Resulting Trust

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BARE TRUSTS

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A 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….

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Canada Revenue Agency, Courts, Estate Planning, Investments, Joint Tenancy, Property, Resulting Trust, Tax Issues, Trustee, Trusts, Uncategorized

Secret Trusts

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Secret and trusts are essentially trust arrangements made between a testator and a trustee, without written disclosure or agreement of the terms of the arrangement, but where an understanding exists between the parties. Based on precedent in case law, the essential elements of a secret trust are: • An intent by the testator to subject the trustee to an obligation in favour of a beneficiary; • Communication of that intent….

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Estate Administration, Estate Litigation, Liability, Resulting Trust, Trustee, Trusts, Uncategorized, Wills

Can You be Removed as a Trustee Without a Replacement?

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The recent case of Novak v. McDougall, (2019 SKQB 261), confirms that when you have accepted an appointment to be trustee, you may not be able to have yourself removed from that appointment without a suitable replacement. The applicant in this case, a beneficiary of a “Henson” trust (basically defined as being entitled to distributions from a discretionary trust but having no vested interest in the trust assets) set up….

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Capacity Law, Contested wills, Costs, Credibility, Estate Administration, Estate Litigation, Executors, Family Conflict, Guardianship, Passing Of Trustees’ and Executors’ Accounts, Resulting Trust, Trustee, Trustee Compensation, Trustee Disputes, Trusts, Uncategorized, Wills

Resulting Trusts and Summary Judgment Motions

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With its sandy beaches, hiking trails, canoe routes, and wildlife, the Town of Wasaga Beach is a well-loved Ontario vacation destination. However, no town, however idyllic, is immune to lengthy property disputes, especially when the two people fighting are related to each other. Brother A and Brother B were at odds with each other over the beneficial ownership of a house in Wasaga Beach. Brother A was on title to….

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Compensation, Cottage, Family Conflict, Loans, Probate Tax, Property, Real Estate, Resulting Trust, Tax Issues, Trustee Compensation, Trusts

Tenancy and Equitable Ownership – You Can Have it All!

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Can you be a tenant and an equitable owner of a property? Absolutely! Read how you can have it all in Warraich v Choudhry et al, 2019 ONSC 2656. In March 2012, Choudhry purchased a property for $519,000.00. In April 2012, Warraich, one of Choudhry’s friends, moved into the property with his family. As sometimes happens, the friendship broke down. When he was asked to move out, Warraich commenced an….

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Joint Tenancy, Property, Real Estate, Resulting Trust, Small Business, Trusts

When is a Gift not a Gift?

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Styres v. Martin 2018 ONCA 956 is a case of a gift that unfolded a saga (not over yet and far from it) of diminished capacity, alleged breach of trust, breach of fiduciary duty, unjust enrichment, undue influence to name a few. Mr. Styres lived in a house he built on land given by his father, for about 20 years, when in 1998, he suffered a very serious brain injury….

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Capacity Law, Caregiving, Disability, Estate Litigation, Power of Attorney, Property, Real Estate, Resulting Trust, Trusts, Uncategorized, Undue influence
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