Bare Trusts and New Reporting Rules
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With limited exceptions, starting with the 2023 tax year, the trust reporting rules in Canada have expanded to capture bare trust...
Heather Marshall
- Dec 3, 2022
- 4 min
The Challenge of Dealing with Personal Effects
A recent article published in the Globe and Mail* estimates that over the next 10 years, Canadians will inherit an estimated One Trillion...
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Heather Marshall
- Jun 5, 2022
- 2 min
Prescribed Rate Loans for Income Splitting – Lock in the Rate Before July 1, 2022!
The Canadian income tax system uses the individual as the tax unit rather than the family. In many cases, this results in unequal tax...
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Heather Marshall
- Sep 27, 2021
- 2 min
Proving the Validity of a Signature on a Will
In Ontario, there are certain formalities that must be followed for a Will to be validly executed: (1) the testator (Will signer) must...
1,458 views0 comments
Heather Marshall
- Jun 19, 2021
- 3 min
Changes to Ontario's Estates Laws
Back in February, I wrote about changes to the Estates Act and the Rules of Civil Procedure which established a simplified probate...
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Heather Marshall
- Feb 22, 2021
- 2 min
Welcome Changes to Ontario’s Probate Process for Small Estates
The Ontario government has introduced the Smarter and Stronger Justice Act, 2020 (the “Justice Act”), which amends more than twenty...
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Heather Marshall
- Jun 13, 2020
- 3 min
Are Two Wills Better than One?
This blog post will focus on Estate Administration Tax (“EAT”) and a commonly used planning strategy to reduce the amount of EAT payable.
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Heather Marshall
- Apr 12, 2020
- 2 min
Virtual Witnessing of Wills and Powers of Attorney
Virtual Will Signings are Temporarily Legal - Wills and Powers of Attorney during the COVID-19 Pandemic
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Heather Marshall
- Mar 2, 2020
- 2 min
What Do You Do When You Can't Find The Original Will
When a loved one passes away, the family has the inevitable task of dealing with the deceased’s affairs and administering their estate....
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Heather Marshall
- Nov 30, 2019
- 4 min
To Elect or Not to Elect?
As a general rule, in Ontario, we have “testamentary freedom” or the autonomy to distribute our assets as we wish. I say, as a general...
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Heather Marshall
- Aug 29, 2019
- 3 min
Trusts for Children
A common concern I hear from clients with young children is how to protect their children’s inheritances. The best way to protect assets...
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Heather Marshall
- Feb 21, 2019
- 6 min
Beneficiary Designations: Mistakes to Avoid
Here is a typical scenario: You attend at your bank to set up a Registered Retirement Savings Plan (RRSP) or a Tax Free Savings Account...
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Heather Marshall
- Dec 21, 2018
- 3 min
Powers of Attorney: What The Heck Are They and Why Do You Need Them?
A power of attorney is a legal document by which you (called the “grantor”) appoint a person or persons (the “attorney”) to make...
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Heather Marshall
- Sep 27, 2018
- 4 min
10 Consequences of Dying without a Will
In my last blog post, I discussed the reasons why parents of young children need to have valid Wills in place. While it is true that...
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Heather Marshall
- Jul 11, 2018
- 3 min
Do You Have Kids? You need a Will!
I have a confession to make: I didn’t have a will until a few days before I started my maternity leave with my first child. As a wills...
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Heather Marshall
- Jun 15, 2018
- 3 min
Joint Accounts and Joint Ownership with Adult Children: Not as Simple as You May Think
In my practice, I frequently encounter elderly parents who have added their adult child to their bank or investment accounts, or...
1,770 views0 comments
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