Take the case of Estate of Ronald Alfred Craymer v Hayward et al, 2019 ONSC 4600, The Craymers were married in the 1980’s. It was a second marriage for Mrs. Craymer and a fourth marriage for Mr. Craymer. At the time of their marriage, Mrs. Craymer had three adult children…
Category: Liability
Total 31 Posts
Estate trustees be warned: you may be held personally liable for failure to pay the estate’s taxes and/or the tax arrears of the deceased. When estate trustees are advised of this fact by their lawyers, pains are taken to soften the blow. CRA tends to be more blunt. Following the…
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…
Conflicting Limitation Periods In Ontario, as in other Canadian jurisdictions, various statutes establish limitation periods within which an injured party can commence a claim against a wrongdoer, including against the estate of a deceased wrongdoer. Under sections 4 and 5 of the Limitations Act, 2002, S.O. 2002, c. 24 ,…
Claims against solicitors for negligence often arise in the context of estates cases, whether it be the failure of a lawyer to ensure that a testator’s wishes are accurately reflected in his/her will, to neglecting to confirm the testator had the requisite capacity and was not subject to undue influence…
Recently the Government of Ontario followed the heels of the British Columbia Government by introducing a “non-resident speculation tax” (“NRST”). The NRST will apply to the purchase or acquisition of an interest in residential property located in the Greater Golden Horseshoe (the “GGH”) by individuals who are not Canadian citizens…
The recent Court of Appeal (“ONCA”) decision of Meehan v. Good, 2017 ONCA 103 (“Meehan”), reminds lawyers that the duty of care owed to their clients is extensive, and may operate beyond a limited-scope retainer. In Meehan, the plaintiffs, Michael and Anne Meehan, brought a claim against their lawyer, John…
LATE FILED ELECTION TO SPLIT PENSION INCOME
By Steven Frye •
November 1, 2016
While we are on the subject of joint elections to split pension income in the year of death: What if, as trustee of the estate, you discover that the deceased and his spouse did not split eligible pension income in the years prior to his year of death. Can you…
CAPITAL DIVIDEND ACCOUNT ELECTIONS AND THE DATE GONE WRONG?
By Steven Frye •
September 6, 2016
As I mentioned in a previous blog, the capital dividend account (“CDA”) is often a central feature of tax planning for individuals with private corporations with the opportunity to make tax-free distributions to shareholders on the disposition of certain capital assets. It gains particular focus in estate planning scenarios and…
PRINCIPAL RESIDENCE EXEMPTION AND BENEFICIAL OWNERSHIP – AN UPDATE
By Steven Frye •
July 12, 2016
We know that if a property qualifies as a principal residence, an exemption can be claimed to reduce or eliminate any capital gain otherwise realized on the disposition of the property. Under the Income Tax Act, one of the requirements for a property to qualify as a taxpayer’s principal residence…