Trustee

Total 148 Posts

Trustees – it’s time to start gathering information

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With 6 weeks until the end of 2023, it is a good time to remind trustees of their obligations in respect of the trusts that they are responsible for managing and administering. Last year, I wrote a blog where I reminded trustees of discretionary trusts of the importance of documenting income payment decisions before the end of the year. Trustees should start considering what they plan on doing with the….

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Canada Revenue Agency, Estate Administration, Tax Issues, Trustee, Trusts

What Happens if Something Happens to your Executor? – Part Two

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It is very difficult to plan for every possible scenario when you are drafting your will. Not only is it important to consider who to name as your executor, but you also need to think about what would happen if something happened to your executor. In an earlier blog, I looked at what happens if an executor dies before the testator and offered some practical considerations. Today’s blog will explore….

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Estate Administration, Estate Planning, Executors, Trustee

Declaratory Relief – Not Always Available

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Declaratory Relief Defined It is well understood that a court can order a party to do something or order a party to refrain from doing something. Another power of the court is its ability to make declarations. The Court of Appeal for Ontario defined a declaratory judgment in Bryton Capital Corp. GP Ltd. v CIM Bayview Creek Inc., 2023 ONCA 363, as follows: “a formal statement by a court pronouncing….

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Appeals, Contracts, Courts, Estate Administration, Executors, Fiduciary Professions, Trustee

Reviving a revoked will

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It is quite common for a will to begin with a statement that all previous wills and codicils are revoked. This is done to ensure that only the will being executed at that time remains the valid will of the testator, and any prior testamentary instruments no longer desired will not end up being inadvertently  relied upon by a future estate trustee. Less well-known is that a previously revoked will….

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Estate Litigation, Estate Planning, Succession Planning, Trustee, Wills

The Cy-Près Doctrine: When Good Intentions Count For Something

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The cy-près doctrine It is common practice to leave a gift to a charity in your will. However, the charity that the testator wished to support may not have been named properly in the will (leading to confusion about who was supposed to benefit from the funds), or may have ceased to exist by the time the testator died. Where a testator intended to benefit a charity, the courts have….

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Charitable Giving, Estate Administration, Estate Donations, Estate Litigation, Estate Planning, Executors, Philanthropy/Charitable Giving, Trustee, Trusts, Wills

Trust and estates beware of the new Underused Housing Tax

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The recently enacted Underused Housing Tax Act[i] (UHTA) applies a one per cent tax on the ownership of vacant or underused housing in Canada. Per the Canada Revenue Agency’s (CRA) published notification[ii] on Jan 17, 2023, “the vast majority of Canadian owners of residential property are excluded owners and, therefore, do not have any obligations and liabilities under the UHTA. However, the underused housing tax is payable by certain Canadian….

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