All About Estates

Category: Property

Total 115 Posts

Will The Vacant Home Tax Impact Use of the Principal Residence Exemption; Estate Planning Considerations

  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…

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Valuation of Interests in Discretionary trusts and Family Law

These days, it is quite common to find intergenerational wealth transfer to consist of property held in a discretionary family trust whose beneficiaries may or may not have been in marital relationships at the time of the time the trusts were created. A siginifcant number of legal and financials issues…

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Suspicious Circumstances – For Wills Only

Because the doctrine of suspicious circumstances was developed in respect of probate and wills, it cannot easily be exported into other areas of law, including contract law.

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Can You Sever Joint Tenancy After Death?

Joint tenancy has a lot in common with the TV show Survivor: the goal is to outlast your fellow castaways to win the prize – full ownership of the property. To escape this game show mentality, owners may sever the joint tenancy.

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Digital Assets: Spotlighting Client User Considerations (Part II)

Today’s blog post was written in collaboration with Adele Ambrose – Student-at-Law at Fasken. This is the second part in a two-part blog series that explores the specific client considerations for digital assets in estate planning. In Part I, we took a look at the digital assets landscape in Canada…

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Life Interest or Licence to Use?

A person’s house is often their most valuable assets – both monetarily and emotionally. As a result, testators tend to put a lot of thought into who, and how, they wish to leave their house. However, as is always the case, best laid plans often go awry. One example of this, explored in the 2022 Court of Appeal of Ontario decision Barsoski Estate v Wesley, is when it is unclear whether the will gifts someone with a life interest in the house or a licence to use the property.

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Digital Assets: Spotlighting Client User Considerations (Part I)

Today’s blog post was written in collaboration with Adele Ambrose – Student-at-Law at Fasken. It has become clear that the “wait and see” approach to digital assets and digital currency has now shifted to a need for prudent guidance and action by advisors and institutions. According to CoinMarketCap, the total…

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The Value of Canadian Tire “Money” in Estates

Canadian Tire “money” has been distributed by Canadian Tire stores for almost 65 years. While CT Money is often dismissed, it may be a mistake to ignore the bills as a potential asset of the estate.

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What Happens When a Shareholder Party to a Transaction Becomes Incapable; Powers of Attorney for Property and Due Diligence Tips

This is Part III of my saga on incapacity planning in a corporate context. Part I and Part II can be found respectively at: https://www.allaboutestates.ca/powers-of-attorney-for-property-implications-of-obtaining-a-formal-capacity-assessment/, and https://www.allaboutestates.ca/what-happens-when-a-shareholder-voting-or-a-director-becomes-incapable-powers-of-attorney-for-property-and-shareholder-agreement-drafting-tips/. As a reminder, Part II addressed two situations that we, as estate planners, are commonly asked about: A director becomes incapable – who…

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How much security is enough?

With real estate prices soaring, it’s no surprise that property is often at the heart of estate litigation. Certificates of pending litigation (CPLs) are a common tool used to ensure that a disputed property is not sold before the litigation is resolved. If the parties agree to remove a CPL…

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