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Toronto Ontario Estate Law Blog
Fiduciaries, Mom and Apple Pie
One question that we are frequently asked is “When does my role as an attorney for property begin?” Often this question comes from an adult child, who wants to know either when they should start helping Mom or when they can start helping Dad with paying bills, making investment decisions,
One Key Ingredient for a Successful Estate Plan: Proper Asset Alignment
In our August 2015 post entitled “Keeping Your Estate Plan Healthy with Periodic Check-Ups” we raised the potentially problematic reality that your estate plan may only be truly up-to-date the day you sign your estate planning documents. We put estate plans in place to ensure that our wishes, intentions and goals
The Changing Face of Global Tax Transparency
High net worth individuals have been criticized (especially during election years) for not paying their fair share of taxes. These individuals often take advantage of legitimate tax planning strategies to lower their taxes. A portion, though, utilize evasive strategies that rely on a general lack of tax transparency between countries
Towards a More Just Society: Law Commission of Ontario Breaks New Ground on Decision-Making
In my first year of law school–1978–Ontario introduced new legislation to allow a power of attorney to survive incapacity. It’s amazing to think that prior to 1978 only legal guardianships through the court process (then called “committeeships”) were available to allow a decision-maker to act on behalf of an incapable
Using Trusts: The Future is Bright
On January 1st, several new income tax rules for trusts and estates came into effect. An overview of these significant changes are discussed in our Special Advisory. While we understand that there is an ongoing dialogue between the Federal Ministry of Finance and several professional organizations regarding possible changes to
Family Meetings: An Underutilized Tool
In our August 18, 2015 post we raised the idea of regular check-ups for your estate plan in order to keep it current. Periodic reviews help to keep you refreshed about the details of your estate plan so that it can be maintained and changed when necessary–ensuring it will carry
Testamentary Freedom: The Right to Disinherit a Beneficiary
Individuals in Ontario are free to pass their property on death as they wish, subject to certain legal limitations. This ability is often referred to as testamentary freedom and is a hallmark of English common law. Over the years, testamentary freedom has lost ground to other public policy objectives, such
Proactive Charitable Giving: A Balancing Act
Charity begins at home, so they say. This may be where it starts, but your estate plan is where your charity may end. Most of us will donate time or money to one cause or another during our lifetimes (who doesn’t love Girl Guide cookies?). When we die, however, our
Confidentiality Matters: Thoughts on Death and Privacy
Privacy and the protection of personal data are a major concern in modern society. Complicated privacy legislation exists in many jurisdictions with the objective of protecting personal information by imposing multiple safeguards, some of which can be frustrating to deal with. With the increasing stores of digital information, we also
New Developments in Interjurisdictional Incapacity Planning
With the arrival of fall, many readers may be preparing to escape the pending cold by travelling to warmer climates for extended stays. In our February 12, 2014 blog post we highlighted the potential concerns and practical issues if you become incapable of making either financial or personal care decisions (whether