Akua Carmichael

Akua Carmichael, LL.B, J.D., TEP, is director, tax and estate planning services, with Empire Life. Akua.Carmichael@empire.ca

Estate Planning

Common gaps when appointing an attorney for property and personal care

A case study explains the challenges

By Akua Carmichael | November 10, 2022

5 min read

Estate Planning

Power of attorney and incapacity planning: Do you have a plan?

Addressing estate planning’s ignored middle child

By Akua Carmichael | September 23, 2022

3 min read

Advisor's Edge

How to avoid succession battles with the family cottage

Keeping it in the family and maintaining harmony

By Akua Carmichael | November 2, 2021

4 min read

Advisor's Edge

Avoiding a dependant’s relief claim

A recent court case illustrates the risks that come with longer lives

By Akua Carmichael | February 7, 2020

4 min read

Estate Planning

Avoiding estate litigation

Estate planning centres on one main goal: preserving estate assets. While advisors offer planning advice and employ various strategies to reduce the tax liability of the deceased’s estate, even the best efforts can be fruitless if the estate faces claims that wind up in court.

By Akua Carmichael | May 29, 2013

5 min read

Industry

Creating a circle of trust

Testamentary trusts can be a useful tool in creating an estate plan, and ensuring that spouses who remarry, children from previous marriages and disabled children are all looked after. They are established through a will and become effective upon death. A trust requires three people: The settlor is the creator of the trust, who transfers […]

By Akua Carmichael | May 14, 2010

5 min read

Industry

Assessing Trustee Liability

The Ontario Superior Court case, Hicks v. Hicks, 2003 CanLii 2132 (ON S.C.), presents some interesting issues regarding trustee liability in situations where a trust incurs a loss. Anne Marie Hicks is the widow of Charles Hicks. Charles left an estate valued at approximately $15 million. He left a $9 million spousal trust and a […]

By Akua Carmichael | May 1, 2010

5 min read

Planning and Advice

Creating a circle of trust

By Akua Carmichael | April 10, 2010

5 min read

Planning and Advice

Estate planning for the incapacitated

In Canada and around the world people today are living longer. But higher life expectancies can be a mixed blessing. As we age, we face the possibility of myriad health challenges, including dementia and other forms of mental incapacity. Physical illness or a sudden life-threatening situation can render an elderly person incapacitated. What happens when […]

By Akua Carmichael | January 1, 2010

5 min read

Living Benefits

Providing for special needs beneficiaries

Special attention must be paid to planning for the needs of disabled beneficiaries, some of whom will be dependent on their parents for most, if not all, of their lifetimes. Issues concerning financial support, housing, healthcare, education, and employment of the disabled beneficiary must be addressed and a comprehensive plan put in place. Providing for […]

By Akua Carmichael | November 1, 2009

4 min read

Estate Planning

High-net-worth clients should draft dual wills

When a person dies leaving a will in Ontario, it isn’t uncommon for the executor of the estate to apply for a certificate of appointment of estate trustee with a will, a legal process where courts confirm the validity of the deceased’s will, and the executor’s authority to act on behalf of the estate. An […]

By Akua Carmichael | October 1, 2009

4 min read

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