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Category Archives: Estate & Trust

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Equestrian Estoppel

Posted in Estate & Trust
The doctrine of proprietary estoppel was recently revisited by the British Columbia Court of Appeal in Sabey v. Rommel. Mr. Sabey had been interested in learning the sport of dressage, a sort of “horse ballet”, since he was young.  He was given an opportunity to work and study the sport on a farm belonging to [&hellip… Continue Reading

Back From the Dead

Posted in Estate & Trust, In the News, Pets
Earlier this month, a cat living in Tampa, Florida was hit by a car.  Unfortunately, collisions between pets and motor vehicles are not in themselves uncommon.  What is unique about this particular case is that Bart the cat, who was declared dead and buried on January 16, 2015, emerged from his grave five days later, [&hellip… Continue Reading

The Golden Age of Retirement

Posted in Estate & Trust, Estate Planning
By the year 2050, an estimated one third of Canadians will be 60 years of age or older. We were raised thinking of the default retirement age as 65. Regardless of what age they retire at, Canadians have more active lives in retirement than ever before. Nowadays, with people living well into their nineties – [&hellip… Continue Reading

Missing on Purpose?

Posted in Estate & Trust, In the News
The year 2014 sadly witnessed the deaths of a number of well-known individuals, such as Robin Williams, Philip Seymour Hoffman and Casey Kasem, whose estates were chronicled by our blog throughout the year. It was also a year, according to this online report that was “chock-full” of celebrity death hoaxes, among them Miley Cyrus, Hugh Hefner [&hellip… Continue Reading

Helpful Hints for Estate Planning in 2015

Posted in Estate & Trust, Estate Planning, New Years Resolutions
Over the course of the past year, the Toronto Estate Law Blog discussed the considerations involved in proper estate planning. If your New Year’s resolutions include estate planning, the following hints may be useful in 2015: Keep up with Changing Laws. Starting tomorrow, new regulations come into force that deal with the Ontario Estate Administration [&hellip… Continue Reading

What Trust is Right for You?

Posted in Estate & Trust, Estate Planning
Trusts can be useful tools for investors and have many benefits now and into the future. As recently outlined in a Wall Street Journal article, however, it can be tricky to decide what kind of trust to set up. How much discretion do you want your trustees to have? Will you require the trust’s beneficiaries [&hellip… Continue Reading

Nova Scotia on the brink of making a bold move to increase rates of organ donation

Posted in Estate & Trust, Ethical Issues, Health / Medical, In the News, Uncategorized
Organ donation rates across Canada are dismal, really. Canada consistently ranks in the bottom half of industrialized countries where transplants are performed. Many factors affect donation and procurement rates. Spain, Portugal, France and Austria have high organ donation rates because these countries have adopted a ‘presumed consent’ framework whereby organs and tissues are essentially considered [&hellip… Continue Reading

Winding up a Trust

Posted in Estate & Trust
Many people are aware of the rule in Saunders v. Vautier (1841), 41 E.R. 482, which essentially provides that when all potential beneficiaries who may receive an interest in a trust are sui juris (i.e. legally capable), and consent to the variation and/or winding up of a trust, that it is within the rights of [&hellip… Continue Reading

Can spousal rollovers be effected to two spouses on the death of one taxpayer?

Posted in Estate & Trust, Estate Planning
When an individual who is resident in Canada dies, subsection 70(5) of the Income Tax Act (“ITA”) provides for a deemed disposition of that individual’s capital property at fair market value. This often results in capital gains tax being immediately payable by the deceased’s estate. However, subsection 70(6) of the ITA provides for a tax-free [&hellip… Continue Reading

Dead Give Away: Reforms to the Tax Treatment of Charitable Bequests

Posted in Charities, Estate & Trust, Estate Planning
Individuals often include charitable bequests in their estate planning.  Such bequests are typically structured as: Gifts by one’s Will, where the testator directs his or her estate trustees to make a specific charitable gift on his or her behalf (the “Will Gift”); Gift by the testator’s estate where a gift is made at the discretion [&hellip… Continue Reading

Reducing Estate Administration Tax

Posted in Beneficiary Designations, Estate & Trust, Executors and Trustees, News & Events
Well known American thriller author Tom Clancy, known for novels such as The Hunt for Red October, passed away on October 1, 2013 at the age of 66.  Clancy was married to his first wife, with whom he had four children – Michelle, Christine, Kathleen and Thomas, until 1999.  After divorcing his first wife, Clancy [&hellip… Continue Reading

Giving to People Receiving ODSP

Posted in Estate & Trust
The Ontario Disability Support Program, or ODSP, provides income support to Ontarians with disabilities and assistance with finding work or starting a business.  Financial eligibility for ODSP depends both on the applicant’s level of income, and a consideration of his or her assets.  The purpose of these restrictions on income and on assets is to [&hellip… Continue Reading

UPDATE: Cowderoy v. Sorkos Estate Revisited Revisited

Posted in Estate & Trust, Hull on Estate and Succession Planning
On September 7, 2012, we blogged on the trial decision of Cowderoy v. Sorkos Estate.  At trial, the court found that the deceased had repeatedly promised his step-grandchildren his farm and two cottage properties.  Applying the doctrine of proprietary estoppel, the trial judge ordered that the promised properties be conveyed to the grandchildren. This had [&hellip… Continue Reading

Spendthrift Trusts for the Advantage of Beneficiaries

Posted in Estate & Trust, Estate Planning, Trustees
A recent article focused on the writings of Sheena Iyengar when it comes to choice. Ms. Iyengar is a Canadian-born Columbia Business School Professor who has written and presented on the topic of “choice” and how powerful and valued it is in our lives. Choice is important in the areas of both trust settlement [&hellip… Continue Reading

Where There is a Will There is a Way

Posted in Estate & Trust, Wills
We have all heard the story of the shoemaker’s children, where the shoemaker, so preoccupied with making shoes for the town’s feet, forgets to address his own family’s needs. The shoemaker keeps putting ‘make my family shoes’ at the end of his to-do list and never seems to quite reach the end of his list. [&hellip… Continue Reading

The UK Inheritance Tax Debate

Posted in Estate & Trust, In the News
When a resident of the United Kingdom dies, his or her estate may be depleted by the payment of significant levels of inheritance tax.  Though not unique to the UK, inheritance tax is a subject of concern for a great proportion of the British population who expect to receive assets left to them by aging [&hellip… Continue Reading

The Secrets of Lucian Freud’s Estate Planning

Posted in Estate & Trust, Mediators, Trustees
Lucian Freud, the famous German-born British Painter, died on July 20, 2011, leaving an Estate worth roughly £96 million (before taxes and payment of debts).  Freud apparently had “at least 14” children. Freud’s estate was the subject of contentious litigation.  I previously blogged about the proceedings here.  The High Court of England and Wales released [&hellip… Continue Reading