Total 144 Posts
The gratuitous transfer of property from a parent to an adult, capable child may result in a resulting trust…..
Of Love, Resulting Trusts, Matrimonial Homes and Fenelon Falls Continue Reading »
Contested wills, Cottage, Estate Administration, Estate Litigation, Estate Planning, Family Conflict, Joint Tenancy, Property, Real Estate, Resulting Trust, Spouse, Succession Planning, Trustee, Trusts
Families often fall into patterns and routines; they are comfortable, stable, and predictable. They can also give rise to legal rights over land. The extent and enforceability of those rights will be put to the test following death or divorce. Such was the case in Tomek v Zabukovec, 2020 ONSC 2930. Joseph Sr. (the “Deceased”) and his wife Mary had two sons, Joseph Jr. (the “Husband”) and Edward. In August….
Constructive Trust and Proprietary Estoppel – Built With Your Own Hands Continue Reading »
Contracts, Estate Litigation, Family Conflict, Property, Real Estate, SpouseA bare trust, also referred to as a naked trust, exists where a person, the trustee, is merely vested with the legal title to property and has no other duty to perform or responsibilities to carry out as trustee, in relation to the property vested in the trust. The sole duty of a bare trustee would be to convey legal title to the trust property on demand of and according….
BARE TRUSTS Continue Reading »
Canada Revenue Agency, Courts, Estate Planning, Investments, Joint Tenancy, Property, Resulting Trust, Tax Issues, Trustee, Trusts, UncategorizedAs someone who has been around the life insurance industry in a professional and personal capacity for several decades, I am always curious about what motivates people to buy or not buy life insurance. I understand that few people spend time thinking about the consequences of low-probability events and are therefore disinclined to consider the need for life insurance. I would have thought the COVID-19 pandemic would increase public awareness….
LIFE INSURANCE IN THE COVID-19 ERA Continue Reading »
Business Succession Planning, Estate Administration, Estate Planning, Funeral Planning, In the News, Insurance, Investments, Property, Tax Issues, UncategorizedIn this space, sometime ago, a fellow blogger wrote about how survivor payments made out of a deceased’s tax free savings account (TFSA) to the deceased’s spouse TFSA would qualify as an “exempt contribution” (i.e. the contribution room in the surviving spouse’s TFSA would not be affected by the addition of these funds), even if the spouse was not designated beneficiary of the TFSA. What are the implications to the….
TFSA’s and Survivor Payments: Impact of Fair Market Value. Continue Reading »
Canada Revenue Agency, Estate Administration, Investments, Property, Tax Issues, Uncategorized, WillsThe Queen’s Bench for Saskatchewan was recently asked (in the case of Gust vs. Langan et al., 2020 SKQB 42) whether a will handwritten on a paper napkin created by the deceased sometime before his death met the requirements of being a valid will under the relevant Act to permit it to be accepted as a valid holograph will. The Court had to decide whether the will met the test….
ON A PAPER NAPKIN, DID YOU SAY? Continue Reading »
Contested wills, Courts, Estate Administration, Estate Litigation, Family Conflict, Property, Wills