish – is a longstanding principle in Canada and other common law jurisdictions, although each province and territory in Canada has its own governing legislation as well as its own developing caselaw. In contrast, forced heirship is the
Under a continuing power of attorney for property (for ease of reference, referred to throughout this blog as a power of attorney), a grantor can give the authority to one or more people to manage their money and property on their behalf. In Ontario, the person appointed in this role
You’ve gone through the process of executing your Will(s), Continuing Power of Attorney for Property and Power of Attorney for Personal Care… now what? This blog looks at some of the considerations after you have signed your key estate planning documents. Storage One of the key considerations is where to
Many individuals take advantage of registered savings plans in Canada. The most commonly known plans are Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs). There are certain rules and restrictions to be aware of for Canadians who have such plans and become non-residents for tax purposes. In a
It is a well-established principle from the Supreme Court of Canada’s 2007 decision, Pecore v Pecore, that there is a presumption of a resulting trust where a gratuitous transfer of property is found. The primary example is when an asset is put into joint names by a parent with an
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