Archive for the ‘Passing of trustees’ and executors’ accounts’ Category

Big Gifts Can Lead to Big Problems

Friday, July 3rd, 2015

Attorneys for property be warned – if you make large payments to yourself from the incapable person’s property, be prepared to justify and account for those gifts.  Failure to do so may result in lengthy litigation. Such was the case in The Bank of Nova Scotia Trust Company v James.  Mr. ...

BITCOINS: does a digital currency create a foreign reporting requirement

Friday, May 15th, 2015

Sometimes you just never know what kind of assets or property you are going to find in an estate. In determining the nature and extent of the assets held by the estate, suppose you found a direct or indirect interest in a digital currency fund such as Bitcoins. The Canada Revenue ...

Warring Trustees: More isn’t Always Better

Monday, April 13th, 2015

Two recent court cases look at the perils of choosing multiple estate trustees and attorneys for property.  Often a testator will choose two or more of their children to act as co-estate trustees.   They may feel that it would offend one of their children to not appoint them as ...