Total 216 Posts
The gratuitous transfer of property from a parent to an adult, capable child may result in a resulting trust…..
Of Love, Resulting Trusts, Matrimonial Homes and Fenelon Falls Continue Reading »
Contested wills, Cottage, Estate Administration, Estate Litigation, Estate Planning, Family Conflict, Joint Tenancy, Property, Real Estate, Resulting Trust, Spouse, Succession Planning, Trustee, TrustsMuch has been written in this blog space and many others on this topic. Several times a year (in some years more often than others), we are asked in our practice about to advise on succession or estate planning issues for the family cottage. I was recently alerted to a very good article called How to Estate Plan for the Family Cottage by Tim H. R. Brown of Richard, Buell….
Estate Planning for the Family Cottage Continue Reading »
Cottage, Estate Administration, Estate Planning, Family Conflict, In the News, Investments, Joint Tenancy, Real Estate, Resulting Trust, Tax Issues, Trusts, Uncategorized, WillsIn Dreger et al v the Queen (2020 TCC25), the beneficiaries of an estate bequest appealed assessments for unpaid taxes by the deceased. In this case, the deceased was an annuitant of a life income fund (“LIF”) and prior to his death, he designated to each of his daughters as his beneficiaries under a beneficiary designation in respect of the LIF. In his will, the deceased named his daughters as….
Someone else’s tax bill – Sometimes there is no getting away from it! Continue Reading »
Canada Revenue Agency, Courts, Estate Administration, Estate Litigation, Executors, Investments, Liability, Tax Issues, Trustee, Trusts, Uncategorized, Wills
Calmusky v. Calmusky, 2020 ONSC 1506, is a 2020 decision of the Ontario Superior Court of Justice that is ruffling some feathers among banks, financial advisors and estate planning lawyers in Ontario. In this case, the court applied the principles surrounding the presumption of resulting trust, established by the Supreme Court of Canada in Pecore v. Pecore, [2007] 1 S.C.R. 795, to two different issues related to a single estate. One….
A Presumptive Peril: The Law of Beneficiary Designations is Now in Flux Continue Reading »
Credibility, Estate Administration, Estate Planning, Family Conflict, Joint Tenancy, Probate Tax, Resulting Trust, Trusts, WillsA lot has been written about how should choose an executor, and some of it in this blog place. A couple of years ago, fellow boggler Emily Hubling wrote eloquently about the risk and rewards of appointing a professional advisor as executor. I would like to revisit some of the points made in the context of appointing a corporate executor, some who is specifically skilled and trained for the role…..
WHAT ABOUT A CORPORATE EXECUTOR? Continue Reading »
Attorney Compensation, Compensation, Credibility, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Fiduciary Professions, Trustee Compensation, Trusts, Uncategorized, WillsA 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….
BARE TRUSTS Continue Reading »
Canada Revenue Agency, Courts, Estate Planning, Investments, Joint Tenancy, Property, Resulting Trust, Tax Issues, Trustee, Trusts, Uncategorized