Considerations When Trustees are Involved in Transactions

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Approaching year end, you increasingly may be fielding calls from corporate lawyer peers who are closing transactions in which trusts are involved. For example, trusts may be direct vendors or sellers, or, perhaps HoldCos are the sellers, but one or more trusts own the shares of the HoldCos.  This blog will explore some (but not all) considerations that are relevant when trusts are involved in a transaction. High Level Considerations….

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Estate Planning, Trustee, Trusts

Investing Prudently in Trusts for Dependents with Disabilities

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Like so many other things, continuing care and living costs are on the rise. Whether you are a Henson Trust Trustee or a Discretionary Inheritance Trust Trustee, the onus to prudently manage investments is more crucial than ever. It is also imperative that investment plans fit the circumstances of the beneficiary in order to maximize investment value. That being the case, a Trustee for a Henson Trust is called upon….

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Beneficial ownership reporting for trusts – the uncertainty is almost here!

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The beneficial ownership reporting for trusts (BORT) rules, originally announced in the 2018 Federal Budget on February 27, 2018, has made its way into the House of Commons. The original draft legislation released by Department of Finance on July 27, 2018 was updated on February 4th and on August 9th of 2022. This final update of the BORT draft legislation is now included in the 172 pages of Bill C-32[1]….

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Canada Revenue Agency, Estate Administration, Tax Issues, Trusts

Please Pass the Gravy

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Reposted as timeless advice: Now that border crossings have opened, many families will be traveling this week for the American Thanksgiving holiday. If you live in a different city than your parents, the time spent together during the holiday can allow you to see how well they are managing. Be aware of the small things and things that are different. For example, are you noticing weight loss, balance issues, is….

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Caregiving

ELDER ABUSE: A GROWING PROBLEM IN AN AGING POPULATION

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Today’s blog is co-written by Jennifer Campbell and Sandra Arsenault, Senior Law Clerks in the Private Client Services Group at Fasken. At the beginning of November, we were fortunate enough to attend the Institute of Law Clerks of Ontario (ILCO) annual conference in Niagara-on-the-Lake.  This conference brings together law clerks and paralegals working in various areas of law.  It is a great opportunity to network with colleagues you have not….

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Capacity Law, Elder Care, Elder Law, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Estate Planning, Executors, Family Conflict, Geriatric Care Management, In the News, Joint Tenancy, Power of Attorney, Undue influence, Wills

Direct Designation Estate Donations

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A direct designation gift of RRIF or life insurance proceeds is an estate donation, but lawyers and executors have little or no role to play. Normal procedural and disclosure rules don’t apply. How do charities ensure they receive their intended gift? How does the estate receive its tax receipt? Direct Designation Donations Deemed or direct designation gifts were introduced in the Income Tax Act in 2000 to address a fairness….

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