Archive for the ‘Estates’ Category

TAKING CARE OF AN ADULT FAMILY MEMBER DURING THE PANDEMIC? BE MINDFUL – YOU MAY HAVE BECOME A "FIDUCIARY" – A HIGHER LEGAL EXPECTATION MAY APPLY.

Caregivers are increasingly being held to a higher legal standard. They are now generally regarded as a “fiduciary” to the person to whom they provide care. A fiduciary has higher obligations legally – caregivers are now in that category. Historically there are general categories of fiduciary relationships that have evolved in Ontario. They include: agent […]

Posted in Estates

DESIGNATING A BENEFICIARY FOR YOUR RRSPs – AVOID UNINTENDED TAX CONSEQUENCES AND A LEGACY OF LITIGATION FOR YOUR FAMILY.

Generally, you can designate a beneficiary for your RRSPs. If you do, generally the RRSP will be paid to your designated beneficiary on your passing. The RRSP will not form part of your Estate and, therefore, not be subject to Ontario’s estate administration tax. However, the problem: the federal Income Tax Act provides that, even […]

Posted in Estates

YOU CAN STILL MAKE YOUR OWN WILL AND POWERS OF ATTORNEY, IF NECESSARY, IF YOU CANNOT VIRTUALLY DO IT WITH YOUR QUALIFIED LAWYER – WHAT YOU NEED TO KNOW TO MAKE A "HOLOGRAPH" WILL. ALSO – THE REQUIREMENTS FOR YOUR FORMAL WILL

Post by: Jason Ward

By emergency order made on April 7, 2020, any person may now sign a will and powers of attorney virtually, or remotely, with your lawyer or licensed representative. This new measure will make it much more convenient for you to make a new will and powers of attorney, particularly during isolation and the need to […]

Posted in COVID-19, Estates

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