our 10th year
blog anniversary
In both our August 2015 and March 2016 blog posts, we discussed the importance of frequently reviewing your estate planning documents, as personal and financial circumstances can constantly change. Failing to make necessary revisions to your estate planning documents may result in unintended consequences that do not accurately reflect your
When family wealth is at stake, parents may wish to encourage their children to enter into a domestic contract with their partners. The purpose may include to protect significant gifts and inheritances, a home owned at date of marriage, or a family business. With divorce rates at an all time
One of the increasing challenges facing parents and other family members today is achieving success in their estate planning – passing on their wealth well. But how should we define “success”. From a professional viewpoint, much of estate planning focuses on ensuring a tax and cost-efficient transition of wealth to
In estate planning, a parent typically wishes to provide for their children and each child’s family. However, this desire to benefit the child’s family often has a caveat: the child’s spouse should not receive any part of the inheritance in the event of separation or divorce.
In April 2017, the CBC reported that over 1,300 people in Canada have died with medical assistance since the Criminal Code was amended in 2016 to legalize medical assistance in dying (“MAID”). While this statistic points to the importance of MAID for many Canadians, the new legislation has not settled
On January 1, 2017, most of the provisions of the All Families Are Equal Act (Parentage and Related Registrations Statute Law Amendments), 2016 (S.O. 2016, c. 23) came into effect in Ontario. The intention of the Act is to establish new rules of parentage in Ontario to deal with the
A current trend in the increasingly expensive Canadian housing market is parents helping children or grandchildren and their spouses with a down payment or mortgage on a first home. In Ontario, about 35% of people buying homes now receive assistance from their relatives with a down payment and approximately 38%
Putting estate planning documents in place can be a daunting task, but it does not end there. Estate planning is an organic process that requires ongoing attention and revision. Circumstances in your life will continue to change and your main objective is to ensure that your wishes and intentions are
Most taxpayers know that when you sell an asset which has increased in value, the federal Income Tax Act provides that you will generally be liable for capital gains tax on the net increase in value, unless there is an applicable exemption. One exemption from capital gains tax is for
There are many things that we think about and plan for when we move–furniture, movers, schools, utilities… I could go on and on. There are even more things that we plan for when we move to another jurisdiction-language, taxes, visas, driving laws… and so it goes. But one thing you
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