All About Estates

Category: Trusts

Total 114 Posts

Secret and Semi-Secret Trusts: An Unusual Approach to Testamentary Dispositions – Part II

Guest written by Giancarlo Mignardi, Student-at-Law at Fasken Martineau DuMoulin LLP Last week, I provided an overview of secret and semi-secret trusts, as well as the legal framework that allows for their existence. Today, I will discuss some of the practical uses of such trusts in modern estate-planning, as well…

Continue Reading

Fiduciary Investing Series – Fun, fun, funds

This blog has been written by Robert Boyd, Director, Scotiatrust. Mutual Funds, Hedge Funds and Exchange Traded Funds (ETFs) are all well known to the general public and reasonably well understood investment vehicles, however there is a trust specific fund that has fallen out of favour in recent years, somewhat…

Continue Reading

Secret and Semi-Secret Trusts: An Unusual Approach to Testamentary Dispositions – Part I

Guest written by Giancarlo Mignardi, Student-at-Law at Fasken Martineau DuMoulin LLP When we think about testamentary gifts, we typically think of outright gifts, and testamentary trusts, both of which are typically set out in the terms of a Will. However, there is another, lesser-known option: the secret (and semi-secret) trust….

Continue Reading

Transferring Wealth During Your Lifetime

I was reading recently that approximately $30-trillion in assets will be shifting from one generation to the next across North America in the next few decades, according to consulting firm Accenture. A couple of years ago, I wrote about gifting cash or assets during one’s lifetime as an alternative method…

Continue Reading

Charitable Gifts from Alter Ego Trusts

In Canada we do not have an estate tax. Rather, when an individual dies the individual is deemed to have disposed of his or her capital property immediately before death at fair market value. The deemed disposition triggers the realization of any accrued but unrealized capital gains. As a result,…

Continue Reading

Resulting Trusts and Summary Judgment Motions

With its sandy beaches, hiking trails, canoe routes, and wildlife, the Town of Wasaga Beach is a well-loved Ontario vacation destination. However, no town, however idyllic, is immune to lengthy property disputes, especially when the two people fighting are related to each other. Brother A and Brother B were at…

Continue Reading

DEEMED TRUST: TAX DEBTS AND PROCEEDS OF INSURANCE

In Canada (A.G.) v Nortip Development 2019 NLCA 34, a company fell behind in remitting payroll withholdings and related amounts for several periods over a two-year period to the Canada Revenue Agency (“CRA”). Around the same time, a property with a mortgage owned by the same company, was destroyed by…

Continue Reading

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…

Continue Reading

Tenancy and Equitable Ownership – You Can Have it All!

Can you be a tenant and an equitable owner of a property? Absolutely! Read how you can have it all in Warraich v Choudhry et al, 2019 ONSC 2656. In March 2012, Choudhry purchased a property for $519,000.00. In April 2012, Warraich, one of Choudhry’s friends, moved into the property…

Continue Reading

Estate Planning, Trusts, and Family Law

Inter vivos trusts are often used in the estate planning process to manage and preserve family wealth across generations. Within that broad framework, such trusts are used for a variety of reasons. Parents or grandparents may want to establish a vehicle for funding the education costs of future generations. A…

Continue Reading