Anti-Lapse Provisions May Also Be Anti-Intent

• • 1 Comment

Today’s blog was written by Demetre Vasilounis, Associate at Fasken LLP. One of the most important things that estate lawyers aim for when drafting a will for their client is to avoid an outcome that is contrary to their client’s testamentary intent. There are many instances where a will is not clear about what will happen when a specific event or sequence of events occurs, and in such instances a….

Anti-Lapse Provisions May Also Be Anti-Intent Continue Reading »

Uncategorized

Avoiding Common Pitfalls with Beneficiary Designations

• • 0 Comments

This blog was written by Isabelle Cadotte – Estate and Trust Consultant with Scotia Wealth Management Beneficiary designations on registered accounts and pension plans (RRSPs, RRIFs, TFSAs, etc.) and life insurance policies are a double-edged sword when it comes to estate planning. They are simple to implement – a designation can be made by Will or with a form supplied by the financial institution or insurance company. They also offer….

Avoiding Common Pitfalls with Beneficiary Designations Continue Reading »

Estate Planning, Uncategorized

Divisional Court Sets Aside Decision Ordering a Passing of Accounts

• • 0 Comments

In Foisey v. Green, the Divisional Court allowed an appeal of the application judge’s decision that set aside a release signed by a beneficiary who was later deemed incapable of managing property. I previously wrote about the earlier  decision that was under appeal. The appellant, Ms. Green, was an estate trustee who administered her brother’s estate.  One of the beneficiaries of the estate was her estranged sister, Ms. Foisey. Ms…..

Divisional Court Sets Aside Decision Ordering a Passing of Accounts Continue Reading »

Elder Law, Estate Administration, Estate Litigation

Attribution under 75(2)

• • 0 Comments

Income attribution rules, generally speaking, operate so that income of one person (the actual recipient of the income) is attributed to and becomes income of another person (the transferor). Whether or not income which is subject to subsection 75(2) is first and foremost income of the trust itself can be significant for how the trust return is prepared and/or whether or not a liability for alternative minimum tax. When questioned,….

Attribution under 75(2) Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Planning, Executors, Tax Issues

Another New Year. Another New Start

• • 0 Comments

Today is the first day of the Jewish New Year, another fresh start for those who celebrate. For many who may not attend synagogue, it may still be recognized and celebrated with family sitting down together for a festive dinner. Traditions continue and are past down from generation to generation. For some it is a favorite recipe that has been shared. For those with dementia, familiar food, song and stories….

Another New Year. Another New Start Continue Reading »

Uncategorized

What is a Discretionary Trust?

• • 0 Comments

Discretionary trusts are a tool used in estate planning to create a flexible trust that provides trustees the discretion to decide who receives the income or capital from the trust and when. The trustees must choose from the class of beneficiaries that are named in the trust, however, none of the beneficiaries have an automatic right to receive proceeds from the trust. There are many benefits to this type of trust and some drawbacks that can be overcome through proper estate planning…..

What is a Discretionary Trust? Continue Reading »

Estate Planning
Scroll to Top