Shedding the Tax Light on a Blind Trust

Wednesday, July 16th, 2014

A blind trust is a trust in which a settlor (who would also be the contingent beneficiary) reserves the right to terminate the trust but agrees to relinquish all other control over the trust i.e. administered and managed by others without updates, advice, instruction, or account to the settlor. Whether ...

Changes to a loss application in a year where no tax was payable

Tuesday, July 8th, 2014

The Canada Revenue Agency was asked in a technical interpretation whether changes may be made to a loss application after the end of the normal reassessment period where a nil assessment was issued. The Agency's response gives hope to executor's with an interest in making adjustments to the prior ...

Reaffirmation of Testamentary Freedom in Ontario

Thursday, June 26th, 2014

A recent decision of the Ontario Court of Appeal, Verch Estate v. Weckwerth, reaffirms the autonomy of Ontario testators to distribute their estates as they wish provided that their statutory obligations are fulfilled. In this case, which was brought to my attention by a post on Lynne Butler’s Estate Law Canada ...