May 2024

Indemnification of Estate Trustees and Blended Costs Awards: A Refresher

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A party needs leave to appeal when it is appealing only a costs decision. Leave was granted in the case of Pletch v. Pletch Estate, 2024 ONSC 1411 (CanLII) (Ont. Div. Crt) (“Pletch Estate”), where an estate trustee was not awarded any costs of the application.  In Pletch Estate the deceased died without a will. He had three children from his first marriage, two of whom were minors, and another….

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Uncategorized

Beneficiary of a U.S. Estate – Now What?

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What are the tax implications if you are a beneficiary of a U.S. estate? Rarely do we consider the implications of a Canadian resident inheriting from a U.S. estate. From a Canadian Tax Perspective The general rule is the Canadian beneficiary shall receive their inheritance tax-free since the U.S. estate is deemed to have acquired the assets at fair market value (i.e. cost-base step-up). Further, if the executor is a….

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Estate Planning, International, Succession Planning, Tax Issues, Trusts, United States

There’s a New Form for That – Form 74G Renunciation and Consent

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It seems as though the estate court forms and court rules are always changing. It is important to be aware of these changes when filing probate applications in Ontario. Today’s blog will explore the new Form 74G Renunciation and Consent, and provide some practical tips and considerations to help navigate this recently introduced form. Form 74G Renunciation and Consent As of April 1, 2024, new Form 74G Renunciation and Consent….

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Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Trustee, Wills

Fair and Transparent Granting

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A hot topic among charities is anonymous grants from foundations with donor advised funds.  Charities receive grants but they often don’t know the identity of the donor or fund that recommended the grant. This prevents the charity from saying thank you and stewarding the donor.  Unfortunately, there is deep charity frustration.  It is an important for both foundations and charities to work together to make the process better. Pandemic Upheaval….

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Philanthropy/Charitable Giving

The Role of Dockets in the Fight For Costs

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Section 131 of the Courts of Justice Act, RSO 1990, c C.43, grants the court wide discretion to make an award of costs of a proceeding (or for any particular step in the proceeding). Sub-rule 57.01 of the Rules of Civil Procedure, RRO 1990, Reg 194, sets out the factors a court will consider when exercising its discretion to award costs. The Court of Appeal for Ontario provided further guidance….

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Costs

Breaking Up is Still Hard to Do?

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This blog has been written by Rahul Sharma, Partner, Fasken Martineau DuMoulin LLP, Toronto Nearly a year ago, I made a post on this blog entitled “Breaking Up is Hard to Do – Ceasing to be a Canadian Tax Resident may be Easier Said than Done” (Breaking Up is Hard to Do – Ceasing to be a Canadian Tax Resident may be Easier Said than Done – All About Estates). ….

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Canada Revenue Agency, Estate Planning, In the News, Investments, Succession Planning, Tax Issues
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