This blog post has been written by Darren G. Lund, Partner at Fasken LLP With the holiday season having only recently passed (although in many ways it feels like a long time ago already), I am reminded of how easy it is for news items to get lost in the hustle and bustle of year-end planning and preparations. In the estate planning world, this past year-end contained a welcome development….
Today’s blog was written by Courtney Lanthier, Law Clerk at Fasken LLP. With the colder months approaching, it’s the time of year when people start considering (or re-considering) their estate plan. But when it comes time to sit down and make a Will, people can often become overwhelmed by the complexity of the process. A lot goes into an estate plan that the average person may not consider at the….
In Alger v. Crumb, the Ontario Court of Appeal confirmed that a general revocation clause in a will did not revoke the testator’s TFSA and RRIF beneficiary designations. The Court concluded that under s. 51 and s. 52 of the Succession Law Reform Act (“SLRA”), the beneficiary designations have to be expressly referenced in a revocation clause and dismissed the appeal. Background The testator was survived by her four children. Her four….
This blog was written by Karen Crellin, Estate and Trust Advisor at MD Private Trust Company which is part of Scotia Wealth Management *Note: This post was written by a Saskatchewan planner with a focus on common law. It is important to seek guidance in your own province to ensure your plan works there.* Most people know about beneficiary designations. The investment vehicles under which beneficiaries can be designated include registered….
DEATH OF A DESIGNATED BENEFICIARY Continue Reading »
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“To my grandchildren…” Sometimes, a testator will leave testamentary gifts to an undefined class of people, rather than to beneficiaries by name. Gifts might be left to “my children” or “my grandchildren” or even “the children of my niece” without any further specifications in the will[1]. This practice raises a question. Who are the precise members of this type of undefined class? Is the testator referring to people who fit….
When Does a Class of Beneficiaries Close? Continue Reading »
Estate Administration, Estate Litigation, Estate Planning
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….
