Executors – Page 43 – All About Estates

The OPGT and the Case of the Missing Estate Trustee

Gillian Fournie • November 29, 2016

As regular readers of this blog well know, not everyone dies with a will. When this happens, the Succession Law Reform Act (Part II) sets out who are the beneficiaries of the estate, while the Estates Act (section 29) ranks in order of priority who may apply to be estate trustee. This statutory system works well, until no one wishes to step into the role of estate trustee. When that….

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Stock options held at death

Derek de Gannes • November 22, 2016

The Department of Finance released a Notice of Ways and Means which included amendments to the tax rules of interest to executors. On such amendment dealt with the security option benefit of the deceased.
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Canada Revenue Agency, Estate Administration, Estate Planning, Executors, Tax Issues

Trust distribution of Property

Derek de Gannes • November 8, 2016

The Canada Revenue Agency (CRA) was asked if a distribution of certain property to beneficiaries is a taxable event, when an attribution rule (triggered by a beneficiary who contributed the property to the trust) ceases to exist?….

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Canada Revenue Agency, Estate Planning, Executors, Tax Issues

Splitting Pension Income in Case of Death

Derek de Gannes • October 25, 2016

The CRA was asked whether, in the case of the death of a spouse, the other spouse would have the right to split the eligible pension income that he or she receives in a taxation year with the deceased…..

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

There is no place like home – time to report it!

Derek de Gannes • October 11, 2016

Until recently, an individual selling his or her “principal residence” did not have to report anything on their tax return for the year of disposition. This is about to change…..

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Canada Revenue Agency, Cottage, Executors, Real Estate, Tax Issues, Trustee

Where do you look for an original Will and what do you do if you cannot find it??

Paul Fensom • September 19, 2016

A couple of years ago a survey revealed that only 18% of first time executors were aware of the first step in the administration of an Estate – locate the Will….

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Estate Planning, Executors, Wills