Hull & Hull LLP - Breakfast Series
On Monday morning Hull & Hull LLP hosted its latest Breakfast Series covering notable issues and salient case-law in the estates area.
Justin W. de Vries spoke first on Pecore v. Pecore, [2007] S.C.J. No. 17 (QL) and Madsen Estate v. Saylor, [2007] S.C.J. No. 18 (QL), two compelling decisions of the Supreme Court of Canada, and in that regard provided an effective and comprehensive analysis of the Court’s new take on the presumption of resulting trust and advancement. Justin’s paper also contains a succinct review of other recent cases you should consider reading.
Craig Vander Zee followed with a discussion about demand promissory notes and the limitation period issues in respect of the enforcement of such notes, particularly in light of the language of the new Limitations Act, S.O. 2002, c. 24. In so doing, Craig reviewed the Court of Appeal decision in Hare v. Hare [2006] O.J. No. 5502. He finished off by informing us about how this issue impacts estate matters and highlighted considerations parties to promissory notes might want to take into account.
Sean Graham ended the presentation with his thoughts on reasons to delay estate distribution. Three important incentives he touched upon are the risks of an increase in resulting trust claims as a result of the Pecore decision, exacerbated by the fact that there may be no limitation period to such claims; foreign tax issues raised by foreign assets and foreign beneficiaries; and dependant support claims.
The presenters’ papers will be made available on our Hull & Hull LLP website. I highly recommend them all.
Have a nice day,
Natalia R. Angelini
Justin W. de Vries spoke first on Pecore v. Pecore, [2007] S.C.J. No. 17 (QL) and Madsen Estate v. Saylor, [2007] S.C.J. No. 18 (QL), two compelling decisions of the Supreme Court of Canada, and in that regard provided an effective and comprehensive analysis of the Court’s new take on the presumption of resulting trust and advancement. Justin’s paper also contains a succinct review of other recent cases you should consider reading.
Craig Vander Zee followed with a discussion about demand promissory notes and the limitation period issues in respect of the enforcement of such notes, particularly in light of the language of the new Limitations Act, S.O. 2002, c. 24. In so doing, Craig reviewed the Court of Appeal decision in Hare v. Hare [2006] O.J. No. 5502. He finished off by informing us about how this issue impacts estate matters and highlighted considerations parties to promissory notes might want to take into account.
Sean Graham ended the presentation with his thoughts on reasons to delay estate distribution. Three important incentives he touched upon are the risks of an increase in resulting trust claims as a result of the Pecore decision, exacerbated by the fact that there may be no limitation period to such claims; foreign tax issues raised by foreign assets and foreign beneficiaries; and dependant support claims.
The presenters’ papers will be made available on our Hull & Hull LLP website. I highly recommend them all.
Have a nice day,
Natalia R. Angelini
