January 2024

Estate Planning and the Changes to the General Anti-Avoidance Rule (GAAR)

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Estate advisors looking at tax minimization and corporate restructuring of their clients’ affairs as part of their estate and wealth planning will now need to consider the new changes to the General Anti-Avoidance Rule (GAAR). Bill C-59 was introduced in Parliament on November 30th, 2023, and a section of the Bill amends section 245 of the Income Tax Act (the Act) and the GAAR provisions found in subsection 245 of the Act…..

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Estate Planning, Succession Planning, Tax Issues

Contempt of Court

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We’ve all heard of contempt of court, a common fixture in many courtroom dramas and law-related TV shows. In reality, civil contempt of court is quite uncommon, arising only on occasion during contentious litigation. In the estates context, contempt of court is most often linked to a party’s refusal to account for, release or transfer funds as directed by the court. For a litigant, it can be very disheartening to….

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Courts, Estate Litigation

Life is Simple. People are Complicated, including by Culture.

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This blog has been written by Rahul Sharma, Partner, Fasken Martineau DuMoulin LLP, Toronto I seem to keep bumping into quotes that remind me that life is simple, but people are complicated.  There are perhaps many ingredients to this complexity.  Culture is one of them. Last week, I presented at a conference as part of a panel on cross-cultural considerations in estate planning.  The conference was outside of Canada; nevertheless,….

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Business Succession Planning, Estate Planning, Tax Issues

When a Financial Plan meets an Estate Plan

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Our lives were upended a few years ago by the pandemic, and things since then have been anything but typical.  From elevated inflation to skyrocketing interest rates, our expectations for the future and our perceptions of what is normal have been challenged.  The word “unprecedented” may be overused, but it does articulate the point that we never know what might happen with our daily lives or our financial situations.  That….

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Estate Planning, Investments

Charity Governance and Estate Donations

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[caption id="attachment_20630" align="aligncenter" width="333"] Richard Serra, Band, 2006[/caption] The headline is not intended to scare you off.  Admittedly, governance is a notoriously dull topic, made worse by the enthusiasm of governance wonks.  Charity governance is rarely a matter considered, at least overtly, by an estate donor when planning a gift by will. But strong governance is essential to good charities. Governance helps determine the current and future health of a charity.  Will….

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Estate Donations, Philanthropy/Charitable Giving, Uncategorized

Is a Foster Child Entitled to Take Under an Intestacy?

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In Estate of Sydney Monteith v. Monteith, the court declined to award a share of the Deceased’s estate to his foster sister. Sydney (the “Deceased”) died on March 16, 2022. He left no Will. He had no spouse or issue and was predeceased by both his adoptive parents. Pursuant to s.47(4) of the Succession Law Reform Act (“SLRA”), Sydney’s estate would be distributed equally among his surviving siblings and/or the….

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Estate Administration
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