Trusts

Total 213 Posts

Whose Land Is It Anyways? Friends of Toronto Public Cemeteries v. Mount Pleasant Group of Cemeteries

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In a recent decision that pitted a Toronto citizens’ group against cemetery operators, Justice Dunphy found that the cemeteries were publically owned, required public oversight, and were operating beyond the terms of the trust that govern the cemeteries. In 1826, a group sought to buy land to create a non-denominational cemetery to meet the needs of the growing city of York. They petitioned the Legislative Council of Upper Canada and….

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Trusts

Estate Planning for Pets

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Today’s blog was written by K. Thomas Grozinger, LL.B, C.S., TEP[1] Principal Trust Specialist, Professional Practice Group RBC Estate & Trust Services Will the holiday season bring a new pet into the family scene? Pets are often considered part of the family, with one survey suggesting that almost 20% of dog owners celebrate their pet’s birthday![2] So it’s no surprise that Canadians want to make sure that their pets are….

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Estate Planning, In the News, Philanthropy/Charitable Giving, Trusts, Wills

Capital Gains Exemption Purification before a Share Sale: Be Careful about Timing

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Assume a family trust (“Trust”) which has a December year end owns 100% of an operating company (“opco”). A separate corporation (“holdco”), owned by the founders of opco, is a corporate beneficiary of the Trust. Opco is up for sale. Opco has excess funds which may affect the Trust’s and its beneficiaries’ ability to claim the capital gains exemption. A common technique to purify opco for capital gains exemption purposes….

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Canada Revenue Agency, Estate Planning, Investments, Property, Small Business, Succession Planning, Tax Issues, Trusts

Requirement to File a Tax Return Expanded

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As written previously, the requirement to file a tax return for trusts has been expanded. Thanks to new legislation, there are now exceptions to the exception to file. Generally speaking, a trust (other than a trust established by law or judgment) that is resident in Canada must file a tax return, unless the trust had been in existence for less than three months at the end of the year or….

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Canada Revenue Agency, Estate Administration, In the News, Investments, Tax Issues, Trusts

Milne Estate (Re)visited

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Today’s blog was co-authored by Joanna Lindenberg and Ronald Neal The decision of Milne Estate (Re) (“Milne”) caused a stir among the members of the estates bar and solicitors who draft wills, going so far as to illicit an alert from LawPRO. While the Milne decision (which is under appeal) has garnered a great deal of attention and commentary from lawyers (including Justin de Vries’ blog, which you can read….

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Contested wills, Estate Administration and Probate Applications, Estate Planning, Executors, In the News, Succession Planning, Trusts, Wills

Source of Income and the TOSI Rules: Clarification?

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Since the Tax on Split Income (“TOSI”) legislation was released, there has been considerable consternation amongst professionals as to how the rules apply. Even the most sophisticated readers of the legislation agree that it contains provisions that are both ambiguous and somewhat complicated. Somewhat out of exasperation, many deal with the TOSI rules on the assumption that all income amounts received by shareholders, beneficiaries, and partners are subject to TOSI,….

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Canada Revenue Agency, Estate Planning, In the News, Investments, Property, Real Estate, Small Business, Tax Issues, Trusts
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