Fasken

Does a Grantor have the Capacity to plan their Incapacity?

Fasken • March 24, 2023 • 0 Comments

This blog has been written by Mohena Singh, Associate at Fasken LLP As estate planners, one of the most important aspects of our job is to discuss incapacity planning with our clients. Mental incapacity has become a social, health and legal challenge that affects a surprising number of Canada’s senior citizens. According to Statistics Canada, by 2068 it is projected that over 20% of Canadians will be over the age….

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Capacity Law, Caregiving, Estate Planning, Uncategorized

Considerations when Administering a Canadian Estate with US Situs Assets

Fasken • March 17, 2023 • 0 Comments

Today’s blog is written by Jessica J. Butler, Law Clerk at Fasken LLP. As today’s world continues to grow increasingly interconnected, more estate professionals find themselves dealing with a web of cross-border assets and jurisdictional issues. This post considers certain issues that you might face when administering a Canadian estate with assets situated in the United States. Legal Authority You must first determine whether you will need legal authority to….

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Canadian and US Tax Treaty, Estate Administration, International, IRS, Probate Tax, Tax Issues, United States, US Taxes, Wills

Intestacy 101

Fasken • March 10, 2023 • 0 Comments

Today’s blog was written by Courtney Lanthier, Law Clerk at Fasken LLP. People in our profession often cringe when they hear the words “they died without a Will”, because as soon as we do, we can almost always envision problems arising. Unfortunately, it has become more and more common to hear that someone doesn’t have a Will. A Will provides clear instructions as to how to handle assets on someone’s….

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Estate Administration

Atypical Asset Administration (Part 1)

Fasken • March 3, 2023 • 1 Comment

This blog has been written by Sandra Arsenault, Law Clerk at Fasken LLP Picture this: you are an executor cleaning out your mother’s apartment. Under the bed you unexpectedly find five (5) handguns and a hand grenade. Do you (a) call the police, (b) secure the items somewhere safe until you can find someone who knows what to do with them, or (c) put them in a plastic shopping bag….

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Estate Administration, Estate Planning, Executors, Wills

Revisiting the importance of language when using multiple wills

Fasken • February 17, 2023 • 1 Comment

This blog contributed by Mohena Singh, Associate @ Fasken LLP A long-time practice of estate planners has been preparing multiple wills for clients to minimize the amount of estate administration tax an estate must pay. The general idea of a primary and secondary will is to exclude property that does not require probate from the primary will so that the total value of assets requiring probate is reduced. However, if….

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Credibility, Estate Planning, Executors, Property, Real Estate, Succession Planning, Uncategorized, Wills

Certain Recurring Tax and Estate Planning Questions from New Canadians

Fasken • January 13, 2023 • 0 Comments

Today’s blog post was written by Rahul Sharma, Partner, Fasken Martineau DuMoulin LLP, Toronto According to a recent article in the Globe and Mail, Canada added more than 437,000 new permanent residents last year, while the federal government intends to admit 1.45 million more new permanent residents over the next three years. These are considerable figures for a country whose population currently stands at just above 39 million inhabitants. New….

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Uncategorized