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David Posner, Partner and Charles Wagner of Wagner Sidlofsky LLP discuss joint accounts where a foreign based deceased who has Canadian assets holds an Ontario account in joint tenancy in, A tax trap in mediation – the foreign joint tenant.
Mediation is mandatory in any Estate litigation commenced in the city of Toronto, Ottawa or in the county of Essex. Motivation to settle is often fueled by tax considerations. As part of the settlement, does it make sense for it to be allocated to the spouse or the children of the deceased? Read more.
