All About Estates

Category: Estate Administration

Total 241 Posts

Gift of Ecologically Sensitive Lands and the Carryover period for charitable donation deduction

In Yellow Point Lodge Ltd. v, The Queen DTC 1130, the Company owned certain lands on Vancouver Island, mostly undeveloped and in its natural state. In June 2008, the Company granted a covenant and other specified legal interests with respect to a parcel of ecologically-sensitive land, to two organizations, with…

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Divisional Court Sets Aside Decision Ordering a Passing of Accounts

In Foisey v. Green, the Divisional Court allowed an appeal of the application judge’s decision that set aside a release signed by a beneficiary who was later deemed incapable of managing property. I previously wrote about the earlier  decision that was under appeal. The appellant, Ms. Green, was an estate…

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Attribution under 75(2)

Income attribution rules, generally speaking, operate so that income of one person (the actual recipient of the income) is attributed to and becomes income of another person (the transferor). Whether or not income which is subject to subsection 75(2) is first and foremost income of the trust itself can be…

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When Spouses “Separate” Due to Changing Medical Needs

This blog was written by Christina Papadopoulos, student-at-law at de VRIES LITIGATION LLP. How does a physical separation caused by the admission of one spouse into a long-term care facility impact the interpretation of a will? This was the question posed to the Ontario Superior Court of Justice in Stuart…

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Celebrity Estates – Not Immune from the Trials and Tribulations of Estate Planning and Litigation

With TIFF in full swing, celebrity worship is in overdrive. However, celebrities also deal with the mundane and there is often nothing glamorous about their estates. In fact, like the rest of us mere mortals, celebrities do not have a lock on getting things right. So often, there is so…

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The $100 Million Executor Fee: Unexpected but not Unreasonable

This blog was written by Paula Lester – Estate and Trust Consultant with Scotia Wealth Management When the four executors of Leona Helmsley’s $5 billion estate asked for payment of $100 million for their services, it was touted as being astronomical by the challenging Attorney General. Still, Manhattan Surrogate’s Court…

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Fraudulent Conveyances and Your Estate

It is well known that Ontario testators enjoy the freedom to distribute their estates as they wish (provided their statutory obligations are met); however, the recent case of RBC v. Scarborough, 2019 ONSC 3369, reminds readers to be cognizant of the impact of debts and liabilities upon those who may…

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The Jeffrey Epstein “Plot” Thickens…Last Will and Testament Signed 2 Days Prior to Death!

Jeffrey Epstein (“Epstein”) signed a will just 2 days before he was found dead in his jail cell, raising new queries about his final days inside the Manhattan Correctional Centre, where he was awaiting trial on federal sex trafficking and conspiracy charges. This new development adds to what is likely…

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Changes to a Trust Agreement

The Canada Revenue Agency recently responded to a ruling request as to whether or not a proposed amendment to a trust agreement could be so significant to cause a resettlement of the trust, or a disposition of a beneficiary’s interest in the trust Before the enactment of variation of trusts…

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Trusts and Trust Resettlements – Variations and Circumstances

Variation(s) of a trust agreement, after it is settled, does carry the risk of causing a resettlement of a trust or a disposition of a beneficiary’s interest in the trust, with serious tax consequences. But not all variations lead to resettlement, fortunately. Recently in an advance ruling, the Canada revenue…

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