Gowling WLG LLP

Total 48 Posts

 Website

Can insurers insist on probate to release life insurance funds?

• • 0 Comments

Written by Kelsey Buchmayer, associate with the Ottawa office of Gowling WLG (Canada) LLP An insurer should not necessarily require a probated Will to release the proceeds of a life insurance policy. Section 203 of the Insurance Act[1] sets out that upon receipt of “sufficient evidence”, an insurance company should pay the insurance money to the person entitled thereto, and within thirty days of receiving the evidence: 203 (1) Where an….

Can insurers insist on probate to release life insurance funds? Continue Reading »

Estate Administration, Estate Administration and Probate Applications, Insurance

Account! Account! Account!

• • 0 Comments

Anna Chen, associate Gowling WLG (Canada) LLP The importance of a fiduciary (whether a trustee, an attorney for property or an estate trustee) to keep proper books of account cannot be understated.  This is an obligation required of the fiduciary to prove he or she administered the trust, property or estate prudently and honestly.  The importance of keeping accounts and the consequence of not doing so have been addressed again….

Account! Account! Account! Continue Reading »

Passing Of Trustees’ and Executors’ Accounts, POA Compensation, Power of Attorney

Inflation factor in hotchpot

• • 0 Comments

Today’s blog was written by Kelsey Buchmayer, associate with the Ottawa office of Gowling WLG (Canada) LLP Including an inflation adjustment clause in a Will where the circumstances so warrant can help with achieving fairness. The fairness can be as simple as ensuring monetary values expressed in a Will are brought up to the real dollar value as at the date of death using an inflation factor. A less obvious….

Inflation factor in hotchpot Continue Reading »

Wills

To Be or Not to Be a Spouse: A Follow-Up on Enns V The King

• • 1 Comment

Maddi Thomas, associate, and Donya Ashnaei, articling student, Gowling WLG (Canada) LLP Background I wrote a blog post on Enns v the King, 2023 TCC 28, last year. This case was significant for estate planners, as the ruling extended the Canada Revenue Agency’s (“CRA”) reach under section 160 of the Income Tax Act (the “Act”). A little over a week ago, the Federal Court of Appeal (“FCA”) overturned the TCC’s….

To Be or Not to Be a Spouse: A Follow-Up on Enns V The King Continue Reading »

Appeals, Spouse, Succession Planning, Tax Issues

TAX CONSIDERATIONS FOR GIFTS OF SHARES IN CANADA

• • 1 Comment

Gwenyth Stadig, Natasha Barrett, Upama Poudyal, Abdullah Khalid, Amber LeBlanc all of Gowling WLG (Canada) LLP Canadian donors can donate a variety of types of property to “qualified donees” which gift can be eligible for donation tax credits. Subsection 149.1(1) of the Income Tax Act (“ITA”) defines the term “qualified donee” (“QD”) to include Canadian registered charities. The Canada Revenue Agency (“CRA”) maintains a list of QDs here. The nature….

TAX CONSIDERATIONS FOR GIFTS OF SHARES IN CANADA Continue Reading »

Canada Revenue Agency, Charitable Giving, Estate Donations, Interest, International, Investments, IRS

Nuances with registered plans: Things to remember

• • 0 Comments

Today’s blog was written by Kelsey Buchmayer, associate with the Ottawa office of Gowling WLG (Canada) LLP Registered plans are an important factor to consider in an individual’s estate planning, whether it’s from a tax-planning perspective, bypassing probate and probate fees, or distributing assets in a specific manner. There are however some nuances when it comes to registered plans that should be kept in mind. Appointing a Successor Holder for….

Nuances with registered plans: Things to remember Continue Reading »

Succession Planning, Tax Issues
Scroll to Top