Atypical Asset Administration (Part 1)

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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

Professional Advice is Key: Part 2 Pipeline Planning

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This blog was written by: Craig Coulson, Senior Trust Officer Many professional estate administrators emphasize the emotional toll and time-consuming steps that are reduced or eliminated when a corporate executor is named in one’s will. Sometimes, beneficiaries may be unhappy with corporate executor fees, perhaps thinking if only they were appointed, they would save the estate the cost of administration. What is not frequently mentioned is how the appointment of….

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Adding New Parties to An Existing Litigation?

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Joinder In the world of estate law, litigation is often unavoidable. Sometimes, facts and players will emerge after the initial pleadings stage, i.e., after litigation has already begun. In that case, a notice of application or statement of claim must be amended to add further respondents who are not already part of the litigation. This addition of new parties is also called “joinder”. Joinder is addressed under Rule 26.01 and….

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Contested wills, Estate Litigation, Trustee Disputes, Uncategorized

Frontotemporal Dementia

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While we all may be aware of the dementia crisis that is increasingly heading our way, it often takes a celebrity to truly raise the issue and increase our general awareness levels. I am referring to FTD or frontotemporal dementia and Bruce Willis’ recent diagnosis. Dementia is a syndrome describing a series of symptoms including memory loss, loss of judgement and language, problem-solving and other processing abilities that are severe….

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Disability, In the News

It’s That “Tax Talk” Time of Year….Again

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As the calendar rolls into March and tax slips arrive in the mail, I thought that I would remind blog readers about a provision in the Income Tax Act (the “ITA”) that I think is one of the more insidious ones, namely the so-called “corporate attribution rule” in subsection 74.4 of the ITA. The corporate attribution rule is unlike most other attribution rules in the ITA in that it does….

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Tax Issues

Professional Advice is Key When Administering Estates with a Corporate Component Part 1: Loss Carryback Strategy

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This blog was written by: Craig Coulson, Senior Trust Officer Many professional estate administrators emphasize the emotional toll and time-consuming steps that are reduced or eliminated when a corporate executor is named in one’s will. Sometimes, beneficiaries may be unhappy with corporate executor fees, perhaps thinking if only they were appointed, they would save the estate the cost of administration. What is not frequently mentioned, is how the appointment of….

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