Total 151 Posts
If you’re a frequent reader of this blog, then by now it you should know that acting as a trustee comes with a minefield of obligations and duties. Sorry folks, but I’m adding one more to the pile. The Case In Galea v. Tybel et al., a trustee of a trust located in Ontario sought to wind up the trust and distribute the funds, held for the benefit of a….
The Incapable Foreign Beneficiary Continue Reading »
Guardianship, Trustee, Trusts, Uncategorized
Estate trustees are entitled to seek compensation for their work. Unless an exception applies, the court will exercise its discretion to determine the amount…..
Estate Trustee Compensation – Discretionary Factors Continue Reading »
Attorney Compensation, Compensation, Estate Administration, Estate Litigation, Executors, Family Conflict, Fiduciary Professions, Passing Of Trustees’ and Executors’ Accounts, Trustee, Trustee Compensation, Trustee Disputes
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….
Beneficial ownership reporting – beware of penalties Continue Reading »
Canada Revenue Agency, Trustee
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…..
The Value of Canadian Tire “Money” in Estates Continue Reading »
Estate Administration, Executors, Fiduciary Professions, In the News, Investments, Property, Succession Planning, Trustee, valuation
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….
Software Applications as Aids to the Estates Advisor Continue Reading »
Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Fiduciary Professions, Passing Of Trustees’ and Executors’ Accounts, Trustee, Wills
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)….
The Importance of Fiduciary Duties Continue Reading »
Elder Care, Elder Law, Fiduciary Professions, Guardianship, Liability, Passing Of Trustees’ and Executors’ Accounts, Power of Attorney, Powers Of Attorney and Guardianship Disputes, Trustee