Wills

Total 460 Posts

Are unequal bequests in wills becoming more common?

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Research in the United States has consistently shown that the vast majority of parents intend to divide their estates equally among their children (there appears to be far less research on the topic in Canada). Intriguingly, this is in contrast with inter vivos transfers – research has shown that children are less likely to be treated equally by their parents while they are still alive. The theory for this discrepancy is….

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Estate Administration, Estate Litigation, Estate Planning, Family Conflict, Wills

DYING INTESTATE AND TAX FILINGS

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If you have been a regular reader of our blogs, then I am hoping you have learnt more than a few things about estates and trusts. At the very least, I expect that you now have a will if you didn’t before with executor(s) appointed and beneficiary (ies) designated and so on. What if someone you know or know of dies intestate i.e. without a will and you are asked….

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Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Tax Issues, Trustee, Wills

Is it time to review your Will?

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It’s a new year, and for many, with that comes new resolutions! My fellow blogger, Elaine Blades, recently encouraged those readers who are among the 50% of Canadians without a Will to add “making a Will” to their goals for 2016. If you have a Will, you may also wish to consider adding “reviewing your Will” to your resolution list if: You or your intended beneficiaries have experienced significant family….

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Estate Planning, Wills

Charitable Donations by Graduated Rate Estates – Substituted Property

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The new Canadian tax rules concerning charitable donations of graduated rate estates restrict those donations to gifts of properties acquired by an estate as a result of the death of an individual or of properties substituted for those properties.
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Canada Revenue Agency, Charitable Giving, Estate Planning, Executors, Property, Tax Issues, Wills

More on Graduated Rate Estates

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At a recent conference of the Society of Trust and Estate Practitioners, the Canada Revenue Agency (“CRA”) was asked to respond to certain questions regarding Graduated Rate Estates (GRE’s), in particular around the actual definition of a GRE and its application to a situation where the deceased has more than one will. Definition of a GRE The CRA was asked that while an estate is under administration during its first….

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