Tag: Ontario

FEATURE
Protecting Your Estate From Litigation With Amelia Yiu (Ep. 12)

Protecting Your Estate From Litigation With Amelia Yiu (Ep. 12)

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While no one wants their will to be contested, estate litigation plays a crucial role in resolving disputes and ensuring the fair distribution of a deceased person’s assets.

Today on From The Source with Frankie and Sarah, they’re joined by Amelia Yiu, the founder of Elm Law in Whitby, Ontario. With 17 years of experience in estate litigation and family law, she dives into the complexities of estate litigation, discussing who can contest an estate, common reasons for disputes, and strategies for expressing clear testamentary wishes to prevent litigation. Amelia underscores the need for a professional advisory team and examines the validity of wills. She provides examples, addresses the importance of evidence and full disclosure in litigation, and advises how to proactively address potential claims.

Frankie, Sarah, and Amelia talk about: 

  • Who can make a claim against an estate
  • Different types of claims against an estate
  • Common reasons for estate litigation
  • The importance of having a team of professionals
  • Real-life examples of estate litigation cases

Resources:

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Connect with Amelia Yiu:

About Our Guest: 

Amelia Yiu, LL.B., TEP is the owner and Principal Lawyer at Elm Law Professional Corporation: Estate Litigation and Powers of Attorney.

Amelia’s practice is focused on Estate Litigation, Power of Attorney Disputes, and Family Law as it relates to Estates or Power of Attorney matters. Death or incapacity of a loved one is always a very difficult time for families, but family disputes bring emotional complications.

As an experienced lawyer, Amelia believes that legal counsel should be accessible and cost-effective for her clients. That’s why Amelia takes the time to understand her clients and the family dynamics at the heart of the issues. She pursues her clients’ best interests to the greatest extent possible.

Amelia has appeared before the Ontario Court of Appeal, Divisional Court, and the Superior Court of Justice. Amelia received her Bachelor of Laws from Queen’s University in 2006 and was called to the Ontario Bar in 2007.

Amelia is the former Chair of the Elder Law Section of the Ontario Bar Association.  She is listed as an expert in the area of Trusts & Estates Litigation on ReferToHer and is a member of STEP. She has also been a speaker and panelist at various continuing legal education seminars on elder and estate law.

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FEATURE
Estate Distribution and Probate Planning: What You Need to Know (Ep. 7)

Estate Distribution and Probate Planning: What You Need to Know (Ep. 7)

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How can you ensure your beneficiaries are getting what you expect them to?

Frankie and Sarah discuss various aspects of probate and estate planning in this episode of From the Source. Listen as they explain probate fees, exemptions, and assets that can pass outside of the estate while stressing the need to understand asset ownership and distribution to determine what is subject to probate. Frankie and Sarah also talk about probate planning, issues with multiple property owners, and the potential tax liabilities that can arise. 

Gain insight as Frankie and Sarah discuss: 

  • What probate is and how the probate fee is calculated in Ontario
  • How assets pass through an estate versus outside of an estate
  • The three main pitfalls of probate planning 
  • What executor compensation is and how it’s calculated
  • The impact of probate planning on asset distribution

Resources:

Connect with Frankie Loreto and Sarah Netley: 

 

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FEATURE
Owner-Managed Businesses Part 4: The Canadian Capital Gains Exemption (Ep. 5)

Owner-Managed Businesses Part 4: The Canadian Capital Gains Exemption (Ep. 5)

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This episode concludes our miniseries for owner‑managed businesses, so if you haven’t heard parts 1‑3, we recommend you check those out!

To round out the miniseries, Frankie and Sarah break down the specific criteria under the Income Tax Act (ITA) for the capital gains exemption, beginning with a brief overview of what it is, what it does, and how business owners can qualify.

Become a little more savvy as Frankie and Sarah discuss:

  • The definition and purpose of the capital gains exemption, and its specific qualifying criteria
  • Tips on balance sheet categories for business owners
  • The three main capital gains exemption tests of the ITA

Resources:

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FEATURE
Owner-Managed Businesses Part 1: How To Pay Yourself (Ep. 2)

Owner-Managed Businesses Part 1: How To Pay Yourself (Ep. 2)

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Welcome to part one of a four-part miniseries where Frankie and Sarah will focus and highlight key areas of interest for business owners, like, operation liabilities, exit strategies, and family succession.

In this episode, Frankie and Sarah talk about different ways business owners can pay themselves, various tax benefits, and the drawbacks of dividends and income splitting. 

Listen as Frankie and Sarah discuss: 

  • The difference between a salary and dividends
  • Why there are tax implications when you spend business income freely
  • How you can take advantage of tax benefits from dividends
  • The benefits and drawbacks of income splitting
  • What Tax On Split Income (TOSI) is

Resources:

Connect with Frankie Loreto and Sarah Netley: 

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