Executors

Total 349 Posts

TRUST INSTALLMENT REQUIREMENTS, INTEREST AND PENALTIES

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One of the many tasks associated with the administration of trusts is making sure all tax payments are made on a timely basis to protect the trust and its beneficiaries from avoid interest and penalties. In this regard, most trusts are required to make installment payments. Prior to 2016 only inter vivos trusts (other than grandfathered inter vivos trusts) were legislatively required to make instalment payments under the relevant sections….

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Estate Administration, Estate Planning, Executors, Interest, Property, Tax Issues, Trustee, Trusts

Principal Residence Exemption and some of the “What if’s”

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In my last blog, I wrote about the role of “beneficial” ownership in the determination of whether a property qualifies for the principal residence exemption. With an acknowledgment to Keith Masterman of “Advisor.ca”, I thought I would take the opportunity to write about some other “what if’s” and how the exemption may or may not apply. As an executor or trustee, you may encounter these scenarios and it might be….

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Canada Revenue Agency, Cottage, Estate Administration, Estate Planning, Executors, Investments, Joint Tenancy, Property, Real Estate, Tax Issues, Trustee, Trusts

Can an executor act as a witness to a Will?

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Two witnesses are sometimes hard to find. In a pinch, could an individual who is appointed as an executor under a Will act as a witness to that Will? In Ontario, the rules governing the formalities of Wills, including the eligibility of witnesses, are set out in the Succession Law Reform Act, R.S.O. 1990, c. S.26 (the “SLRA”). Section 14 of the SLRA states that an executor can be a….

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Estate Planning, Executors, Wills
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