All About Estates

Tag: beneficiary designation

Total 7 Posts

General Revocation Clause in Will was Insufficient to Revoke Beneficiary Designations

In Alger v. Crumb, the Ontario Court of Appeal confirmed that a general revocation clause in a will did not revoke the testator’s TFSA and RRIF beneficiary designations. The Court concluded that under s. 51 and s. 52 of the Succession Law Reform Act (“SLRA”), the beneficiary designations have to be expressly…

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This blog was written by Karen Crellin, Estate and Trust Advisor at MD Private Trust Company which is part of Scotia Wealth Management *Note: This post was written by a Saskatchewan planner with a focus on common law. It is important to seek guidance in your own province to ensure your plan…

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When Does a Class of Beneficiaries Close?

“To my grandchildren…” Sometimes, a testator will leave testamentary gifts to an undefined class of people, rather than to beneficiaries by name. Gifts might be left to “my children” or “my grandchildren” or even “the children of my niece” without any further specifications in the will[1]. This practice raises a…

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Reaffirming the Status Quo of Beneficial Designations: the saga of Calmusky v. Calmusky continued

The Rippling Effects of Calmusky v. Calmusky In March of 2020, Lococo J.’s decision in Calmusky v. Calmusky made waves in Ontario’s legal community. (For this reason, it was included in our top 20 estate law cases of 2020. An excellent summary and analysis of that decision by my colleague…

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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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The Beautiful And Damned (with apologies to F. Scott Fitzgerald)

The breakdown of a marriage or common law relationship can raise a host of complex legal issues both for the living and the dead. One issue that seems to crop up again and again is life insurance proceeds and who should benefit.

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