Executors

Total 349 Posts

A TFSA loses its tax exempt status

• • 0 Comments

The income tax treatment of a trust and its beneficiary where the trust lost its status as a tax-free savings account (TFSA) because it contravened the registration restriction on borrowing money was the subject of a recent Canada Revenue Agency(CRA) technical interpretation. The trust continued to exist for several years after the borrowing occurred and was administered during that time by the TFSA issuer as though it were a TFSA…..

A TFSA loses its tax exempt status Continue Reading »

Canada Revenue Agency, Estate Administration, Executors, Tax Issues

Probate and the Humans Rights Tribunal of Ontario

• • 0 Comments

On June 29, 2019, the Human Rights Tribunal of Ontario (the “HRTO”) released an interim decision which impacts upon estate trustees and which calls for some friendly scrutiny from estate solicitors and litigators. My colleague, Jacob Kaufman, blogged about a previous and related HRTO 2017 case which required that a certificate of appointment of estate trustee (probate) be obtained – both where there is and is not a will – in order….

Probate and the Humans Rights Tribunal of Ontario Continue Reading »

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

In Whose Best Interests? Estate Planning for Artists

• • 0 Comments

A recent case involving the estate of Canadian artist and figure skating legend, Toller Cranston (“Toller”), highlights the importance of estate planning for artists.  Administering posthumous intellectual property can be complex and without guidance from the testator, disputes will often arise between trustees and the estate’s beneficiaries due to competing interests. Toller died in 2015 while living in Mexico.  He left no will. Toller was a prolific artist and his….

In Whose Best Interests? Estate Planning for Artists Continue Reading »

Estate Planning, Executors, Wills

Sealing One’s Fate: The Sherman Murders, Probate and Perseverance

• • 0 Comments

On June 18, 2018, Justice Dunphy made ex parte orders sealing the court files relating to the Sherman Estates. On catching wind of the sealing orders, the Toronto Star, and one of its reporters, Kevin Donovan, brought a motion to terminate the sealing orders. They succeeded on appeal…..

Sealing One’s Fate: The Sherman Murders, Probate and Perseverance Continue Reading »

Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Executors, In the News, Wills

It Ain’t Over Til It’s Over*

• • 0 Comments

A “passing of accounts” refers to the process of formally preparing and presenting accounts to the beneficiaries and the court. The accounts are either approved (i.e., “passed”) in the form presented, amended by court order and passed in revised form, or not passed because the court is not satisfied with the accounts or some aspect of the administration of the estate or property being managed by a fiduciary. Pursuant to….

It Ain’t Over Til It’s Over* Continue Reading »

Capacity Law, Caregiving, Costs, Elder Care, Elder Law, Estate Litigation, Executors, Family Conflict, Fiduciary Professions, Passing Of Trustees’ and Executors’ Accounts, Power of Attorney, Powers Of Attorney and Guardianship Disputes, Trustee, Trustee Disputes

Significant Tax Re-Assessment Due to An Estate Valuation Gone Wrong

• • 0 Comments

I have been writing about valuations for estate plan agreements, highlighting that they should be based on fair and reasonable methods, prepared in good faith, properly supported and documented at the time of valuation. In Lewin v. the Queen 2019 TCC 21, The Lewin Estate was appealing a significant tax reassessment of the deceased’s terminal return issued some five years after the original assessment. The issue to be decided is….

Significant Tax Re-Assessment Due to An Estate Valuation Gone Wrong Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Litigation, Executors, Investments, Tax Issues, Trustee, Uncategorized
Scroll to Top