It’s that time of year again – the holidays are coming to a close. As the festivities wind up, the new year brings a promise of renewal and a fresh start. Many people take the opportunity at this time of year to take stock of their lives, and their goals for the upcoming year. Often, these goals are financially-based, whether it’s saving more money, paying down debt, or just “getting….
New Year, New Estate Plan Continue Reading »
Estate PlanningOn November 15th, the Provincial Government released the Fall Economic Statement, and its accompanying implementation Bill. Bill 57, Restoring Trust, Transparency and Accountability Act, 2018,[1] contains 45 schedules, each relating to amendments to a different statute. Buried in Bill 57, in a single line of Schedule 33, is an interesting amendment to the Pension Benefits Act: New section 30.1.1 is added to the Act to allow for electronic designation of….
Last week, I discussed some of the risks for a professional advisor that may arise in the administration of the estate that are associated with the assets of the estate. This week’s blog considers risks which arise from the beneficiaries (or would-be beneficiaries) of the estate, as well as steps the professional advisor can take to mitigate the risks associated with being appointed as executor of an estate. [1] Interpersonal….
The Advisor as Executor: Risks and Rewards Part 2 Continue Reading »
ExecutorsIntroduction [1] It is not uncommon for a client to ask a professional advisor to act as his or her executor. For the advisor, this request may be an honour, as it speaks to the level of trust the client has in the advisor’s professional knowledge and judgment. The appointment may also be lucrative for an advisor: clients may agree that the advisor should be compensated from their estate by….
The Advisor as Executor: Risks and Rewards Continue Reading »
UncategorizedBy: Giancarlo Mignardi, Summer Law Student Two years later and, given the absence of any further noteworthy cases on point, including a Supreme Court decision, this blogger believes that further discussion about discriminatory wills is warranted. In Spence v BMO Trust Company,[1] the Ontario Court of Appeal (“ONCA”) delivered a strong statement in support of testamentary freedom by concluding that: (1) it is not open to courts of construction….
Guest written by Jessica Nolan, student-at-law at Fasken. A recent case out of British Columbia offers a number of lessons for estate planning. Robledano v. Jacinto (2018 BCSC 152) involved the estate of Barbara Jacinto who died unexpectedly. Barbara had been in a relationship with Maria Robledano on and off for just over 30 years. In the final years before Barbara’s death, they were primarily living under separate roofs but….
