Wikipedia defines cryptocurrency (or crypto currency) as a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized digital currency and central…
Category: Estate Administration
Total 257 Posts
Today’s blog was written by guest bloggers, Tracy Parkinson and Krista Brown, law clerks in the Private Client Services group of Fasken LLP. It’s hard to believe that we have been filing Estate Information Returns (the “EIR”) with the Ministry of Finance (the “Ministry”) since January 1, 2015, but if…
Secret and trusts are essentially trust arrangements made between a testator and a trustee, without written disclosure or agreement of the terms of the arrangement, but where an understanding exists between the parties. Based on precedent in case law, the essential elements of a secret trust are: • An intent…
Some losses suffered by the estate due to litigation cannot be recovered.
Today’s blog is being brought to you by guest blogger, Jennifer Campbell, a law clerk in the Private Client Services group of Fasken LLP. The Ontario government has tabled a new Bill that would see a change to various Acts and would look to simplify court matters. Bill 161 –…
Imagine this – You’re a movie director on the independent film circuit. You need to cast the lead in your latest project, but you’ve spent most of your budget on skinny jeans and fair-trade lattes. You’re looking for someone that personifies being disillusioned, while also being super cool. Someone with…
Court of Appeal interpreted an option to purchase a business set out in the deceased’s last will.
The recent case of Novak v. McDougall, (2019 SKQB 261), confirms that when you have accepted an appointment to be trustee, you may not be able to have yourself removed from that appointment without a suitable replacement. The applicant in this case, a beneficiary of a “Henson” trust (basically defined…
This blog was written by Veronique Thomas-Ewen, Associate Estate and Trust Consultant with Scotia Wealth Management In a carefully planned will, the testator names the spouse as the executor, leaves the family residence and residue to that spouse, but directs the family cottage be held in trust. The spouse has…
In Trower v. the Queen, 2019 TCC 77, the Company was privately held by the taxpayer and her spouse (49% and 51% respectively) until the taxpayer ceased to be shareholder in the Fall of 2016, pursuant to a separation agreement between the spouses. The company prepared and filed a T5…