Total 99 Posts
Because the doctrine of suspicious circumstances was developed in respect of probate and wills, it cannot easily be exported into other areas of law, including contract law…..
Suspicious Circumstances – For Wills Only Continue Reading »
Capacity Law, Contested wills, Contracts, Estate Litigation, Estate Planning, Executors, Geriatric Care Management, Property, Real Estate, Testamentary Capacity, Trustee, Undue influence, Wills
Joint tenancy has a lot in common with the TV show Survivor: the goal is to outlast your fellow castaways to win the prize – full ownership of the property. To escape this game show mentality, owners may sever the joint tenancy…..
Can You Sever Joint Tenancy After Death? Continue Reading »
Estate Litigation, Joint Tenancy, Property, Real Estate
In my previous blog, Principal residence – deceased vs. estate, I discussed the opportunity for an estate to claim a capital loss on a property that was previously the principal residence of the deceased and carry it back to the deceased’s final tax return under subsection 164(6) of the Income Tax Act (ITA). A number of readers reached out to me regarding the difficulties of realizing the loss and filing….
Principal residence – deceased vs. estate (Part 2): Time is of the essence Continue Reading »
Estate Administration, Real Estate, Tax IssuesThe over-heating of the housing market that started in 2021 is starting to slowly cool off as a result of rising interest rates. This cooling of the over-heated housing market has given rise to a potential scenario that was originally addressed by the Canada Revenue Agency (CRA) in a technical interpretation issued in January of 2009[1]. The potential scenario exists when a decedent is deemed to have disposed of their….
Principal residence – deceased vs. estate Continue Reading »
Estate Administration, Real Estate, Tax Issues
A person’s house is often their most valuable assets – both monetarily and emotionally. As a result, testators tend to put a lot of thought into who, and how, they wish to leave their house. However, as is always the case, best laid plans often go awry. One example of this, explored in the 2022 Court of Appeal of Ontario decision Barsoski Estate v Wesley, is when it is unclear whether the will gifts someone with a life interest in the house or a licence to use the property…..
Life Interest or Licence to Use? Continue Reading »
Charitable Giving, Contested wills, Estate Administration, Estate Litigation, Estate Planning, Interest, Philanthropy/Charitable Giving, Property, Real Estate, Succession Planning, WillsWith real estate prices soaring, it’s no surprise that property is often at the heart of estate litigation. Certificates of pending litigation (CPLs) are a common tool used to ensure that a disputed property is not sold before the litigation is resolved. If the parties agree to remove a CPL so that the property may be sold, the agreement is generally contingent on holding the sale proceeds in trust pending….
How much security is enough? Continue Reading »
Estate Litigation, Family Conflict, Joint Tenancy, Property, Real Estate, Trusts