Contracts

Total 39 Posts

AGREEMENT RECTIFICATION APPLIED FOR AND ALLOWED!

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Due in particular to the outcome of some recent court cases, many have feared that formal applications to rectify plans would receive a favorable hearing only in the event of obvious clerical errors in the documentation. However a recent court case in the Supreme Court of British Columbia demonstrated that rectification is possible in circumstances where a definite agreement has gone awry in its implementation. In Crean v. Canada, 2019….

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Business Succession Planning, Canada Revenue Agency, Contracts, Estate Planning, Investments, Small Business, Succession Planning, Tax Issues, Uncategorized

Separation Agreements, Support Obligations, and Summary Judgment

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Separation agreements commonly include a requirement that one of the spouses maintains a life insurance policy in favour of the other in order to “secure” support payments (either child support or spousal support). It is equally as common to find out, on the death of the supposedly insured spouse, that she let the insurance policy lapsed, changed the designated beneficiary, or reduced the amount of the policy. What happens next?….

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Contracts, Dependant Support, Estate Litigation, Family Conflict, Separation, Spouse

SHAREHOLDERS AGREEMENTS, EXIT PROVISIONS AND THE IMPACT OF CONTROL

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Control is an important concept for applying certain income tax rules and valuation issues (amongst others) when dealing with corporations, with serious implications to current and future (and estate) planning scenarios. De jure control refers to legal control of a corporation, which requires a look at shareholdings. Control in fact, or “de facto control”, (“DFC”) is a broader concept that focuses on influence rather than legal control. As a result,….

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Business Succession Planning, Canada Revenue Agency, Contracts, Estate Planning, Investments, Property, Small Business, Succession Planning, Tax Issues, Uncategorized

Trust in the Raptors

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Sports/Estates fans, we’re in that period during the year where playoff hockey and basketball overlap with the beginning of the baseball season. A lot of questions come up for fans during this time: He’s making HOW much?How can the team get out of that guy’s contract?What would happen if the Boston Bruins spontaneously combusted in the middle of their playoff game? For this week’s blog, I thought I would cover….

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Contracts, Estate Planning, In the News, Trusts, Uncategorized

Lights, Camera, Estates!

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The Oscars are on Sunday, and I think we can all agree that the best movies always revolve around estates and trusts. Just look at the plot of my favourite Best Picture nominee this year: After an eventful career and life, the family patriarch suddenly passes away. Heartbroken and feeling responsible, his son (our hero) struggles as he takes his father’s place. His father’s estate was massive and contained very….

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Contracts, Estate Administration, In the News

Unjust Enrichment – The Supreme Court’s Naughty List

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They see you when you’re sleeping, they know when you’re awake. They’re ready to decide if you’ve been unjustly enriched, so be good for goodness sake. The Supreme Court of Canada is coming to town. The Supreme Court of Canada in their festive/ceremonial robes [Not pictured – Santa Claus]   On November 23rd, the Supreme Court of Canada released its decision in Moore v. Sweet, 2018 SCC 52. Back when this case….

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Contracts, Family Conflict, In the News, Insurance
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