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…
Category: Separation
Total 10 Posts
When I explain to people whom I’m meeting for the first time that I’m a lawyer and that among my areas of practice I draft domestic contracts, I’m often met with a response to the effect of “You mean, like, a pre-nup?” I can confirm that a “pre-nup” is, in…
Counsel faced with responding to frivolous objections to an application for a certificate of appointment of estate trustee may wish to consider rule 25.11 of the Rules of Civil Procedure. Rule 25.11 allows the court to strike out (all or part of) a pleading, without leave to amend, on the…
In Trower v. the Queen, 2019 TCC 77, the Company was privately held by the taxpayer and her spouse (49% and 51% respectively) until the taxpayer ceased to be shareholder in the Fall of 2016, pursuant to a separation agreement between the spouses. The company prepared and filed a T5…
Separation agreements commonly include a requirement that one of the spouses maintains a life insurance policy in favour of the other in order to “secure” support payments (either child support or spousal support). It is equally as common to find out, on the death of the supposedly insured spouse, that…
We often write about the benefits (and some pitfalls) of gifting, before and after death. Personally, when I recommend gifting, I assume that unless there are specific outcomes required to realize on the gift, a gift is exactly that, a gift – something transferred voluntarily without expectation of getting it…
I was traipsing thru some estate journals and articles recently and I stumbled upon the reporting of a recent matrimonial case which gave me pause, and to many practitioners in estate and matrimonial matters, I am sure. Practitioners have long held the view that entitlement to spousal support under most…
Separation and Divorce: Implications[1] In Ontario, there are significant implications when a couple (both common-law and married) separates and when a couple divorces. As more and more couples live in common-law relationships as well as the rate of divorce in this day and age, it is important to consider the…
RRSP transfers after death
By Derek de Gannes •
September 14, 2015
The Canada Revenue Agency (CRA) recently weighed in on the eligibility for a tax-free transfer of registered retirement savings plan (RRSP) to a beneficiary after the death of the annuitant.
Remembering Estate Planning During and After a Separation
By Laura West •
August 25, 2011
The recent endorsement issued by Justice P.C. Hennessy in Makarchuk v. Makarchuk, 2011 ONSC 4633 serves as a reminder of the importance of considering estate planning issues when spouses are separating.