Estate Planning

Total 1065 Posts

There’s a New Form for That – Form 74G Renunciation and Consent

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It seems as though the estate court forms and court rules are always changing. It is important to be aware of these changes when filing probate applications in Ontario. Today’s blog will explore the new Form 74G Renunciation and Consent, and provide some practical tips and considerations to help navigate this recently introduced form. Form 74G Renunciation and Consent As of April 1, 2024, new Form 74G Renunciation and Consent….

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

Breaking Up is Still Hard to Do?

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This blog has been written by Rahul Sharma, Partner, Fasken Martineau DuMoulin LLP, Toronto Nearly a year ago, I made a post on this blog entitled “Breaking Up is Hard to Do – Ceasing to be a Canadian Tax Resident may be Easier Said than Done” (Breaking Up is Hard to Do – Ceasing to be a Canadian Tax Resident may be Easier Said than Done – All About Estates). ….

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Canada Revenue Agency, Estate Planning, In the News, Investments, Succession Planning, Tax Issues

Recent Cases Applying Section 21.1 of the SLRA

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Having come into force on January 1, 2022, Section 21.1 is a relatively recent addition to the Succession Law Reform Act (“SLRA”). Section 21.1 is a validating provision, which allows the courts discretion to declare a will valid even if it does not meet the formalities of execution set out under section 4 of the same act. Those formalities are as follows: The will must be signed by the testator….

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Estate Administration and Probate Applications, Estate Planning, Succession Planning, Wills

Estate & GST/HST Clearance Certificate

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Section 270 of the Excise Tax Act (the “ETA”) requires a legal representative of an estate to apply for a GST/HST clearance certificate. This is to obtain confirmation that all outstanding GST/HST owing has been paid and satisfied prior to the final distribution of the deceased’s assets. Indeed, if the deceased was a GST/HST registrant (as an example, was operating a sole proprietorship at the time of death) and had….

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Estate Administration, Estate Planning, Executors, Tax Issues, Trustee

Transfers to a corporation can be costly. Beware of corporate attribution.

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Part III – Corporate Attribution This blog post has been written by Pritika Deepak, Associate at Fasken LLP. This is the last part of a three-part blog series which provides a high level overview of the attribution rules contained in the Income Tax Act (Canada)[1] (the “Act”). Part I, which addresses personal attribution and Part II, which speaks to trust attribution, can be found respectively at https://allaboutestates.devrieslitigation.com/no-good-deed-goes-unpunished-by-the-cra/ and https://allaboutestates.devrieslitigation.com/using-a-trust-watch-out-for-attribution/. Part….

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Business Succession Planning, Canada Revenue Agency, Estate Planning, Succession Planning, Tax Issues, Uncategorized

Incomplete and Unprocessed Beneficiary Designation Held Valid

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Anna Chen, Associate, Gowling WLG (Canada) LLP In the recent decision, The Estate of William Harper,[1] the Court was asked to determine whether a two page beneficiary designation form that was missing its first page (the page on which the account number would be indicated) and not processed by the financial institution was valid. Facts William Harper, deceased (the “Deceased”), died on September 5, 2019.  At the time of his….

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Estate Planning, Succession Planning, Uncategorized
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