January 2019

Chaos caused by Gifting

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This Blog was written by: Alicia Godin, Estate and Trust Consultant, Scotiatrust “A jealous son sues his desirous and spoiled younger brother and his beleaguered and over-his-head uncle about the spoils of the estate of his late mother.” Working in the area of estate planning and estate administration offers a glimpse into the range of family dynamics and human behaviour. As an estate planner, much of my time spent with….

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Estate Litigation

Rest assured, a will is not a trust

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The past few months have been quite dramatic for estate lawyers; both on the drafting and litigation end.  As many of our readers know, Justice Dunphy stirred the pot in the estate world with his decision in Milne Estate (Re).  To recap, in the Milne decision, a husband and wife died on the same day.  They each left mirror primary and secondary wills.  Each of the primary and secondary wills….

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Trusts, Wills

Amendments to the CBCA: Implications for the Valuation of Interests in Trusts?

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Amendments to Canada Business Corporations Act (“CBCA”), will come into force mid-2019 which will require each private CBCA corporation to maintain a register listing the actual individuals (i.e., physical persons with name, address and date of birth and tax jurisdiction) with significant control in fact over the corporation including individuals who are beneficial shareholders with significant control: an individual who is a registered or beneficial owner of, or who has….

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Canada Revenue Agency, Estate Planning, Interest, Investments, Property, Tax Issues, Trustee, Trusts

Lucid Intervals and Testamentary Capacity

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As I understand, “lucid interval” is a legal doctrine that holds that testamentary capacity may exist at a moment in time even though the testator’s general state would be inconsistent with the conclusion that he possessed testamentary capacity.[i] The idea is that an individual who suffers from mental illness or a neurological condition may have periods in which his or her ability to reason and make thoughtful choices is preserved…..

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Capacity Law, Contested wills, Estate Litigation, Wills

Cambria? Calibri? Does The Font Matter?

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I read an article about quite an amusing case recently. An executive went to great lengths to shield his properties from creditors. In “1995” a declaration was executed purporting to establish a trust for the executive’s Muskoka cottage and in “2004” a declaration was executed purporting to establish a trust for the executive’s Caledon farm. The executive claimed that he didn’t legally own the properties but rather they were held….

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Uncategorized

Broken Resolutions, New Opportunities

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Let’s be honest, you’ve already broken your New Year’s Resolution. But even though it’s January 24th, we haven’t missed the boat. January is a time for new opportunities, so why not target Chinese New Year on February 5th? Look at us! Embracing other cultures and being our best selves! Here are some ideas for your Lunar Calendar Resolutions….. More R-E-S-P-E-C-T  for Estate and Trust Professionals When Aretha Franklin famously sang….

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Estate Planning, In the News
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