Estate Administration

Total 498 Posts

Limited Retainers, Lawyer Liability and Limitation Periods

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The recent Court of Appeal (“ONCA”) decision of Meehan v. Good, 2017 ONCA 103 (“Meehan”), reminds lawyers that the duty of care owed to their clients is extensive, and may operate beyond a limited-scope retainer. In Meehan, the plaintiffs, Michael and Anne Meehan, brought a claim against their lawyer, John Cardill, who they initially retained to pursue an assessment of the accounts of their previous counsel. The Meehans sued Mr…..

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Dependant Support, Estate Administration, Estate Litigation, Estate Planning, Liability, Power of Attorney, Powers Of Attorney and Guardianship Disputes, Testamentary Capacity, Undue influence, Wills

I Know I Put it Somewhere.

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This Blog was written by: Holly Allardyce I once attended a networking event where we all had to name an aspect of our jobs that we enjoy. I volunteered that I liked knowing I had located all of a deceased person’s valuables. The perplexed facilitator asked if I was a professional burglar. I advised that I was a Trust Officer that when attending at a residence shortly after a client’s….

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Estate Administration, Uncategorized

Estate Distributions

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During the administration of an estate, taxable income can be generated in the form of interest, dividends, capital gains, etc. after all debts and specific bequests have been paid. The Canada Revenue Agency (CRA) was asked if an estate could distribute the remaining taxable income to the residual beneficiaries. The CRA confirmed that the ability of an estate to distribute the remaining taxable income to the residual beneficiaries would depend on….

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Canada Revenue Agency, Estate Administration, Executors

Multiple testamentary trusts for tax purposes: Are they always treated as one?

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This issue was recently tested in Court with a “bittersweet” result. Three testamentary trusts were created for 3 children in the late 2000’s. Their mother was an income beneficiary in each trust, and entitled to receive all the net income derived from each trust during her lifetime. A child and his/her children were income and capital beneficiaries of each respective trust and would be paid the net income after their….

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Canada Revenue Agency, Estate Administration, Investments, Property, Resulting Trust, Tax Issues, Trusts, Uncategorized

TAX FREE ROLLOVER “WRINKLES”

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Some recent technical interpretations from the Canada Revenue Agency (“CRA”) remind us that tax free rollover of retirement plans have to be carefully planned and executed to get the desired result. Here are a couple of cases in point: Rollover of a Registered Pension Plan (“RPP”) to an infirm dependent child In a recent technical interpretation, CRA concluded that where a RPP lump sum death benefit is paid from the….

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Canada Revenue Agency, Dependant Support, Estate Administration, Investments, Tax Issues

Settlement Payments Determinable After Death

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The Canada Revenue Agency (CRA) was asked whether certain settlement payments are taxable in the hands of the deceased taxpayer where a taxpayer dies prior to obtaining a determinable right to the payments. A class action lawsuit was brought forth on behalf of former members of the Canadian Forces.  A 2013 Court Order outlined the terms of the settlement of the class action lawsuit, with the exception of one outstanding….

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Canada Revenue Agency, Estate Administration, Executors, Tax Issues
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