Dying Without a Will in Québec, Part 2: Who Settles the Estate When No One Is Named Liquidator?

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Scotiatrust

This blog post was written by: Martine Desrosiers, Estate and Trust Consultant, Scotiatrust Montreal   In Part 1, we examined how intestacy in Québec creates procedural hurdles for minor heirs. Before any of those issues can be addressed, a more fundamental question arises: who is in charge of settling the estate?   When there is no Will, the Civil Code of Québec (CCQ) determines both who inherits and who is….

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Estate Planning, Wills

Hiring Court Experts: A Quick Guide

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As is often the case in civil litigation proceedings, estate and trust litigation relies on expert evidence.  This blog will lay out the general legal framework when it comes to engaging an expert and admitting expert evidence at trial. As an overview, case law collectively establishes that: Expert evidence must be independent, necessary, and properly confined in scope. Counsel may properly interact with experts but must not compromise their independence…..

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Qualified Disability Trusts: Some Positive Commentary from the Canada Revenue Agency

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This blog has been written by Darren G. Lund, Partner at Fasken LLP Each year in June, the Canadian branch of the Society of Estates and Trusts Practitioners holds its annual conference. One of the most eagerly anticipated sessions each year is the “CRA Roundtable”. At the Roundtable, representatives from the Canada Revenue Agency respond to questions submitted in advance by STEP on a range of tax issues of concern….

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Canada Revenue Agency, Disability, Estate Administration, Estate Planning, Tax Issues, Trusts, Wills

Estate Donation Regime at 10 Years

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Ten years ago, in 2016, the introduction of the Graduated Rate Estate (GRE) regime turned Canadian estate planning upside down.  The sidebar to the GRE rules were rules for “estate donations”. These Income Tax Act provisions in Section 118.1(5.1) altered the administrative and tax treatment of gifts by will, as well as direct designation gifts of life insurance, RRSP/RRIFs, and TFSAs. A decade later, how are charities and executors managing?….

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Court Imposes a Trust over RESP Funds

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A recent court case examined whether funds deposited into four RESP accounts were impressed with a trust in favour of the named beneficiaries. In 2017, Hugh Grightmire (“Hugh”) transferred $200,000 to purchase four RESPs, $50,000 per great-grandchild beneficiary (the “Applicant”). Tracey-Lee, Hugh’s daughter and great-aunt of the Applicants (the “Respondent”) was named subscriber and managed the RESP funds.  Hugh died in 2023. When the eldest Applicant started post-secondary education, the….

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Estate Litigation

Life Insurance & U.S. Citizens

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Scotiatrust

When considering life insurance, it’s important to ask: are you a U.S. citizen? The reason for this question is that U.S. citizens who own foreign life insurance policies face a surprisingly complex tax landscape. Unlike domestic policies—which generally enjoy favorable tax deferral and simplified reporting—foreign life insurance contracts (i.e. non-U.S. life insurance) are subject to increased scrutiny, more extensive reporting requirements, and in some cases, U.S. excise taxes. What is….

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Estate Administration, Insurance, Succession Planning, Tax Issues, U.S. Citizen, United States, US Taxes
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