A New Cause of Action or Clarifying an Existing Action? Amendments to Pleadings and Limitation Periods

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When will a court permit amendments to a statement of claim after the expiration of a limitation period? In a recent decision by Justice Lederman, Barcham v. Barcham, the plaintiff and moving party, Lazar Barcham (“Lazar”), sought leave to amend his statement of claim, and an adjournment of the trial of Lazar’s action that was scheduled to start only a few weeks later in February 2016. In his original statement….

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Estate Planning

Credit given for improvement costs funded by beneficary where property owned by a trust

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The Canada Revenue Agency was recently asked whether the cost of capital improvements made to a real property that is held by an inter vivos trust is included in the adjusted cost base (ACB) of the property and in the ACB of the capital interest of the beneficiaries that have borne the cost of the improvements…..

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Canada Revenue Agency, Estate Planning, Executors, Real Estate, Tax Issues

Capacity to execute a Will or POA: “Who and why” may be more important than “what”

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I write as a clinician directed by case law or statutory law when assessing the capacity of a testator or an individual executing Powers of Attorney. The criteria set out in case law (Banks v Goodfellow) for testamentary capacity have traditionally been weighted toward the notion of “what” the testator knows about their assets and their potential beneficiaries.  To be fair, there is a provision (somewhat vague) about the appreciation….

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Capacity Law, Contested wills, Estate Planning, Powers Of Attorney and Guardianship Disputes

INCOME FROM TRUST – WHEN PAYABLE IS NOT PAID

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Fellow bloggers and I have written in the past about how income from a Trust is not deemed payable to a beneficiary (pursuant to relevant sections of the Income tax Act) unless it has been paid to the beneficiary or the beneficiary has the legal right to demand payment during the year. Recently, the Canada Revenue Agency (“CRA”) was asked to review a hypothetical situation related to this issue which….

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

Newly Released RDSP Circular

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On February 10, the CRA released a circular on Registered Disability Savings Plans (RDSPs, or RDSP, in the singular). A RDSP is a plan that provides savings for individuals eligible to receive the disability tax credit (DTC). To qualify for the DTC, a physician must certify that the intended recipient has a “severe and prolonged mental or physical impairment”…..

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Canada Revenue Agency, Estate Administration, Estate Planning
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