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Toronto Ontario Estate Law Blog
When Your Children Live in the U.S.: Estate Challenges
Many families face challenges that they could not have foreseen when their children were growing up and living at home that one or more, and in some cases all of them, would end up living in the U.S. Children often decide to live permanently in the U.S. to pursue employment
Eco-Friendly Estate Planning: Leaving a More Sustainable Legacy
Sustainable living does not have to end with your lifetime. In today’s increasingly eco-conscious world, more and more individuals are looking for ways to reduce their carbon footprint and leave things “greener” for future generations. Eco-friendly estate planning can integrate those values into practical decisions that reduce your environmental impact
Update on The Capital Gains Exemption and Qualified Small Business Corporation Shares
Canadian taxpayers are currently afforded a cumulative lifetime exemption on capital gains realized from the sale of qualified small business corporation shares and on a qualified farm property or a qualified fishing property. A deduction on capital gains realized from any such sale(s) is permitted, up to the exemption amount,
Dad Added Me to His Bank Account – Do I Get the Money When He Dies?
This is a loaded question. The short answer is: it depends. If you’re interested in the long answer, keep reading. Why is this question so complicated? We have the Supreme Court of Canada decision in Pecore v Pecore (2007 SCC 17 (CanLII)) and the caselaw that follows it to thank. In
Foreign Beneficiaries and Foreign Estate Taxes: With Globalization Comes Complexity
Canadian families are more global than ever and this trend will only continue. Children and other family members increasingly work in other countries, sometimes staying after post-secondary education at a foreign college or university, forming relationships, including marriage, having children, and settling in their new home jurisdiction. Others emigrate to
Wills and Estates 101: Keeping Your Legal Terms Straight – Part 2
Back in 2023, my colleague, Marly Peikes, wrote a blog demystifying some common legal terms used in Ontario estate and trust planning. While an entire textbook could be filled with estate-related legal jargon, for now, we want to provide our readers with greater clarity on even more commonly used terms
Powers of Appointment: How They Work and Their Benefits
What is a Power of Appointment? A power of appointment is a valuable estate planning tool, which, broadly speaking, is a power that is frequently conferred on a person, including an executor, and the trustee and/or beneficiary of a testamentary or inter vivos trust (the “donee”), in relation to the
3 Good Housekeeping Tips for Your Will and Supporting Documents
Congratulations—you’ve started the year by accomplishing an important goal: you’ve signed your Will! You feel good knowing you’ve chosen a trusted executor, protected your hard-earned assets for your children, and provided for the people you care about most. But before you file it away and move on, there are a
Estate Tax Reform and the Impact of the One Big Beautiful Bill Act on Canadians
In our blog just under a year ago of January 29, 2025, we speculated on what to expect for U.S. estate tax under a second Trump administration. With the decrease to about half the current amount of the lifetime exclusion amount set to occur on January 1, 2026 unless new
Dependant’s Relief Claims: A Tug-of-War between Testamentary Freedom and Familial Obligation
Testamentary freedom is one of the hallmarks of Ontario’s estate planning regime. It gives individuals, when drafting and executing their wills and estate plans, the ability to distribute their assets in the manner that they see fit. However, this power is not absolute. A number of legislative restrictions exist on
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