HOW TO TRANSFER SHAREHOLDINGS HELD IN PAPER FORM OR THE DIRECT REGISTRATION SYSTEM WHEN ADMINISTERING AN ESTATE

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Going through the records of a deceased person is an important task for the executor and can be a huge undertaking, particularly when the individual held on to everything. Sometimes, a search of the deceased’s records reveals surprising new assets. What should an executor do when they discover evidence that the deceased held shareholdings in a public company in the form of share certificates? It has become less common to….

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Estate Administration, Estate Administration and Probate Applications, Executors, Investments

Charitable purposes and estate donations

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Estate planning is an exercise in time travel.  It is impossible to predict the future, especially when the time gap between planning and death is often decades.  Fast forward 25 years, a charity may not exist when the estate is distributed. Charity law identified this problem and a solution to it over 500 years ago. The solution is the charitable purpose in a charitable trust.  In trust law there are “object trusts” that….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized

Gefen Estate v. Gefen

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The Ontario Court of Appeal (“ONCA”) decision in Gefen Estate v. Gefen is an interesting read which provides insight into a variety of topics including mutual wills and mutual will agreements, secret trusts, the doctrine of unconscionable procurement, and more! By way of background, Elias and Henia Gefen were married for 65 years. They were Holocaust survivors who came to Canada in 1951. They had three sons: Harvey, Harry, and….

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Appeals, Capacity Law, Estate Administration, Estate Litigation, Family Conflict, Joint Tenancy, Power of Attorney, Real Estate, Testamentary Capacity, Uncategorized, Undue influence, Wills

Intergenerational business transfers

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Since the introduction of the draft legislation for intergenerational business transfers (IBT) on March 28, 2023, the National tax services team at Baker Tilly Canada has reviewed the IBT rules in detail.  For a convenient summary of the proposed IBT rules, please refer to the following document prepared by the team – Genuine intergenerational transfers – comparison of the rules.  The objective of this blog is to provide an analysis….

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Business Succession Planning, Estate Planning, Succession Planning

Loneliness And Social Isolation Declared a Public Health Crisis

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a blue wooden chess piece lies on its side amidst similar pieces that are standing up and a different colour

US Surgeon General Vivek Murthy made headlines last week by declaring an “epidemic of loneliness.” He warned that loneliness is associated with “a greater risk of cardiovascular disease, dementia, stroke, depression, anxiety, and premature death.” This statement is the first time a Surgeon General has used their national advocacy platform to raise loneliness to the same warning level as smoking, obesity, and the opioid crisis. Several commentators pointed out that….

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Elder Management, Smart Ageing

Analog Art, Analog Assets

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For my last blog post, I discussed the potential financial value of an individual’s “personalty” and clauses in wills governing such personalty. While an individual’s more traditional assets may include bank accounts, real estate or vehicles, there may also be some other personal items (e.g. collections) that may have significant financial value for an estate. I’d like to discuss “physical” assets a bit more, this time focusing on assets they….

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Estate Administration, Estate Planning, Uncategorized, valuation
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