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, ...

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 ...

Is it a Will?

Tuesday, July 15th, 2014

The answer to this question depends on (i) the legal requirements regarding the formalities for making a Will and, (ii) when those requirements are not met, whether the court with jurisdiction over the Will is able to follow the doctrine of “substantial compliance”. In Ontario, in order for a Will to ...