All About Estates

Category: Probate Tax

Total 30 Posts

Administering an Estate: A Marathon of Responsibilities

We had a Zoom call with our adult children a few weekends ago. We talked about our son’s engagement, as our daughter hadn’t yet heard the details of how he had proposed. We also talked about our daughter’s recent 5K run at the Toronto Zoo and how it compared to…

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Joint tenancy: a cost-effective or costly measure to save on probate fees?

This blog has been written by Mohena Singh, Associate at Fasken LLP As an estate planner, one of the most common questions I am asked is, “How do I transfer my house or cottage to my family without paying estate administration tax?” A common way we have seen individuals attempt…

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Considerations when Administering a Canadian Estate with US Situs Assets

Today’s blog is written by Jessica J. Butler, Law Clerk at Fasken LLP. As today’s world continues to grow increasingly interconnected, more estate professionals find themselves dealing with a web of cross-border assets and jurisdictional issues.  This post considers certain issues that you might face when administering a Canadian estate…

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Assessing Drake’s Estate Planning Needs

As a Toronto native, I couldn’t help but listen to rapper Drake’s highly-anticipated new album Certified Lover Boy, which he released just a few weeks ago. In fact, it has been enjoying record-breaking streaming numbers from music fans around the world, amassing a staggering 153 million global Spotify streams in…

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Changing Beneficiary Designations

Changing a beneficiary designation is as simple as writing it down.

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Joint accounts – continued

Several years ago, I wrote about probate planning involving the use of joint accounts. At the time, my father-in-law had just passed away and my mother-in-law, who survived him, was intent on paying the least amount of Estate Administration Tax (EAT). Jointly held property with a spouse or with one…

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The Mysteries of Probate, Revealed

Of all the questions I am asked about the administration of estates, the ones that come up the most frequently are: “what is probate?”; “how do I know if I need probate?”; and “what’s involved in applying for probate?” Herein – the answers.

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Valuing Estate Assets – A Hierarchy of Evidence

Acting as an estate trustee can be a difficult job. It is often made more difficult when you have to work with a sibling. While the types of disputes co-estate trustees can have with one another are seemingly infinite, one common fight is over valuing an estate asset. Valuing estate…

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Multiple Wills Across Civil and Common-Law Systems; Estate Planning That Provides An Advantage To Clients Who Hold Assets In Ontario And Quebec

If structuring an estate plan across different Canadian jurisdictions didn’t raise enough considerations for an estate planner, add a different legal system to the mix, namely, Quebec’s civil law.  This post focuses on the estate-planning advantages available to clients who hold assets both in Ontario and Quebec, specifically the advantage…

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A Presumptive Peril: The Law of Beneficiary Designations is Now in Flux

Calmusky v. Calmusky, 2020 ONSC 1506, is a 2020 decision of the Ontario Superior Court of Justice that is ruffling some feathers among banks, financial advisors and estate planning lawyers in Ontario. In this case, the court applied the principles surrounding the presumption of resulting trust, established by the Supreme Court…

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