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O'Sullivan Estate Lawyers LLP
Our Mission: Excellence in providing trust and estate solutions in a responsive and personal manner to carry out your objectives and ensure your peace of mind.

May 2014 Archives

Current Issues in Planning for Family Members with Disabilities

When planning for the financial security of a family member with a disability, it is important to take into account his or her unique circumstances and needs. Available planning options sometimes place a large emphasis on ensuring that income support under the Ontario Disability Support Program (ODSP) is not jeopardized. Where there are more than adequate financial resources to support a disabled family member, reliance on ODSP with its attendant restrictions may be unnecessary or even undesirable. Common planning options for persons with disabilities include Henson trusts, inheritance trusts, and Registered Disability Savings Plans (RDSP).

Tax, Tax and More Tax: Probate Fee Planning for Extra-Jurisdictional Assets

If you've been following the recent Federal Budget changes to testamentary trust taxation, the proposed (but now defeated) Ontario Budget with its increased taxes on higher-income earners, tobacco and airplane fuel, and the recent changes to the Ontario Estate Administration Tax Act (see my December, 2012 blog "The New Ontario Estate Administration Tax Regime - What you need to know"), you may be thinking you need to move tax planning further up in priority on your "to do" list. But there is good news: if you have assets outside Ontario, you can effectively plan for the administration of such assets on your death while avoiding the necessity of paying Ontario Estate Administration Tax (also known as probate fees) on the value of such assets.

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  • Top Ranked Canada Chambers 2017 Margaret O'Sullivan
  • Step | Canada | Advising Families Across Generations
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