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Appointing an estate trustee who does not reside in Canada has several negative implications. A non-resident estate trustee is required to post a bond (which is costly and adds delay), and he or she may not be eligible to make certain financial investments available to Canadian residents (e.g., stocks, bonds, Canada Savings Bonds). Even if
More Canadians are incorporating pre-paid funeral arrangements into their estate plan. Also known as an Eligible Funeral Arrangements (EFA). Where Can I Buy a Pre-paid Funeral Contract? A pre-paid funeral contract may be purchased from any person licensed to provide funeral or cemetery services, including a funeral director or owner or operator of a licensed
An implied trust is created without a clear statement of trust by a settlor and rather from an intention presumed or imposed by the courts when a certain set of facts occur. Resulting Trusts A resulting trust occurs where the court presumes a trust was intended. A resulting trust occurs from the legal presumption of
One important reason to make a Will is to appoint a guardian and custodian for your minor children, in case you pass away before they reach the age of majority (18 in Ontario). What Can You Do in Your Will? Many people assume that when you name a guardian and custodian in your Will, that
Blog – Kates Estate – Decision of Justice Gans – 18 November 2020 Yesterday Justice Gans released his decision in the Kates Estate. A hard fought case heard over 9 days in September and October. In his usual edifying choice of words Justice Gans, in particular, had the opportunity to put into practice what he
An estate trustee (also known as an executor) is the person or trust company appointed by you in your Will who upon your death realizes your assets, pays off debts, and distributes your property in accordance with your Will. The estate trustee is chosen when you make your Will, but may be changed as circumstances