Supreme Court of Canada Orders Unsealing of Sherman Probate Files

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On June 11, 2021, the Supreme Court of Canada released its highly anticipated decision in Sherman Estate v. Donovan. Background The facts of the case have been widely publicized. Barry and Honey Sherman, a prominent couple, were found dead in their home in December 2017. Their deaths, treated as homicides, remain unsolved. The estate trustees of their estates sought sealing orders in respect of the probate applications. The sealing orders….

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Uncategorized

Company purification – don’t take the short-cut

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If a business is successful, it will eventually have excess cash retained in the company that is not necessary for the operations of the business.  Two options for this cash is to distribute the excess to the shareholder(s) as a dividend, but that would result in personal tax being paid by the shareholder on the dividend or the company can simply retain the excess cash and invest it in non-business-related….

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Tax Issues

Yesterday I watched the US Open & Thought About My Dad:

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 It does seem like only yesterday because, while time has not stood still, sometimes our sentiments don’t change. The event and message is the same. It is a few years later and there is a new US golf champion. We still however miss those who are no longer around. It was hard not to know that yesterday was Father’s Day. Signs, announcements and broadcasters made it very difficult not to….

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Caregiving

Row Row Row Your Boat!

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Today’s blog deals with the transfer of the ownership and license of pleasure crafts to a named beneficiary in a Will. Before I get into the process of transferring the ownership and license of a pleasure craft registered in the Canadian Register of Vessels (Please note: not all pleasure crafts are required to be registered.), it is important to understand what the term “pleasure craft” means and the process to….

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Uncategorized

How the ‘Hotchpot Clause’ Lost its Groove: the marriage settlement trust and myth of women’s legal disabilities

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What is Hotchpot? In estates law, “hotchpot” is a legal term of art.[1] It is an umbrella term that covers a few related concepts (e.g., a hotchpot clause, common law presumptions of hotchpot, intestacy legislation on the same). In essence, the purpose of hotchpot is to prevent one beneficiary from receiving more his intended share. It does so by taking into account of all prior advances and testamentary gifts. For….

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Estate Planning, Interest, Uncategorized, Wills

Joint accounts – continued

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Several years ago, I wrote about probate planning involving the use of joint accounts. At the time, my father-in-law had just passed away and my mother-in-law, who survived him, was intent on paying the least amount of Estate Administration Tax (EAT). Jointly held property with a spouse or with one or more children, with a right of survivorship may not form part of the deceased’s estate and may be effective….

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Estate Administration and Probate Applications, Estate Planning, Executors, Family Conflict, Investments, Joint Tenancy, Probate Tax, Trustee, Trusts, Uncategorized, Wills
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