Total 94 Posts
The gratuitous transfer of property from a parent to an adult, capable child may result in a resulting trust…..
Of Love, Resulting Trusts, Matrimonial Homes and Fenelon Falls Continue Reading »
Contested wills, Cottage, Estate Administration, Estate Litigation, Estate Planning, Family Conflict, Joint Tenancy, Property, Real Estate, Resulting Trust, Spouse, Succession Planning, Trustee, TrustsMuch has been written in this blog space and many others on this topic. Several times a year (in some years more often than others), we are asked in our practice about to advise on succession or estate planning issues for the family cottage. I was recently alerted to a very good article called How to Estate Plan for the Family Cottage by Tim H. R. Brown of Richard, Buell….
Estate Planning for the Family Cottage Continue Reading »
Cottage, Estate Administration, Estate Planning, Family Conflict, In the News, Investments, Joint Tenancy, Real Estate, Resulting Trust, Tax Issues, Trusts, Uncategorized, Wills
Families often fall into patterns and routines; they are comfortable, stable, and predictable. They can also give rise to legal rights over land. The extent and enforceability of those rights will be put to the test following death or divorce. Such was the case in Tomek v Zabukovec, 2020 ONSC 2930. Joseph Sr. (the “Deceased”) and his wife Mary had two sons, Joseph Jr. (the “Husband”) and Edward. In August….
Constructive Trust and Proprietary Estoppel – Built With Your Own Hands Continue Reading »
Contracts, Estate Litigation, Family Conflict, Property, Real Estate, SpouseIn past blogs, we discussed income splitting arrangements available to individuals who wish to loan funds to his/her lower income spouse or adult child, or in the case of minor children, a discretionary family trust. Such loans would be used to invest in income producing properties such as marketable securities, mutual funds, real estate income trusts (to name a few). The income from these properties less the interest paid on….
Low- Interest Environment: Time To Take Advantage Again. Continue Reading »
Business Succession Planning, Canada Revenue Agency, Estate Planning, Interest, Investments, Loans, Property, Real Estate, Small Business, Spouse, Tax Issues, Trusts, UncategorizedIn a recent blog, I wrote about the availability of Home Buyer’s Plan (HBP) to an individual after the death of her spouse who purchased the matrimonial home. In a recent Technical Interpretation (2019-0819671E5, D. Odubella), the Canada Revenue Agency (CRA) was asked by a taxpayer to review the availability of the HBP to purchase a home that is located in a district where their disabled daughter could attend a….
Home Buyer’s Plan and Disabled Family Member Continue Reading »
Canada Revenue Agency, Dependant Support, Disability, In the News, Real Estate, Spouse, Tax Issues, UncategorizedThe freezing of current share value so that your chosen successors can easily participate in the future growth of your enterprise is a common estate planning technique. What if the value of the frozen shares now exceeds the value of the enterprise as a whole? I wrote about this sometime ago and I think the current economic circumstances create an opportunity to revisit it. The Covid-19 crisis has lead to….
Time to Refreeze: Redux Continue Reading »
Business Succession Planning, Canada Revenue Agency, Estate Planning, In the News, Investments, Property, Real Estate, Small Business, Succession Planning, Tax Issues, Trusts, Uncategorized, Wills