All About Estates

Considerations When Trustees are Involved in Transactions

Approaching year end, you increasingly may be fielding calls from corporate lawyer peers who are closing transactions in which trusts are involved. For example, trusts may be direct vendors or sellers, or, perhaps HoldCos are the sellers, but one or more trusts own the shares of the HoldCos.  This blog…

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Investing Prudently in Trusts for Dependents with Disabilities

Like so many other things, continuing care and living costs are on the rise. Whether you are a Henson Trust Trustee or a Discretionary Inheritance Trust Trustee, the onus to prudently manage investments is more crucial than ever. It is also imperative that investment plans fit the circumstances of the…

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Beneficial ownership reporting for trusts – the uncertainty is almost here!

The beneficial ownership reporting for trusts (BORT) rules, originally announced in the 2018 Federal Budget on February 27, 2018, has made its way into the House of Commons. The original draft legislation released by Department of Finance on July 27, 2018 was updated on February 4th and on August 9th…

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Please Pass the Gravy

Reposted as timeless advice: Now that border crossings have opened, many families will be traveling this week for the American Thanksgiving holiday. If you live in a different city than your parents, the time spent together during the holiday can allow you to see how well they are managing. Be…

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ELDER ABUSE: A GROWING PROBLEM IN AN AGING POPULATION

Today’s blog is co-written by Jennifer Campbell and Sandra Arsenault, Senior Law Clerks in the Private Client Services Group at Fasken. At the beginning of November, we were fortunate enough to attend the Institute of Law Clerks of Ontario (ILCO) annual conference in Niagara-on-the-Lake.  This conference brings together law clerks…

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Direct Designation Estate Donations

A direct designation gift of RRIF or life insurance proceeds is an estate donation, but lawyers and executors have little or no role to play. Normal procedural and disclosure rules don’t apply. How do charities ensure they receive their intended gift? How does the estate receive its tax receipt? Direct…

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The Incapable Foreign Beneficiary

If you’re a frequent reader of this blog, then by now it you should know that acting as a trustee comes with a minefield of obligations and duties. Sorry folks, but I’m adding one more to the pile. The Case In Galea v. Tybel et al., a trustee of a…

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November is (Please) Make A Will Month

Reposted: My fellow bloggers and I write frequently about Powers of Attorney, however my concerns are often focused on the lack of planning when it comes to making Powers of Attorney for both Personal Care and Property. More specifically, although I do not have any statistical data, my subject matter…

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New Trust Reporting Requirements Postponed Yet Again!

Today’s blog was written by Pritika Deepak, Associate at Fasken LLP. Several tax practitioners and professionals alike breathed a sigh of relief on November 3rd, 2022, when Parliament confirmed that the enhanced tax reporting obligations for trusts shall be postponed once more. As per draft legislation published on August 9,…

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Can a trustee demand financial information from a beneficiary?

This Blog was written by: Alicia Mossington (Godin), Estate and Trust Consultant, Scotia Wealth Management  A trustee is responsible for carrying out the terms of a trust. Choosing the right trustee is essential to the success of any estate plan but it is also incredibly helpful to give them tools and…

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