gifts by will

Court saves Gift from Ademption

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In a recent Alberta case, the court considered whether a gift of a commercial property should adeem as the testator did not personally own the property.    The testator left a valid September 26, 2017 last will and testament. In her Will, she gifts a commercial property equally to her three grandchildren and her two great-grandchildren (the “Grandchildren”). The Will states “that all land and buildings” of a commercial property’s….

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Wills

Navigating Bequests of Real Estate Under Your Will: Language Matters

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  Are you planning to leave real estate to a loved one under your Will? Do you want that property to be transferred free of debt or other claims? If you’re making a specific gift of your interest in freehold or leasehold property that is subject to a mortgage, as defined in Ontario’s Succession Law Reform Act (RSO 1990, c S.26) (“SLRA”), at the date of your death (the “Property”),….

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Estate Planning, Property, Real Estate, Succession Planning, Wills

When Charities Die

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Contrary to public perception, it is quite common for charities to die.   The majority of charities are small, volunteer-run entities and some run out of steam and are deregistered.  Since 2011, over 7,536 charities have had their status revoked by Canada Revenue Agency for reasons ranging from exhaustion and mergers (which produce voluntary revocations), failure to file the annual return, or cause. What happens when there is a gift by….

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Estate Administration, Estate Planning, Philanthropy/Charitable Giving
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