Executors

Total 345 Posts

Unexpected Death? Apply for an Extension

• • 0 Comments

Death is difficult to control. It has also proved impossible to avoid. However, married spouses are given greater options than the rest of us – they can choose to inherit their deceased partner’s estate under the Succession Law Reform Act or the Family Law Act. When a married spouse dies without a will, the default is that his or her estate will be distributed pursuant to the rules set out….

Unexpected Death? Apply for an Extension Continue Reading »

Estate Administration, Estate Litigation, Executors, Property, Spouse

Tax Appeals in Estates and Legal Standing

• • 0 Comments

In the land of income taxes and income tax law, it is generally understood that a taxpayer cannot appeal another taxpayer’s assessment without legal standing to do so. This is particularly relevant when the taxpayer being assessed or re-assessed is deceased. In the Estate of Straessle v. the Queen 2018 DTC 1106, the issue of legal standing was put to the test with interesting results. Sometime ago, The Canada Revenue….

Tax Appeals in Estates and Legal Standing Continue Reading »

Canada Revenue Agency, Estate Administration, Executors, Tax Issues, Trusts, Uncategorized

Trust Return Due Date on Wind-up

• • 0 Comments

The Canada Revenue Agency (CRA) recently provided its view on the due date of a trust information and income tax return (T3) in the year a trust is wound up. Where a trust is wound up by distributing all of its property to its beneficiaries, does the T3  have to be filed within 90 days of the date of wind up date or within 90 days of the calendar year-end? Depending….

Trust Return Due Date on Wind-up Continue Reading »

Canada Revenue Agency, Executors, Tax Issues

The Advisor as Executor: Risks and Rewards Part 2

• • 0 Comments

Last week, I discussed some of the risks for a professional advisor that may arise in the administration of the estate that are associated with the assets of the estate. This week’s blog considers risks which arise from the beneficiaries (or would-be beneficiaries) of the estate, as well as steps the professional advisor can take to mitigate the risks associated with being appointed as executor of an estate. [1] Interpersonal….

The Advisor as Executor: Risks and Rewards Part 2 Continue Reading »

Executors

Preservation Orders in Estate Litigation

• • 0 Comments

Estate litigators are very familiar with unique and interesting fact patterns and it is helpful to be reminded that unusual circumstances may warrant the use of somewhat uncommon remedies. Rule 45 of the Rules of Civil Procedure is one such remedy, which provides for the interim preservation of property and can be utilized in an estate proceeding to preserve and even seize property. Rule 45 reads as follows: 45.01 (1)….

Preservation Orders in Estate Litigation Continue Reading »

Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Executors, Family Conflict

Trust Claiming a Capital Gain Reserve

• • 0 Comments

The Canada Revenue Agency (CRA) answered several questions regarding a scenario in which a trust claims a capital gains reserve. When a trust claims a capital gains reserve, and the amount of the reserve is included in income in the subsequent year and flows through the trust to a beneficiary, does the gain retain all of its attributes? The reserve amount which the trust claims is included in calculating its capital….

Trust Claiming a Capital Gain Reserve Continue Reading »

Canada Revenue Agency, Estate Planning, Executors, Tax Issues
Scroll to Top