Total 501 Posts
It is never easy when a loved one dies. Only adding to one’s grief is the fact that the administrative tasks to deal with a death can be complicated. There is any number of loose-ends to address and specific steps to take to bring finality to a life well-lived…..
Take the case of Estate of Ronald Alfred Craymer v Hayward et al, 2019 ONSC 4600, The Craymers were married in the 1980’s. It was a second marriage for Mrs. Craymer and a fourth marriage for Mr. Craymer. At the time of their marriage, Mrs. Craymer had three adult children of her own and Mr. Craymer had four adult children. The Craymers were married for thirty-two years until Mrs. Craymer….
Trustee’s Personal Liability – It Could Go on for Years! Continue Reading »
Capacity Law, Estate Administration, Executors, Guardianship, Liability, Passing Of Trustees’ and Executors’ Accounts, Power of Attorney, Spouse, Trustee, Uncategorized[caption id="attachment_11235" align="aligncenter" width="800"] Florence Wyle and Frances Loring, 1919. Photo by Robert Flaherty[/caption] Frances Loring (1887–1968) and Florence Wyle (1881–1968) were Canadian sculptors and life partners. In 1963 they prepared mirror wills to “assist and encourage Canadian Sculpture” through a testamentary trust, The Sculpture Fund. Their beloved home, a Victorian church in mid-town Toronto, was to become a meeting place for sculptors and artists. But after their deaths,….
Best Laid Plans: The Sculpture Fund Continue Reading »
Estate Administration, Estate Planning, Philanthropy/Charitable Giving, UncategorizedIn Yellow Point Lodge Ltd. v, The Queen DTC 1130, the Company owned certain lands on Vancouver Island, mostly undeveloped and in its natural state. In June 2008, the Company granted a covenant and other specified legal interests with respect to a parcel of ecologically-sensitive land, to two organizations, with estimated fair market value in excess of $5 million. Initially, the Company did not claim a deduction in respect of….
In Foisey v. Green, the Divisional Court allowed an appeal of the application judge’s decision that set aside a release signed by a beneficiary who was later deemed incapable of managing property. I previously wrote about the earlier decision that was under appeal. The appellant, Ms. Green, was an estate trustee who administered her brother’s estate. One of the beneficiaries of the estate was her estranged sister, Ms. Foisey. Ms…..
Divisional Court Sets Aside Decision Ordering a Passing of Accounts Continue Reading »
Elder Law, Estate Administration, Estate LitigationIncome attribution rules, generally speaking, operate so that income of one person (the actual recipient of the income) is attributed to and becomes income of another person (the transferor). Whether or not income which is subject to subsection 75(2) is first and foremost income of the trust itself can be significant for how the trust return is prepared and/or whether or not a liability for alternative minimum tax. When questioned,….
Attribution under 75(2) Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Planning, Executors, Tax Issues