Estate Administration

Total 493 Posts

Some Ins and Outs of RRSPs & RRIFs Transfers on Death

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Generally the RRSP or RRIF of a deceased can be transferred by specific bequest under the terms of the deceased’s will to a qualifying survivor tax-free. A qualifying survivor would be the deceased annuitant spouse or common-law partner or a financially dependent child or grandchild. When payments from a deceased annuitant’s RRSP are paid to the annuitant’s estate and a qualifying survivor is a beneficiary of  the estate, the deceased….

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Canada Revenue Agency, Estate Administration, Estate Planning, Executors, Investments, Property, RRSP, Tax Issues, Uncategorized, Wills

Today’s Executor is a Digital Executor

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Today’s Executor is a Digital Executor The estates and trusts world has taken notice of the importance of digital assets—there is no question about that. Now that we know that an individual’s digital assets are something that advisors and clients alike need to consider for every estate planning matter, the estates and trusts industry as a whole needs to start to thinking about how to best plan for those digital….

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Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Property, Succession Planning, Trustee, Wills

Hot real estate market can put heat on Executors

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This Blog was written by Suzanna Walter, Estate and Trust Consultant with Scotia Wealth Management There have been many articles written about the dramatic increase in real estate values in Canada. This real estate boom has implications for executors’ administering estates. Maureen Berry in  her article Non-Resident Beneficiaries and Canadian Real Property: Canada’s Hot housing market can increase the work of estate executors reviewed one such implication for Executors who….

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Estate Administration, In the News, Real Estate

Bill 245: Innovative Updates to the Succession Law Reform Act

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Dear readers, As you might recall, last April (of 2020) was the height of the first wave of the COVID-19 pandemic in Ontario. As part of our government’s efforts to keep Ontarians safe while still allowing access to justice, an emergency order was brought at that time to allow virtual witnessing of powers of attorney and wills. These changes were brought on a temporary basis, with the tock-down measures imposed….

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Estate Administration, Estate Planning, In the News, Interest, Uncategorized

The Bank of Nova Scotia Trust Company v. Rogers: A Recent Consideration of the Criminal Forfeiture Rule

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This blog was written by Meghan Carlin, summer student at Fasken LLP. While the law in Canada on the criminal forfeiture rule (or the “slayer rule”) is generally well understood, questions about next steps in the administration of estates where the primary beneficiary has been disentitled may be more difficult to answer. On March 3, 2021, the Ontario Supreme Court released its decision in the case of The Bank of….

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Estate Administration

Inconsistency in CRA policy for dividends paid to a deceased beneficiary

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A recent article discussed taxation anomalies that occur due to timing differences between when a trust receives a dividend and subsequently pays and allocates a dividend to a beneficiary. CRA view 2016-0647621E5 provides that when a trust receives a dividend in the year and subsequently pays and allocates the dividend to a beneficiary in the same year, the allocation of the dividend for tax purposes occurs on December 31 of the year because….

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