Trusts

Total 213 Posts

New Arrival, New Will

• • 0 Comments

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….

New Arrival, New Will Continue Reading »

Estate Planning, Guardianship, Trustee, Trusts, Wills

Is This a Bare Trust?

• • 3 Comments

Andrew Coates, Associate, Gowling WLG (Canada) LLP Today was supposed to be the due date for untold numbers of T3 returns and Schedule 15s for trusts known as “bare” trusts in existence on December 30, 2023. Not only was it going to be the first year that the Canada Revenue Agency (the “CRA”) required bare trusts to report their existence through the filing of a T3 return, but also the….

Is This a Bare Trust? Continue Reading »

Canada Revenue Agency, Estate Planning, Joint Tenancy, Tax Issues, Trusts, Uncategorized

Tainting The Spousal Trust?

• • 0 Comments

Corporately-owned life insurance is viewed as a key strategic option in tax and estate planning, notably for business owners.  There are several strategic reasons to consider corporately-owned insurance as part of the estate plan, such as equalization among the beneficiaries of their estate or to fund the taxes triggered on death. Essentially, corporate life insurance plays a role in the wealth preservation plan. Another goal of wealth planning is to….

Tainting The Spousal Trust? Continue Reading »

Estate Planning, Insurance, Trusts

PROCEED CAREFULLY – FRAUDULENT CONVEYANCES

• • 0 Comments

Kira Domratchev, Associate Gowling WLG (Canada) LLP I recently came across an interesting decision of the Ontario Superior Court of Justice where the Court used the doctrine of a resulting trust to reach an outcome on a series of events that left a creditor unable to collect an outstanding costs award. LPIC v Fiore et al, 2021 ONSC 7860 was a decision in an action by a plaintiff indemnity company….

PROCEED CAREFULLY – FRAUDULENT CONVEYANCES Continue Reading »

Courts, Credibility, Real Estate, Trusts

Who is the Settlor?

• • 0 Comments

Who is the settlor? A simple question but many take the answer for granted; essentially, the Deed of Trust indicates the settlor and a paragraph confirms the settlor’s intention and defines the settled property. A trust is established only upon the settlor expressing his or her wishes to create a trust and transferring property (referred to as the “settled property”) to the trustees of the trust. Is this sufficient to….

Who is the Settlor? Continue Reading »

Succession Planning, Trusts

Standing to Bring a Trust Claim – When You Need to Sit Down

• • 0 Comments

There are a few occasions when you want someone who is not you to have as much money as possible. The first situation is when you are a beneficiary of their estate. The second situation is when you seeking an equalization payment under the Family Law Act. In both situations, you would want the estate/your former spouse to pursue any trust claims they may have without delay. However, as the….

Standing to Bring a Trust Claim – When You Need to Sit Down Continue Reading »

Estate Litigation, Family Conflict, Resulting Trust, Separation, Spouse, Trusts
Scroll to Top