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Taxable Preferred Shares – Some Potential Relief for Specified Amounts

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Andrew Coates, Associate, Gowling WLG (Canada) LLP The potential tax implications of estate trustees finding themselves holding taxable preferred shares (“TPS”) owned by a deceased and the “substantial interest” exception for Part VI.1 tax was explored previously in the March 2, 2021 post, but TPS is a complicated subject so we will discuss another of the exceptions in today’s post: the “specified amount” exception. As a refresher, TPS is defined….

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Succession Planning, Tax Issues, Uncategorized

Wish lists are for more than just the holiday season

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This blog has been written by Mohena Singh [Associate] at Fasken LLP As we near the new year and reflect on another holiday season, many of us may have used this time to spend with family and friends or catch up on some much needed rest and recovery. This time of year also tends to be one filled with gift-giving and showing love to the special people in our lives…..

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Elder Care, Estate Administration, Estate Planning, Family Conflict, Healthcare, Power of Attorney, Powers Of Attorney and Guardianship Disputes, Succession Planning, Uncategorized, Wills

Nuns and Money with Purpose

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[caption id="attachment_20570" align="aligncenter" width="421"] Booth Residence, Cornerstone Housing for Women, Ottawa[/caption] It’s the holidays.  A time for giving, family, and tradition.  The holiday mood inspired me to think about “money with purpose” that passes from one generation to the next – a bit like holiday traditions. Seeing my mother last weekend triggered these thoughts.  She reminded me of a story of how she led a campaign in Ottawa over a decade ago to….

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Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized

Father Time: A Limitation Period Refresher

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As the holiday season is upon us and the new year approaches, many of us are thinking about time. For those in the litigation world, time, and more specifically, limitation periods, should always be top of mind. This blog serves as a refresher for some of the limitation periods that apply to different estate-related issues. Basic Limitation Period It is well known that generally, a proceeding shall not be commenced….

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Contested wills, Courts, Dependant Support, Estate Litigation, Limitation periods, Uncategorized, Wills

Collections as Estate Assets

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For some, collecting is a way of life.  Unique legal and practical issues arise for an executor when an estate includes a collection.  In this article, I explore some of those issues when dealing with collections of fine wine, cultural artifacts, and firearms.   Wine During COVID, the Ontario government made changes to liquor laws that could affect an executor’s role when dealing with a fine wine collection as an….

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Uncategorized

Avoid Becoming Part of a Statistic

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LawPro recently released its report concerning Wills and estates malpractice claims as of the end of 2022.  As we approach the busy year end, I thought it would be helpful to remind practitioners of the most common errors and some risk management tips in that regard. Interestingly (and perhaps somewhat surprisingly), most issues stem from things at occur before or at the initial client meeting. Things that contribute to problems….

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Estate Planning, Liability, Uncategorized, Wills
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