Succession Planning

Total 154 Posts

“Can you tell me a bit about your practice?”

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This week, like many law firms in Toronto, Fasken participated in the annual 2L student recruitment process. I had the opportunity to meet many wonderful students, all with impressive backgrounds and bright futures ahead. I was asked by many of the students about my practice, and what I enjoyed most about estate planning. It was a great opportunity to reflect on what I love about my work. I thought I….

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Estate Planning, Practice Management, Succession Planning, Wills

The New Canadian Entrepreneurs’ Incentive and Your Succession Plan

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Donya Ashnaei articling student and Maddi Thomas, associate, Gowling WLG (Canada) LLP Introduction Following a year marked by low GDP growth, high inflation, and rising interest rates, the federal government unveiled several proposed measures in Budget 2024, including an increase in the capital gains inclusion rate from 50% to 66.67% for corporations and trusts, and from 50% to 66.67%  on the portion of capital gains realized in the year that….

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Succession Planning, Tax Issues

The Ultimate Paper Anniversary Gift: Why a Will Is an Act of Love

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Today’s blog was written by Jessica Butler, Law Clerk at Fasken LLP. This past Tuesday, October 15th, marked a significant milestone for me an my husband – one whole year of marital bliss! With the traditional first-anniversary gift being paper, I found myself thinking about a particularly profound paper: a Will. It’s a testament to caring, a document that conveys love through its protective intent – the ultimate love letter,….

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Dependant Support, Estate Planning, Spouse, Succession Planning, Wills

Lam v Law Estate: Gender bias permits variation of discriminatory will

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Today’s blog post was written by Latoya Brown, an Associate at Fasken LLP. The discussion of discriminatory wills continues with a new case out of the British Columbia Supreme Court. In Lam v Law Estate, 2024 BCSC 156, the court varied a testatrix’s will on the reasoning that the testatrix’s bias did not meet contemporary standards of fairness. The testatrix was survived by her two independent adult children, her son….

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Capacity Law, Caregiving, Compensation, Contested wills, Courts, Dependant Support, Elder Law, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Estate Planning, Family Conflict, Succession Planning, Uncategorized, Wills

Cross-Border Insurance Planning – Some Basics

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Cross-border insurance planning is tricky but understanding the basics can go a long way in assisting clients. This short article will review some of the key questions to consider in order to avoid potential pitfalls in life insurance planning. Who is the Owner, the Insured and the Beneficiary In the context of personal insurance planning, it is important to appreciate that there are always three (3) parties involved; the owner,….

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Estate Planning, Insurance, International, IRS, Succession Planning, Tax Issues, U.S. Citizen, US Taxes

Estate Planning and the Indian Act: Considerations for Spouses Without Indian Status

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Maddi Thomas associate Gowling WLG (Canada) LLP Estate planning presents several unique considerations for Indigenous peoples to whom the Indian Act applies: i.e., First Nation peoples who possess Indian status (“status”) and who “ordinarily reside”[1] on reserve land.[2] To be clear, while the term “Indian” may not be appropriate to use in most circumstances, the phrase still possesses legal meaning under the Indian Act as an Indigenous person “with status” and thus in certain….

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Spouse, Succession Planning, Wills
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