Simplifying Estate Vehicle Transfers in Ontario: What You Need to Know

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Today’s blog was written by Jessica Butler, Law Clerk at Fasken LLP. When administering an estate, certain assets frequently come into play: bank accounts, a home, and often, at least one personal vehicle. While a Will typically outlines the transfer of a vehicle to a specific beneficiary, there are instances where the vehicle becomes part of the estate’s residue. There is a wealth of information available online about this topic,….

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Costs, Estate Administration, Executors, Property

Canadians are living longer, Estate Planning considerations

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Canadians are living longer. Current life expectancy is approximately 83 years.[1] This number has been steadily increasing annually and is expected to continue to do so[2]. One of the questions in the trivia game Outsmarted[3] played over the holidays was: “Approximately how many people over the age of 100 live in Canada?” The game’s answer was 11,500. While this number shocked the players, it is in line with what Statistics….

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Estate Planning

The Interpretation of Wills

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Tangled Ropes Photo by Malcolm Burrows

Mohapel v. Young, 2024 ONSC 1332 is a recent case which addresses the issue of will interpretation. The applicant, Iva Mohapel (“Iva”), sought an order that the respondent estate trustee, Doulgas Michael Charles Young (the “ET”), distribute the residue of the estate in four equal shares to her and each of the respondents (children of the deceased). Paragraphs 4(e) and (f) of the deceased’s November 3, 2022 last will and….

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Estate Litigation, Executors, Family Conflict, Uncategorized, Wills

TAX CONSIDERATIONS FOR GIFTS OF SHARES IN CANADA

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Gwenyth Stadig, Natasha Barrett, Upama Poudyal, Abdullah Khalid, Amber LeBlanc all of Gowling WLG (Canada) LLP Canadian donors can donate a variety of types of property to “qualified donees” which gift can be eligible for donation tax credits. Subsection 149.1(1) of the Income Tax Act (“ITA”) defines the term “qualified donee” (“QD”) to include Canadian registered charities. The Canada Revenue Agency (“CRA”) maintains a list of QDs here. The nature….

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Canada Revenue Agency, Charitable Giving, Estate Donations, Interest, International, Investments, IRS

March 2025 Deadline: Veterans, Estates & Survivors May Qualify for Settlement

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Canadian veterans who were receiving disability pension benefits during the twenty years from 2003 to 2023 may be eligible for a class action settlement payment, which is non-taxable. However, it is possible that many survivors or families may be unaware of the settlement and do not know the steps to take to claim a settlement payment before the fast-approaching deadline of March 19, 2025. The Final Settlement Agreement (effective March….

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Smart Ageing

Keeping it Equal – Navigating Loans and Gifts to Children

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Today’s blog was written by Courtney Lanthier, Law Clerk at Fasken LLP With prices of basically everything going up these days, it is becoming more difficult for the younger generations (myself included) to be able to afford most things, including those big ticket items like cars and homes. The sad reality is, while our parents may have been able to afford a home at 25, today that is not always….

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Estate Planning, Loans, Wills
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