Executors

Total 345 Posts

My Best Interests, and Yours Too?

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The recent case of Tarantino v. Galvano, 2017 ONSC 3535, raises a variety of issues familiar to estate litigators – powers of attorney, capacity, quantum meruit claims, the duty to account and the rules surrounding the removal of an estate’s executor. In this case the deceased, Rosa Filippo Galvano (“Rosa”) had two daughters, Nellie Galvano (“Nellie”) and Giuseppina Bucci (“Giuseppina”), who died in 2007. Giuseppina had two daughters, Rosa Pignatelli and….

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Attorney Compensation, Capacity Law, Caregiving, Compensation, Contracts, Elder Care, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Executors, Family Conflict, Passing Of Trustees’ and Executors’ Accounts, POA Compensation, Power of Attorney, Powers Of Attorney and Guardianship Disputes, Wills

Family trust and double tax

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The Canada Revenue Agency (CRA) issued a technical interpretation on the tax treatment of trust income where there was a distribution from the trust to beneficiaries who weren’t entitled to the distribution in the first place. The trust was established for the benefit of children who were minors at the time of the trust distribution.  The trust agreement forbid the trustee(s) from making distributions to minor beneficiaries presumably to avoid the application….

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Canada Revenue Agency, Estate Planning, Executors, Tax Issues, Trustee

Voluntary disclosures – changes are coming!

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Last week I met a couple who came in to see me for help with missed tax filings.  They were both aware of the potential for tax penalties and related interest on overdue tax and contemplated “leaving sleeping dogs lie”.  When asked how well they sleep at night, their response was “…not well”.  I said to them there may be an alternative solution. The Canada Revenue Agency (CRA) Voluntary Disclosures….

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Canada Revenue Agency, Executors, Tax Issues

Gift returned receipt required

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The Canada Revenue Agency was asked to speak to the implications of a gift return and their response included some commentary on the impact on the donor. The situation the CRA was asked to consider involved an individual taxpayer who, in 1981, gave a whole life insurance policy to a charitable foundation raising funds to support a specific college. The gift was made on the condition that the funds be….

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Canada Revenue Agency, Charitable Giving, Estate Donations, Executors, Insurance, Philanthropy/Charitable Giving, Tax Issues

Multiple Wills – the West Coast version

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This Blog was written by: Natalie Rouse Most of us are familiar with the 1998 decision of Granovsky Estate v Ontario. The case has been the leading authority to permit planning with multiple Wills in Ontario. The use of multiple Wills is now an integral part of the estate planning process for business owners and professionals. It is a frequently used and effective strategy in order to save (and in….

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Estate Administration and Probate Applications, Estate Planning, Executors, In the News, Probate Tax, Uncategorized, Wills

Principal residence and the change in use

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It is not unusual for find the value of a deceased’s home makes up a significant part of their net worth and estate value on death. Often there is an automatic reliance on the principal residence exemption to tax exempt the gain on the deemed sale triggered on death.  What if during the person’s life the property was used for other purposes such as a home office, or day care….

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Canada Revenue Agency, Cottage, Estate Administration, Estate Planning, Executors, Property, Real Estate, Tax Issues
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