Archive for the ‘Executors’ Category

Boilerplate Blues

Thursday, September 18th, 2014

Most clauses in a Will are (or should be) clear on their face.  That being said, certain standard clauses  - even when drafted in plain English - may be opaque to the layperson.   The “persons born outside marriage” clause is a good example of a provision which begs an explanation.  In Ontario, ...

Better late than never…or not

Monday, September 8th, 2014

The Canada Revenue Agency recently wrote about a whether a late-filed election to retain the principal residence status will be accepted. When the use of a property that is a principal residence is changed from being owner-occupied to a rental property the CRA considers the owner to have sold and reacquired ...

Insolvent Estates – Administration Options

Monday, August 25th, 2014

An emerging trend in estate administration in the past few years seems to be an increase in the number of insolvent estates. An estate is insolvent if it has liabilities in excess of its assets and therefore is unable to meet financial obligations with creditors as the debts become due. There ...