our 10th year
blog anniversary
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
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
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
The Ontario Family Law Act (FLA) determines the division of property between spouses on marriage breakdown. But what happens when a spouse is a beneficiary of a discretionary trust? By way of background, the FLA requires each spouse on marriage breakdown to value his or her “net family property” (NFP).
When a client dies leaving assets in more than one country, conflict of laws rules (also known as private international law or PIL rules) step in to help determine which country’s law should govern succession of the estate. As outlined in our earlier blog post of July 16, 2013, to
Your estate plan may only be truly up-to-date the day you sign your estate planning documents. This statement no doubt may dismay you and perhaps be unwelcome, in particular given the effort, time and expense that goes into preparing wills, trusts and powers of attorney. The reality is that our
Persons emigrating from Canada are deemed to have sold all of their property, with some exceptions such as real estate in Canada and retirement plans, for fair market value proceeds and are subject to tax on any resulting gains. Once resident in another country, a person may be subject to
Those of you who watch U.S. network T.V. news at night are probably familiar with the catchphrase “It’s 11 (or 10) o’clock. Do you know where your children are?”. Many comedic versions of this phrase have been coined over the years, and it has become part of our modern pop
One of the perceived disadvantages to using a trust in estate planning is that restrictions on trustees’ investment decision-making under trust law will result in lower investment returns. In particular, this is a concern where a trust has an income beneficiary to whom income is paid, usually for his or
From time to time in the news we read about wealthy celebrities and business magnates who have publicly stated that their offspring should not expect to receive any sizeable inheritance upon the parent’s death. In recent years, these pronouncements have come from a variety of people including Sting, Warren Buffett,
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