Wills

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When is “old enough”? Choosing an age for estate distributions

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I often meet with clients who wish to have Wills prepared which provide for trusts for their children. After explaining the nature of a testamentary trust to the clients, I typically recommend that they select a set age that the child is to receive the capital (or the remainder thereof) of his or her trust, with perhaps additional set ages for partial distributions.[1] In the vast majority of these meetings,….

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Trusts, Wills

You Better Think (Think)…About the Estate Planning Process

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This blog was written by Lara Besharat In August 2018, renowned singer Aretha Franklin died of pancreatic cancer in her home in Detroit, leaving behind an illustrious musical legacy, a strong history of civil rights activism, four children, and an estimated $80-million-dollar fortune. One thing she didn’t leave behind, however, was a will. Or so we thought. For months, it was believed that the Queen of Soul died intestate, going….

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Contested wills, Estate Administration, Estate Litigation, Family Conflict, In the News, Wills

Is a Sale for $1 the Same as a Gift?

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Most transactions between parties not at arm’s length with each other (often described as related parties, such as family members), the parties to the transaction are subject to a one-sided adjustment where the transaction proceeds does not equal fair market value (“FMV”). If the price exceeds FMV, then the cost to the purchaser is limited to the FMV while the vendor is taxed based on price. If FMV exceeds price,….

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Canada Revenue Agency, Charitable Giving, Costs, Estate Planning, Investments, Property, Tax Issues, Wills

Sealing One’s Fate: The Sherman Murders, Probate and Perseverance

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On June 18, 2018, Justice Dunphy made ex parte orders sealing the court files relating to the Sherman Estates. On catching wind of the sealing orders, the Toronto Star, and one of its reporters, Kevin Donovan, brought a motion to terminate the sealing orders. They succeeded on appeal…..

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Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Executors, In the News, Wills

ETDL Appeal is to the Divisional Court – not the Court of Appeal

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What appellate court is the proper forum for an appeal regarding the payment of an estate trustee during litigation’s fees (an “ETDL”)? In Gefen v. Gaertner, 2019 ONCA 233, the Court of Appeal held it was the Divisional Court and not the Court of Appeal. The Gefen Estate (the “Estate”) was embroiled in litigation. The deceased and others had a beneficial interest in various properties which were legally owned by….

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Estate Administration, Estate Litigation, Trusts, Wills

Why Sound Estate Planning is more than Asset Distribution

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This blog was written by Justin Ecclestone, Associate Estate and Trust Consultant with Scotia Wealth Management   Coy Luther Perry “Luke Perry” died on March 4, 2019 at the age of 52. Luke Perry was a renowned Hollywood actor, widely known for his roles in Beverly Hills 90210, The Fifth Element, Buffy the Vampire Slayer, and more recently, his role in Netflix TV Series, Riverdale. Luke Perry suffered a very….

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Estate Administration, In the News, Wills
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