Estate Planning

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The Use of Primary, Secondary, Tertiary, Quaternary etc. Wills in Estate Planning

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Today’s blog is being brought to you by guest blogger, Fatima Husnain, Articling Student at Fasken LLP. The use of multiple wills in estate planning is not a new concept for estate practitioners. To explain briefly, multiple wills are often created as an estate administration tax (“probate tax”) planning mechanism. One will (the “Primary Will”) governs assets that require a certificate of appointment of estate trustee (“probate”) to administer, one….

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Estate Planning, Wills

A Taxing Decision for Estate Planners

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This Blog was written by Mélina Konzak, Estate and Trust Consultant, Scotiatrust  Like most new case law delivered right before the holiday season, the decision rendered by the Superior Court judgment of The Estate of Caron v. Malenfant appeared at first to be swept under the rug. However being the controversial decision it has revealed itself to be, once published in Québec’s leading law journal (l’Express SOQUIJ) in early February, the….

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Contested wills, Estate Planning, In the News, Uncategorized, Wills

TOSI and the estate planning – pension splitting

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The pension splitting exception will allow a spouse who is 65 years of age to split income with his or her spouse or common law partner if the split income would be an excluded amount of the spouse who is 65 years old. These deeming provisions provide an opportunity to split income with spouses if certain conditions are met. The following example shows how the pension splitting exception would apply:….

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Canada Revenue Agency, Estate Planning, Tax Issues

Clash of the Limitation Periods

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The Limitations Act, 2002, SO 2002, c 24, Sch B, brought order and clarity to limitation periods in Ontario. However, the Limitations Act did not displace all existing limitation periods established by statute. The Limitations Act carves out several exceptions, including the Real Property Limitations Act, RSO 1990, c L.15 and s. 38(3) of the Trustee Act, RSO 1990, c T.23 (see ss. 2(1)(a) and 19(1) of the Limitation Act)…..

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Estate Administration, Estate Litigation, Estate Planning, Executors, Family Conflict, Property, Real Estate, Spouse, Succession Planning, Trusts, Wills

Estates Law and Privacy Law: An Incomplete Intersection (Part I)

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Estates Law and Privacy Law: An Incomplete Intersection (Part I) This is the first entry in a three-part blog series about the current state of estates law vis-à-vis privacy law. Part I will focus on the relevant federal and provincial privacy legislation. Part II will examine significant court decisions relating to this area. Part III will look at solutions for lawyers to help their clients manage their estate planning to….

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Estate Administration, Estate Litigation, Estate Planning, Executors, Succession Planning, Uncategorized, Wills

Charitable Remainder Trusts in Canada

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The Charitable Remainder Trust (CRT) is a gift planning structure that rarely works in Canada.  An import from the U.S. – where it is an integral part of the gift and estate tax regime – the CRT in Canada has fewer tax and planning benefits.  It’s a foreign plant that doesn’t thrive in the Canadian soil. CRTs in the U.S. Introduced in 1969, U.S. CRTs are a defined structure in….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Trusts
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