Executors

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Shareholder Loan on Death

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There are several ways to extract funds from a business; salary, dividend, bonus or a shareholder loan. When a shareholder withdraws corporate funds by way of a shareholder loan, it will be recorded in the business financial statements and comes with tax implications to the shareholder.  This is because, a shareholder loan that is outstanding for more than one (1) tax year from the end of the tax year in….

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Estate Administration, Estate Planning, Executors, Loans, Tax Issues

Contempt and Custodial Sentences

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A storm approaches. The vista of mountains and a man standing upon a mountain that the storm has not yet reached.

On the de VRIES LITIGATION LLP website, I previously blogged about orders for contempt and the nuances associated with seeking and obtaining this declaratory relief. This blog will take the discussion a step further and look at what penalties may be imposed upon a contemnor; in particular, the discussion will centre upon the penalty of jail time or a custodial sentence (these terms will be used interchangeably) for civil contempt…..

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Courts, Estate Litigation, Executors, Fiduciary Professions, Liability, Trustee

When a Parent Asks You to Be Their Executor

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Today’s blog has been guest written by Musa Mansuar, Articling Student at Fasken LLP It’s a profound moment when a parent asks you to be the executor of their estate. For many, it’s a conversation that carries both honour and gravity. On one hand, being chosen signals immense trust and confidence; on the other, it signifies a weighty responsibility. Executors play a vital role in ensuring a loved one’s final….

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Estate Administration, Estate Administration and Probate Applications, Executors, Family Conflict, Grief, Trustee, Wills

Because Lawyers Die Too: The Need for Mandatory Contingency Planning

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Death will affect every one of us, ultimately. Incapacity may impact us. The inevitability of death and the possibility of incapacity makes planning essential. Failure to plan is planning to fail. This inevitability is behind recent Law Society of Ontario (“LSO”) By-law amendments that require lawyers in private practice to develop and maintain a client contingency plan for preserving, carrying on or winding up their professional businesses. The requirement comes….

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Estate Planning, Executors, Interest

EXECUTOR ESSENTIALS: CRAFTING THE ULTIMATE GUIDE TO YOUR ESTATE WITH THE EXECUTOR’S BINDER

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The holiday season is often filled with visiting family, friends and relaxation.  It can be that rare moment in the year where our fast-paced lives are put on hold, allowing for an opportunity to regroup and tackle important tasks we’ve been postponing throughout the year. Much like you would schedule a holiday party in your calendar, why not set aside some time to do an overview of your estate planning?….

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Estate Administration, Estate Planning, Executors, Funeral Planning, Wills

Patents as Estate Assets

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Patents What is the symbol of a true gentleman, if not his moustache?  The moustache guard was patented in 1876 to protect the user’s moustache during holiday feasts.  It was described in the patent application as a “curved and concave shield, which may be made of vulcanized rubber, metal or any other suitable material” and it promised to keep moustaches out of harm’s way while the user (inevitably) overindulged during….

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Estate Planning, Executors
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