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Charitable Remainder Trusts – A Capital Idea

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Today’s Blog was written by Katie Ionson, Associate at Fasken Martineau DuMoulin LLP In the right circumstances, charitable remainder trusts (“CRT”s) can be a chance to have your cake and eat it too. CRTs can be testamentary or inter vivos trusts. Generally, the settlor and/or someone close to the settlor (e.g. a spouse) receives income from the trust during his or her lifetime. On the life tenant’s death, the capital….

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Estate Planning, Home-Right, Philanthropy/Charitable Giving

Set the time to ’10 past 11′

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Clock-drawing has become one of the standard cognitive screening tools used around the world.  How did this particular test achieve such popularity and why is it so useful? Originally, the clock-drawing test was cited in a leading Neurology textbook as a means of specifically assessing parietal lobe function in the brain because that is the location of visuospatial ability.  However, in the 1980s our group at Sunnybrook (among others) began….

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Elder Law, Home-Right

Trust Created in Holograph Will Fails

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A recent Court of Appeal decision from Alberta dealt with the interpretation of a holograph will.  The Court of Appeal upheld a lower court’s decision that the testator intended to create a trust but the trust failed since the objects of the trust were uncertain resulting in an intestacy.  The case serves as a good reminder that you should consult an expert to ensure your testamentary wishes are carried out…..

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Estate Planning, Home-Right

What the Heck is the Deemed Undertaking Rule?

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One of the best ways for a litigator to learn is to sit in open court watching other litigators suffer through embarrassing court room experiences.  In one of my early days appearing on the Estates List, I had one such experience, and the litigator’s lesson that day centred on the often-misunderstood deemed undertaking rule. On consent, the parties sought an Order Giving Directions.  The judge carefully read through all of….

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Estate Planning, Home-Left, Home-Right

DIRECTOR/EXECUTOR LIABILITY under the Income Tax Act

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The deceased was the sole owner and director of a corporation. In your due diligence, you have discovered the corporation has not filed corporate tax returns for one or more fiscal year ends prior to the date of death. To date, you have been unable to determine whether there are any assets in the corporation. However, you have determined that the corporation owed money to the Canada Revenue Agency (“CRA”)….

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Estate Planning, Fiduciary Professions, Home-Right

Estate & Trust Education

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I have been thinking a lot about education over the past few weeks. Perhaps it’s because my daughter is graduating from high school later this month, at least that is what she tells me. Education has come up in a different context, several times over the past year or two. More specifically, I have been asked how can one get involved into the exciting and action packed business of Estates….

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Estate Planning, Home-Right
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