Executors

Total 346 Posts

Paper vs. Electronic Filing of Estate Information Returns!

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Today’s blog was written by guest bloggers, Tracy Parkinson and Krista Brown, law clerks in the Private Client Services group of Fasken LLP. It’s hard to believe that we have been filing Estate Information Returns (the “EIR”) with the Ministry of Finance (the “Ministry”) since January 1, 2015, but if I start thinking about it, Ontario estates law has seen as much change in the last 4 or 5 years….

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Estate Administration, Estate Administration and Probate Applications, Executors, Wills

Death of a Beneficiary – Alter Ego and Joint Spousal Trusts

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At a recent tax conference, the Canada Revenue Agency (CRA) shared its view on reporting a post-mortem loss incurred by a trust in the first year following the death of the last life interest beneficiary (the settlor in the case of an alter ego trust, and the last to die of the spouses in the case of a joint spousal trust. Both an alter ego trust and a joint spousal….

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Canada Revenue Agency, Executors, Tax Issues

Proposed relief for inter-vivos trusts

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A recent letter from officials of Tax Legislation Division provides hope for trusts established for an individual eligible for the Disability Tax Credit (DTC) to qualify for the principal residence exemption. Specifically, the letter addressed concerns raised by an adviser in respect of her client regarding the benefit of the client’s DTC-eligible son, who was otherwise ineligible for the principal residence exemption. On October 3, 2016, income tax measures were….

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Elder Care, Estate Planning, Executors

Can You be Removed as a Trustee Without a Replacement?

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The recent case of Novak v. McDougall, (2019 SKQB 261), confirms that when you have accepted an appointment to be trustee, you may not be able to have yourself removed from that appointment without a suitable replacement. The applicant in this case, a beneficiary of a “Henson” trust (basically defined as being entitled to distributions from a discretionary trust but having no vested interest in the trust assets) set up….

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Capacity Law, Contested wills, Costs, Credibility, Estate Administration, Estate Litigation, Executors, Family Conflict, Guardianship, Passing Of Trustees’ and Executors’ Accounts, Resulting Trust, Trustee, Trustee Compensation, Trustee Disputes, Trusts, Uncategorized, Wills
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