This blog has been written by Darren Lund a partner at Fasken LLP. Marriage contracts and cohabitation agreements are an increasingly important aspect of estate planning and wealth preservation. They can be used for a number of reasons and in a variety of contexts. Think of the parents wishing to…
Category: Property
Total 124 Posts
When a trust makes a capital distribution to a non-resident beneficiary, the beneficiary is deemed to have disposed of a part or the whole of their capital interest in the trust.[2] Where the capital interest in the trust is “taxable Canadian property” (“TCP”),[3] the vendor of the TCP (i.e. the beneficiary who is deemed to be “disposing” of their interest in the trust) must apply for a clearance certificate from the Canada Revenue Agency (the “CRA”) under section 116, either in advance of the disposition or within 10 days of the disposition.
It is important to consider estate planning objectives when entering into real estate transactions. For example, a client may intend to retain control of real property in that they intend to be able to dispose of it on death. However, if the relevant estate planning objectives are not identified and…
In the ever-evolving landscape of Canadian law, the donation of genetic material presents a complex and multifaceted challenge both in the case of inter vivos donations and posthumous ones. The intersection of property rights, consent, and privacy in this context is not only legally intricate but also laden with ethical…
Families often fall into patterns and routines; they are comfortable, stable, and predictable. They can also give rise to legal rights over land. The extent and enforceability of those rights is often put to the test following death or divorce. Such was the case in Tomek v Zabukovec, 2020 ONSC…
Today’s blog is written by Jessica J. Butler, Law Clerk at Fasken LLP. The world of wills and estates is a complex one, and it can be easy to lose sight of the bigger picture. A refresh of keystone practice elements can help remind us to see the forest through…
While the right of survivorship is often thought of as the defining characteristic of joint tenancy, joint tenancy is also defined by “four unities.” Justice Perell succinctly defined the “four unities” in Royal & SunAlliance Insurance Company v Muir, 2011 ONSC 2273: A joint tenancy is distinguished by what are…
As we turn the corner from winter to spring, we also enter into another important time of year: wedding season. With the start of this season, estate planners should remind themselves, and their clients, of a few of the critical intersections between family law and estate law that specifically impact…
This blog contributed by Mohena Singh, Associate @ Fasken LLP A long-time practice of estate planners has been preparing multiple wills for clients to minimize the amount of estate administration tax an estate must pay. The general idea of a primary and secondary will is to exclude property that does…
Overview The Ontario government has enabled municipalities to enact a tax on vacant residential units in their regions (Granted under Part IX.1 of the Municipal Act).[1] Each municipality has to pass a By-Law stating the tax rate and conditions of vacancy that, if met, make a property subject to…