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Wills, Trusts & Estates

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Tuesday, October 10, 2017 @ 10:26 AM

'Historical' transfer of wealth to women highlights importance of estate planning Financial planning

Money-management trends from the Mad Men era, when men were the primary breadwinners and wealth managers, have been slow to change. With many women set to inherit money from their parents and spouses, it's crucial that they become more involved in family financial matters. ... [read more]

Monday, October 02, 2017 @ 7:50 AM

A lawyer’s role in estate disputes includes encouraging settlement when reasonable

Clients may think they want their estate litigator to be a shark, but with the vast majority of cases settling before trial, what they really need is someone who can effectively advocate on their behalf — and that usually means a lawyer who takes the high road. ... [read more]

Wednesday, September 27, 2017 @ 9:50 AM

Manitoba Law Reform Commission calls for comment on administration of small estates Elizabeth McCandless sm

Manitoba is one of the few provinces in the country that has dedicated legislation and procedures surrounding the administration of small estates after someone’s death. The Manitoba Law Reform Commission, however, believes that the legislation should be updated in order to enhance access to justice. ... [read more]

Monday, September 25, 2017 @ 10:58 AM

GREs offer flexibility in claiming tax credits, reward charitable giving in wills

In 2016, testamentary trusts lost the ability for income earned to be taxed at graduated rates, leaving them subject to tax at the highest marginal rate. A Graduated Rate Estate is meant to soften the blow. ... [read more]

Wednesday, September 20, 2017 @ 10:16 AM

Ontario hopes to moderate charity rule requiring court order for director payments

Fiduciary law, and the actions of a few unscrupulous operators, led to the current rule designed to protect the public by ensuring charitable property is not misused. But most charities are governed by well-intentioned individuals who can often provide assistance beyond governance. ... [read more]

Tuesday, September 12, 2017 @ 11:59 AM

Canada Revenue Agency offers voluntary disclosure for non-compliant charities

Charities Directorate needs to strengthen guidance to bring process into line with upcoming changes to program covering non-profits. ... [read more]

Friday, September 08, 2017 @ 1:54 PM

MacPherson picked as new head of the Law Society of Prince Edward Island

The Law Society of Prince Edward Island elected Jennifer MacPherson as its new president. ... [read more]

Friday, September 08, 2017 @ 9:21 AM

How to encourage clients to revise their wills — without raising eyebrows

With most studies saying half of Canadians don’t have properly executed wills in place, clients — ever wary of extra legal fees — need to be reminded from time to time that they should update the document to reflect their wishes. ... [read more]

Friday, September 01, 2017 @ 9:03 AM

Inter vivos shelter trusts for children with special needs

I regularly speak to clients who want to buy a home for an adult child with special needs, to make sure they have safe and secure housing before they pass on. Many opt to buy a home and rent it to the child, but some consider buying it and putting it in the child’s name. If the child is receiving provincial disability benefits, this option is problematic because the net proceeds from the sale of the home would disqualify them from disability benefits. There’s also the potential for them to be manipulated by unscrupulous individuals, such as a new spouse who then divorces them. ... [read more]

Thursday, August 31, 2017 @ 8:40 AM

Till death do us part: Wills in blended families bring challenges for lawyers

The Ontario case of Rammage v. Estate of Roussel highlights the difference between reciprocal and mutual wills, and should cause lawyers to rethink the practice of acting for both spouses in a second marriage situation. ... [read more]