Archive for the ‘Estate Planning’ Category

King Lear: Lessons in estate and succession planning, capacity and family dynamics

Friday, August 29th, 2014

The Stratford Festival has included ‘King Lear’ among this year’s performances.  ‘Lear’, of course, is the poster boy for older adults who use poor judgment in determining how and when to distribute their assets to their children.  The opening of King Lear reveals the King’s intent to divest his kingdom ...

PRICE ADJUSTMENT CLAUSES IN ESTATE PLAN AGREEMENTS

Thursday, August 28th, 2014

Many estate plans include a transfer of property (e.g. shares of a privately held corporation) to a company and freeze the value (or price) of the transferred property to the current owners at the transfer date. To avoid some punitive provisions in the Income Tax Act associated with non-arm’s ...

Should you wait to bring a will challenge?

Wednesday, August 27th, 2014

The Ontario Superior Court recently addressed the question of the limitation period applicable to a will challenge.[1] The challenge in this case was brought by the testatrix’s son. The testatrix, Eleanor, died on June 4, 2011. She left Primary and Secondary Wills executed on April 9, 2011 that left specific ...