Photo Credit: Universal Pictures This blog has been written by Sandra Arsenault, Law Clerk at Fasken LLP If you are the lucky (or more often unlucky) person appointed…
Category: Estate Administration
Total 418 Posts
In Re James Estate, 2023 ONSC 6432, the Court considered whether a disbarred lawyer could act as the estate trustee of an estate.
When a trust makes a capital distribution to a non-resident beneficiary, the beneficiary is deemed to have disposed of a part or the whole of their capital interest in the trust.[2] Where the capital interest in the trust is “taxable Canadian property” (“TCP”),[3] the vendor of the TCP (i.e. the beneficiary who is deemed to be “disposing” of their interest in the trust) must apply for a clearance certificate from the Canada Revenue Agency (the “CRA”) under section 116, either in advance of the disposition or within 10 days of the disposition.
With 6 weeks until the end of 2023, it is a good time to remind trustees of their obligations in respect of the trusts that they are responsible for managing and administering. Last year, I wrote a blog where I reminded trustees of discretionary trusts of the importance of documenting…
Pictured: Some myosotis flowers; colloquially known as “forget-me-nots”. I thought these would be appropriate for this blog post. In the estate planning world, we often see clients who want to be remembered for generations to come. For example, this could be through establishing a charitable gift, trust or foundation in…
Today’s blog was written by Jonathon Vander Zee, student-at-law at de VRIES LITIGATION LLP The original copy of a last will and testament is lost and cannot be found… now what? Losing an original copy of a will does not necessarily mean that it is no longer legally binding or…
It is important to consider estate planning objectives when entering into real estate transactions. For example, a client may intend to retain control of real property in that they intend to be able to dispose of it on death. However, if the relevant estate planning objectives are not identified and…
It is very difficult to plan for every possible scenario when you are drafting your will. Not only is it important to consider who to name as your executor, but you also need to think about what would happen if something happened to your executor. In an earlier blog, I…
A recent Toronto Star article[1] highlighted what has become a bit of an interesting viral trend in the modern internet era: “scorched earth” obituaries, written by one or more of a deceased person’s relatives, who do not have anything nice to say in their send-off of the departed. The article provides…
This blog has been written by Mohena Singh, Associate at Fasken LLP As an estate planner, one of the most common questions I am asked is, “How do I transfer my house or cottage to my family without paying estate administration tax?” A common way we have seen individuals attempt…