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Graduated Rate Estates: Easy Come, Easy Go

Since 2015, Graduated Rate Estates (GREs) have remained one of the only trusts that are entitled to marginal tax rates, and are the only trust that can choose its own tax year-end under the Income Tax Act. An estate qualifies as a GRE provided certain conditions are met: the estate is within 36 months of […]

Proposed Changes to Ontario’s Wills and Estates Law Under Bill 245

On February 16, 2021, Attorney General Doug Downey introduced to the Ontario Legislature Bill 245 – the “Accelerating Access to Justice Act”. Having been carried through First Reading, the Ontario Government proposes some notable changes to Ontario’s wills and estates law: Virtual signings of wills and powers of attorney Bill 245 proposes to permanently codify […]

Resigning as the Attorney for Property and/or Personal Care

In an earlier blog, I wrote about how to resign as estate trustee of a loved one’s estate. In this blog, I will be discussing how to resign as the attorney under a Power of Attorney for Property or Power of Attorney for Personal Care. Acting as an attorney can be equally onerous as acting as […]

No Quick and Easy Fix to Stop Predatory Marriages

Predatory marriages are on the rise in Ontario. Predatory marriages occur when a financial predator enters into a relationship with an elderly person for the sole purpose of gaining access to the elderly person’s finances and estate on death. In Ontario, predatory marriages can have a serious impact on the elderly person and his or […]

Stepping Down as the Named Estate Trustee

Acting as the estate trustee of a loved one’s estate can be an onerous and thankless job. Most estate trustees will be quick to add that often times it’s not an honour but a burden. It comes with a great deal of responsibility, consumes much of your time and can expose you to liability. Where […]

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