When someone seeks to overturn the last will and testament of a deceased, the process is known as challenging a will. Usually, the common grounds for challenging the validity of …
The precise nature of the executor/trustee/personal representative’s obligation to advise the surviving spouse is not clear. If the estate trustee is responsible only to the estate and its beneficiaries, he …
Court Orders The court has extensive powers to enforce the equalization order, Family Law Act (FLA) section 9. It can order: Money to be paid; Security to be given; Payment …
Continuing the discussion of the effects of a Family Law election on various aspects of estate administration; its effect on intestacy is now reviewed. Effect on Intestacy In an intestacy …
It cannot be stressed enough how important it is for the surviving spouse to establish his or her entitlement to insurance proceeds and to survivorship benefits under pension and similar …
The Equalization Claim A right for the surviving spouse to make an equalization claim under the Family Law Act (“FLA”), subsection 70(1)(b), is possible only due to the death of …
The Impact of the Family Law Act on Estate Administration The administration of estates became very complicated with the enactment of Ontario’s Family Law Act (“FLA”) in 1986. Before that, …
Taxation of Beneficiaries Under subsection 104(13) of the Canadian Income Tax Act (“ITA”), the income of a trust or estate that is paid or payable to a beneficiary is taxed …
Trusts and Attribution The attribution rules for trusts, transferors, and so on are given in Subsections 74.1(1) and 74.2(2) of the Canadian Income Tax Act (“ITA”). These rules are meant …
If capital property of a taxpayer is transferred to a qualifying inter vivos spousal trust, s.73(1) of the ITA permits the property to be transferred at its adjusted cost base. …