All About Estates

Month: May 2021

Total 19 Posts

Bye bye May, hello happiness…..

Here we are at the end of May; warmer weather ( except for last week’s snow), longer days and the promise that this current stay at home order will be ending soon. Restrictions are starting to let up. Outdoor dining, in store shopping and haircuts are hopefully  resuming. However for…

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The Bank of Nova Scotia Trust Company v. Rogers: A Recent Consideration of the Criminal Forfeiture Rule

This blog was written by Meghan Carlin, summer student at Fasken LLP. While the law in Canada on the criminal forfeiture rule (or the “slayer rule”) is generally well understood, questions about next steps in the administration of estates where the primary beneficiary has been disentitled may be more difficult…

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Estate Planning for the Digital Collector: Don’t let your NFTs disappear into Ether

This blog was written by Raluca Gondor   Digital artwork and non-fungible tokens (NFTs) are gaining significant traction as part of a new era of collectibles, with a growing number of creators putting out exclusive digital content. The ten-year anniversary version of the Nyan Cat meme, Nike’s Cryptokicks, and a…

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The Role of the PGT – When, Why and How?

While estate lawyers are often presented with files that impact upon the rights of an incapable person, it is important to understand when, why and how the Public Guardian and Trustee (the “PGT”) becomes involved with such disputes. As noted on its website, and in general, the PGT acts as…

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No plan is usually not the best plan

When faced with making decisions, doing nothing is an option and for some decisions that could be the most viable option. However, In the world of estate planning, doing nothing rarely turns out to be a good idea. We can all point to an example of executing a deceased’s estate…

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A review of the use of a Principal Residence Exemption by a Trust

With Toronto’s real estate market being too hot to handle, clients more frequently are calling to review their estate plans in relation to their real estate holdings. Inevitably, such discussion occurs within the context of their overall planning, which may include the use of family trusts (i.e. inter vivos trusts…

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When Private Foundations Die

Private foundations are believed to be durable entities.  Perpetuity is assumed.  Canada Revenue Agency (CRA) data shows, however, that 2,319 private foundations closed during the period 2000 to 2021. Growth in Private Foundations There are currently 6,213 private foundations registered in Canada.  The private foundation is the fastest growing category…

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Inconsistency in CRA policy for dividends paid to a deceased beneficiary

A recent article discussed taxation anomalies that occur due to timing differences between when a trust receives a dividend and subsequently pays and allocates a dividend to a beneficiary. CRA view 2016-0647621E5 provides that when a trust receives a dividend in the year and subsequently pays and allocates the dividend to a beneficiary…

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Thank You Carers

May is National Caregivers Month. Now more than ever, the challenge of being a caregiver feels more of a ‘challenge’ than any other word that I can think of. It can be joyful, rewarding, an honor, an opportunity and an obligation. Caregivers come in all shapes and sizes and age….

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Tips on Bringing a Passing of Accounts Application – Part 2

In my blog Tips on Bringing a Passing of Accounts Application of March 5, 2021, I provided suggestions on preparing the accounts and drafting the court required documents when bringing an application to pass accounts (the “Passing Application”).[1]  In  today’s blog, I will share some tips on the next steps in…

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