Trustee

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Estate Trustee Compensation – Discretionary Factors

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Estate trustees are entitled to seek compensation for their work. Unless an exception applies, the court will exercise its discretion to determine the amount…..

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Attorney Compensation, Compensation, Estate Administration, Estate Litigation, Executors, Family Conflict, Fiduciary Professions, Passing Of Trustees’ and Executors’ Accounts, Trustee, Trustee Compensation, Trustee Disputes

Beneficial ownership reporting – beware of penalties

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Proposed regulation subsection 204.2(1) of the Income Tax Act (ITA) introduces a requirement for all trusts, that are required to file a return of income, to provide additional information[1] for each person who, in the year, is a trustee (or protector[2]), beneficiary or settlor[3]. This additional information includes: name, address, date of birth (in the case of an individual other than a trust), and jurisdiction of residence and taxpayer identification….

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Canada Revenue Agency, Trustee

The Value of Canadian Tire “Money” in Estates

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Canadian Tire “money” has been distributed by Canadian Tire stores for almost 65 years. While CT Money is often dismissed, it may be a mistake to ignore the bills as a potential asset of the estate…..

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Estate Administration, Executors, Fiduciary Professions, In the News, Investments, Property, Succession Planning, Trustee, valuation

Software Applications as Aids to the Estates Advisor

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Software Applications as Aids to the Estates Advisor For all of us advisors, there are likely certain types of software applications that we use for our day-to-day tasks: perhaps its Microsoft Outlook for sending emails, or a timekeeping software for recording dockets. And although these programs are leaps and bounds beyond what our advisor ancestors could have imagined for themselves a hundred years ago, as we head deeper into the….

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Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Fiduciary Professions, Passing Of Trustees’ and Executors’ Accounts, Trustee, Wills

The Importance of Fiduciary Duties

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The Oxford Dictionary defines a fiduciary as a person in a position of trust, especially when it involves controlling money or property belonging to others. The law places particular emphasis on the trust relationship between a trustee and a third-party beneficiary. Among other duties, a fiduciary is required to: (1) act in the best interests of the beneficiary, (2) not put their own interests ahead of the beneficiary, and (3)….

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Elder Care, Elder Law, Fiduciary Professions, Guardianship, Liability, Passing Of Trustees’ and Executors’ Accounts, Power of Attorney, Powers Of Attorney and Guardianship Disputes, Trustee

When Leaving Your Premises for Medical Reasons and Never Go Back: Need a Plan

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I do a lot of work in the insurance industry. Recently, I came across a court case which I thik is a cautionary tale for estate planners and executors. In Gregson v. CAA Insurance., 2021 ONSC 3041, Ms. Gregson was a property owner and name insured on March 17,2017 when her property sustained water damage. A plumber determined that the pipes servicing a bathroom sink had a crack in the….

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Capacity Law, Caregiving, Disability, Elder Care, Estate Administration, Estate Planning, Executors, Geriatric Care Management, In the News, Insurance, Power of Attorney, Property, Testamentary Capacity, Trustee
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