Estate Administration

Total 501 Posts

The Secret Language of Estates, and Inflation

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Estates clerks and lawyers “speak” their own language.  We use acronyms or initialisms[1] such as CAET, EIR, RCP, ARI, AET, GRE, POA and COLA.  We use abbreviations like Benys and T’ees, and we draw triangles.  The idea for this blog was born when reflecting on having to interpret a lawyer’s handwritten notes for an assistant last week and on answering a “silly” question for a corporate colleague earlier this week. ….

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Estate Administration, Estate Planning, Uncategorized

Beneficial ownership reporting for trusts – the uncertainty is almost here!

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The beneficial ownership reporting for trusts (BORT) rules, originally announced in the 2018 Federal Budget on February 27, 2018, has made its way into the House of Commons. The original draft legislation released by Department of Finance on July 27, 2018 was updated on February 4th and on August 9th of 2022. This final update of the BORT draft legislation is now included in the 172 pages of Bill C-32[1]….

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Canada Revenue Agency, Estate Administration, Tax Issues, Trusts

ELDER ABUSE: A GROWING PROBLEM IN AN AGING POPULATION

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Today’s blog is co-written by Jennifer Campbell and Sandra Arsenault, Senior Law Clerks in the Private Client Services Group at Fasken. At the beginning of November, we were fortunate enough to attend the Institute of Law Clerks of Ontario (ILCO) annual conference in Niagara-on-the-Lake.  This conference brings together law clerks and paralegals working in various areas of law.  It is a great opportunity to network with colleagues you have not….

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Capacity Law, Elder Care, Elder Law, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Estate Planning, Executors, Family Conflict, Geriatric Care Management, In the News, Joint Tenancy, Power of Attorney, Undue influence, Wills

Principal residence – deceased vs. estate (Part 2): Time is of the essence

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In my previous blog, Principal residence – deceased vs. estate, I discussed the opportunity for an estate to claim a capital loss on a property that was previously the principal residence of the deceased and carry it back to the deceased’s final tax return under subsection 164(6) of the Income Tax Act (ITA). A number of readers reached out to me regarding the difficulties of realizing the loss and filing….

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Estate Administration, Real Estate, Tax Issues

Charities Lawyers Don’t Recommend

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I recently spoke to an estate lawyer who told me she would never recommend certain charities to clients. Why?  Because of the way these charities treated estate trustees. Some charities are unduly litigious, grind on fees, and are obstreperous about releases. It’s not the first time I’ve heard this comment from estate professionals – and some traumatized lay executors and family members. Sympathy for Charities It’s hard to evaluate the….

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Estate Administration, Estate Donations, Philanthropy/Charitable Giving, Uncategorized

You Wear the Executor Hat First

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It’s not easy being an Estate Trustee and a beneficiary. However, an Estate Trustee must be ever mindful that she wears the executor “hat” first. In other words, the duties an Estate Trustee owes to the beneficiaries must come before the Estate Trustee’s own interests. Otherwise an Estate Trustee will be at risk of breaching her fiduciary duties and, at the end of the day, may not be entitled to….

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Compensation, Estate Administration, Trustee Compensation
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