Brown Bag Lunch – May 15, 2023

  • June 25, 2023
  • Rebecca Kennedy, Adair Goldblatt Bieber LLP

OBA members met for the May Brown Bag Lunch on the 15th of the month. As usual, attendees came ready with fascinating questions and insightful input for their fellow section members.

One BBLer asked about others’ practices in advertising for creditors. In past years, when advertising in the newspaper, one attendee shared that the normal practice involved publishing 3 weeks in a row and waiting 30 days after the third publication. Others mentioned that NoticeConnect has now been approved as being an appropriate way to advertise for creditors, and is more cost effective than the newspaper option. One participant shared that Estateably also has the ability to publish a notice to creditors and may be another more cost-effective option.

Next, one attendee shared a tip they had recently learned from a financial planner in relation to TFSAs, namely that it often makes sense to name a successor annuitant for a TFSA, rather than a beneficiary, allowing the successor annuitant to then maintain two TFSAs and get around the contribution cap. Some other attendees agreed that they had a similar understanding in this regard.