Reaffirming the Status Quo of Beneficial Designations: the saga of Calmusky v. Calmusky continued

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The Rippling Effects of Calmusky v. Calmusky In March of 2020, Lococo J.’s decision in Calmusky v. Calmusky made waves in Ontario’s legal community. (For this reason, it was included in our top 20 estate law cases of 2020. An excellent summary and analysis of that decision by my colleague Demetre Vasilounis can be found here). By applying the law on the presumption of resulting trust to an RIF, Lococo….

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Estate Administration and Probate Applications, Estate Litigation, Estate Planning, Resulting Trust, Succession Planning

Charitable remainder trusts: what are they and when are they useful?

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A charitable remainder trust (CRT), although not widely used in Canada, can be a useful charitable giving tool that generates an immediate tax credit for the donor. In an inter vivos context, an individual establishes an alter ego trust and transfers property to the trust on a tax-deferred basis. The trust holds the property for the benefit of the individual during the individual’s lifetime, entitling the individual to the trust’s income but….

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Canada Revenue Agency, Charitable Giving, Estate Donations, Estate Planning, Tax Issues, Wills

“If You See Something, Say Something”*

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Do you have a ‘TCP’? While I am not a fan of using acronyms, ‘TCP’I is one you want to know.  It is shortform for ‘Trusted Contact Person’. “The Canadian Securities Administrators (CSA) announced July 15 that regulators are adopting amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations, which require advisors to collect the name and contact information of a trusted contact person (TCP), along with the client’s written….

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Elder Care, Undue influence

Proclamation of the ONCA – October 19, 2021

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Today’s blog was written with the assistance of Mahsa Pezeshki, a law clerk at Fasken LLP   On August 17th the Ontario government announced that the Ontario Business Registry (OBR) will be launched on October 19, 2021 and The Ontario Not-for-Profit Corporations Act (ONCA) will also be proclaimed into force on the same day. The ONCA received Royal Assent on October 25, 2010 but cannot be brought into force until….

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Charitable Giving

How long is perpetuity?

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  [caption id="attachment_16267" align="aligncenter" width="700"] Basilica of Maxentius and Constantine, Rome   Credit: David’s Been Here[/caption]   “Is perpetuity 21 years?”, asked a charity colleague.  “Well, no, it’s forever.  Or until the end of time, or as long as we collectively exist,” I answered. Despite my emphatic response, the question is a good one because it underscores the inherent meaninglessness of the phrase “in perpetuity” in relation to charitable donations, trusts….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving

Estate Trustees and Irreconcilable Conflicts

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In the recent decision of Lagrandeur Estate (Re), the Court considered when an estate trustee can be ‘passed over’ due to a conflict of interest. Facts Keisha Lagrandeur (“Keisha”) died on December 6, 2019, aged 41. Keisha had two boys aged 19 and 17 with her married spouse Gaetan Lagrandeur (“Gaetan”). At the time of Keisha’s death, she and Gaetan had been separated for five years, but their divorce had….

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