Family Business Succession: Beyond the Transfer of Shares

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This blog has been written by Pritika Deepak, Associate at Fasken LLP When family business owners think about succession planning, the focus is often on ownership. Who will inherit the shares? How should the business be structured? Can the transition be completed in a tax-efficient manner? These are important questions, but they address only part of the succession challenge. In many family businesses, the most valuable asset is not reflected….

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Business Succession Planning, Succession Planning

SMART AGEING, SMART ESTATES. Episode 3: Why You Need a Lifestyle Plan

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Most estate plans focus on what happens to your assets after you die. Far fewer estate plans address an equally important question: how do you want to live if your circumstances change before you die? If you lose your independence before your death, who will help you manage your life? Episode 3 of Smart Ageing, Smart Estates explores the lifestyle plan, which is a practical companion to legal and financial….

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Estate Planning, Podcast, Smart Ageing

Estrangement and its Implications on Estate and Succession Planning

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By: Rahul Sharma, Partner, Fasken Martineau DuMoulin, Toronto An article in the Wall Street Journal published at the end of last month caught my eye.  The article, entitled: “Why Are So Many Adults Cutting Off Their Parents?” (Why Are So Many Adults Cutting Off Their Parents? – WSJ) explained that family estrangement is on the rise.  The article’s author, Elizabeth Bernstein, cites a 2020 book by sociologist Karl Pillemer entitled….

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Estate Planning, Family Conflict, Succession Planning

Powers of Attorney: Gender Norms and the Invisible Labour of Care

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Scotiatrust

This blog post was written by: Holly LeValliant, Estate and Trust Consultant, Scotiatrust Toronto   “A child should not be paid to care for an ailing mother.”[1]  The comment captures a persistent expectation that the personal care of a parent is something an adult child, and often a daughter, is simply expected to provide. In estate and incapacity planning, it is remarkably common to see a familiar pattern:  a son….

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Attorney Compensation, POA Compensation, Power of Attorney, Powers Of Attorney and Guardianship Disputes

Bozek v. Drongosky: RRIF Beneficiary Designations and Tax Liability

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In Bozek v Drongosky, 2026 ONSC 4245 the Ontario Superior Court considered whether tax obligations imposed under the Deceased’s will in relation to her Registered Retirement Savings Plan (“RRSP”) continued to apply after the RRSP was converted into a Registered Retirement Income Fund (“RRIF”) and a new beneficiary designation was executed. The answer turned on the specific language of the will and the terms of the later RRIF designation, which….

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U.S. “Clearance Certificate” & Executor’s Personal Liability

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Umbrellas

Canadian advisors are often surprised to learn that a Canadian estate may have U.S. estate tax compliance obligations, even where the deceased was neither a U.S. citizen nor domiciled in the United States. Generally, if a Canadian resident dies owning U.S.-situs assets with a value exceeding US$60,000, the executor must file Form 706-NA. Whether U.S. estate tax is ultimately payable depends on the value of the U.S. assets, the size….

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Estate Administration, Executors, IRS, United States, US Taxes
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