All About Estates

Category: Trustee

Total 66 Posts

Undue Influence by “Unwitting Proxy”

Undue influence results in benefits to a beneficiary/donee which would not have occurred except for the undue influence imposed by the beneficiary/donee upon the testator/donor. Undue influence can be conceptualized into two distinct types: (1) “actual” undue influence and (2) “presumed” undue influence. Actual undue influence is concerned with coercive…

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Estate Trustees and Costs of Litigation: Try not to take it personally?

In the work I do, I am asked to provide expert testimony to support litigation. In some cases, I am often quite surprised to what extent parties will continue to litigate matters that appear to be “no-wins” or for small dollar amounts. Depending on the circumstances, parties have taken the…

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The Wild West of Beneficial Ownership

This Blog was written by: Peter Meitanis WANTED: The Beneficial Owners of Real Estate in British Columbia If you’re a fan of movies about the Wild West, you’ll know that many plotlines revolve around a mysterious stranger coming to town. But in British Columbia, the mysterious strangers aren’t riding into…

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TFSA’s and Residency

Recently, one of my blog colleagues wrote on the residency rules regarding tax free saving accounts (TFSA’s). Generally, as an owner of TFSA, if you leave Canada, the accumulated funds may remain in the TFSA without Canadian tax consequences. You can’t make any further contributions but you can make withdrawals….

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TRUST REPORTING: NEW REQUIREMENTS COMING SOON!

Under the current rules, a trust only needs to file an annual tax return but generally does not need to file the return if it does not earn an income or make any distributions in the year. (Notwithstanding that the Canada Revenue Agency has increased its demand for “nil returns”…

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Gift of securities by executors of a will

The Canada Revenue Agency provided its views regarding the income tax implications of a gift made by executors of an estate of a deceased individual. The taxpayer died in 2016.  His Will named his three sons as equal beneficiaries and co-executors, with no designation of amounts to be given to…

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To vary or not to vary

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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Medical assistance in dying

The Canada Revenue Agency (CRA) was asked whether medical assistance in dying would be considered a medical service for the purpose of the medical expense tax credit (METC).  Not surprising, their answer was yes. In their view, the services for medical assistance in dying are medical services for the purpose…

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Buying the (Family) Farm?

This blog was co-authored with Ronald Neal, student-at-law. John the Farmer wanted to buy the family farm after his mother died. His siblings wanted to sell it on the open market. In Janicek v. Janicek, 2018 ONSC 681, the court had to decide which outcome the will dictated. Background The…

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No Good Deed Goes Unpunished

The phrase “No good deed goes unpunished” is often attributed to Clara Boothe Luce, an American Dramatist, who was the first American woman appointed to a significant ambassadorial post abroad. Today it is often used to express the idea that beneficial actions often go unappreciated or are met with hostility. …

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