Trustee

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There’s a New Form for That – Form 74G Renunciation and Consent

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It seems as though the estate court forms and court rules are always changing. It is important to be aware of these changes when filing probate applications in Ontario. Today’s blog will explore the new Form 74G Renunciation and Consent, and provide some practical tips and considerations to help navigate this recently introduced form. Form 74G Renunciation and Consent As of April 1, 2024, new Form 74G Renunciation and Consent….

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Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Trustee, Wills

Estate & GST/HST Clearance Certificate

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Section 270 of the Excise Tax Act (the “ETA”) requires a legal representative of an estate to apply for a GST/HST clearance certificate. This is to obtain confirmation that all outstanding GST/HST owing has been paid and satisfied prior to the final distribution of the deceased’s assets. Indeed, if the deceased was a GST/HST registrant (as an example, was operating a sole proprietorship at the time of death) and had….

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Estate Administration, Estate Planning, Executors, Tax Issues, Trustee

Trust Lending to a Beneficiary

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There may be instances where a beneficiary has an immediate need to access funds held in trust yet, the terms of the trust prevent the trustees from proceeding with an income or capital distribution to such beneficiary. In such a situation, if the deed of trust grants the right to the trustees to make a loan, it may be appropriate for the trustees to consider lending an amount to the….

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Loans, Trustee, Trusts

New Arrival, New Will

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Earlier this week, our group gathered to celebrate our colleague’s impending arrival of a new baby. It was a delightful occasion, with cake, presents, and well-wishes. Of course, conversation naturally turned to the preparations that our team member has made for her new addition. Parents-to-be typically spend a lot of time (and money) preparing for the arrival of a child.  They furnish a nursery, fill the freezer with casseroles, test-drive….

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Estate Planning, Guardianship, Trustee, Trusts, Wills

New Year, New Will – and Other Important Moments to Revisit Planning

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Happy 2024  everyone! The start of a new year is often the impetus for individuals to revisit their estate plan.[1]  While this is a worthwhile exercise, it’s important to remember that there are several other key moments that may occur at any point during a given year that should give rise to a review of an estate plan. These events or change in circumstance may not necessarily warrant a new….

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Estate Planning, Executors, Guardianship, Spouse, Trustee, Wills

Non-Resident and Rental Income – Not so Fast.

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When a non-resident of Canada generates rental income from a Canadian rental property, the tenant (or agent for the non-resident) must withhold 25% of the gross rental payment (unless a tax treaty reduces the withholding rate) and remit it to the Canada Revenue Agency by the prescribed date. It’s important to note that no deductions nor credits are permitted thus, the withholding is on the full rental payment. Rental Income….

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Estate Planning, Real Estate, Tax Issues, Trustee
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