Property

Total 144 Posts

I am Ready and Willing – When do I Start? Activating a Power of Attorney for Property

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This article is written by Alicia Mossington, Estate and Trust Consultant with Scotiatrust.   A Power of Attorney for Property is a document which allows an individual (grantor) to appoint and authorize a substitute decision maker. In Ontario, the substitute decision maker is referred to as an “attorney.” The named attorney or attorneys typically have a broad scope of power and under section 7(2) of the Substitute Decisions Act (the….

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Estate Planning, Power of Attorney, Property, Uncategorized

Real Estate in Estate Planning: Tax Consequences

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Today’s blog was written by Jessica Butler, Law Clerk at Fasken LLP. Many Canadians hold a large share of their wealth in personally-owned real estate and consider it to be a critical part of their wealth-building strategy. Donald Sutherland, the well known Canadian actor who passed away in June of this year, is purported to have had a multimillion dollar real estate portfolio at the time of his death. For….

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Estate Planning, Probate Tax, Property, Real Estate, Tax Issues, Uncategorized

Planning for Cottage Season

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Today’s blog was written by Courtney Lanthier, Law Clerk at Fasken LLP With the summer months now here, we enter into another cottage season – a time for family and friends to gather, make new memories and relax and unwind. For many, cottages hold significant sentimental value. They are a place to spend time with loved ones and to watch children, and even grandchildren, grow up. But before jumping into….

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Cottage, Estate Administration, Estate Planning, Property, Uncategorized

Gamers are Letting off Some “Steam” After Learning that Purchased Games are Not Transferrable on Death

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Pictured: A screenshot of a discussion between a Steam user and a Steam Support representative that has taken the internet by storm. Usually, I get my trusts and estates-related news from legal blogs, LinkedIn or emails from colleagues. So, you can imagine my surprise when I stumbled upon a pretty big story in the world of trusts and estates as I was scrolling through the front page of Reddit. For….

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Contracts, Estate Administration, Estate Planning, In the News, Property, Succession Planning, Wills

COTTRELL A MUST-READ FOR VALUING THE INTEREST OF A BENEFICIARY IN A DISCRETIONARY TRUST

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This blog has been written by Darren Lund, a partner at Fasken LLP In Ontario, trust law and family law have for some time taken very different approaches to valuing the interest of a beneficiary in a discretionary family trust. For trust lawyers, a beneficiary’s interest in a discretionary family trust is a “mere expectancy”. Beneficiaries who are part of the class of discretionary beneficiaries have a right to be….

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Estate Planning, Family Conflict, Property, Separation, Trusts, Uncategorized

Automatic Vesting (Lazy Executors Hate This One Simple Trick!)

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An estate trustee is responsible for distributing the property of the deceased to those who are beneficially entitled to it (either in accordance with the terms of the relevant testamentary instrument or, where there is no such instrument, in accordance with the rules set out in the relevant legislation). What happens when an estate trustee ‘forgets’ to distribute some of the deceased’s property? In Ontario, Section 9 of the Estates….

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Estate Administration, Property
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