Blog/Journal of a Toronto Lawyer Specializing in Estate & Family Lawtag:blogger.com,1999:blog-76809192006-08-04T11:17:05ZBlogger
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trueRobert2006-07-25T14:54:00-04:002006-07-25T19:08:41Z2006-07-25T19:08:41Ztag:blogger.com,1999:blog-7680919.post-115385452122040775Limits to testamentary freedomWe often are told and many of us believe, that we can write a will to include, or not include, whomever we want. However, the more complex society becomes, the less true that testamentary freedom is complete.
In Ontario atleast, and in other parts of the world, there are some restrictions on testamentary freedom.
For instance, if a testator does not provide for the support of his dependants infalseRobert2006-07-25T14:25:00-04:002006-08-02T21:48:36Z2006-07-25T18:42:20Ztag:blogger.com,1999:blog-7680919.post-115385294005643406Joint accounts may not be your best optionRecently the use of Joint accounts - in particular joint bank accounts - has increased as a planning tool. Banks and others are suggesting to elderly and other clients that they consider placing ownership of their accounts in joint tenancy with a child or another person.The main reason seems to be to avoid Estate Administration Tax on the death of the owner of the property.
We should allfalseRobert2005-04-18T16:58:00-04:002006-08-04T09:06:23Z2005-04-18T20:59:06Ztag:blogger.com,1999:blog-7680919.post-111385794642112270As part of estate and tax planning, many people are using joint tenancies and transferring property to their children as a means of planning their estate while alive. However, many of these transfers are open to challenge after the death of the transferor. Other family members will often challenge the transfer on the basis that the Transferor did not really intend the transfer to be a gift - andfalseRobert2005-04-18T16:38:00-04:002005-04-19T14:46:47Z2005-04-18T20:55:52Ztag:blogger.com,1999:blog-7680919.post-111385775233636709Presumption of Resulting TrustAs part of estate and tax planning, many people are using joint tenancies and transferring property to their children as a means of planning their estate while alive. However, many of these transfers are open to challenge after the death of the transferor. Other family members will often challenge the transfer on the basis that the Transferor did not really intend the transfer to be a gift - andfalseRobert2004-12-10T14:56:29-05:002004-12-10T20:40:29Z2004-12-10T20:15:08Ztag:blogger.com,1999:blog-7680919.post-110270970815188199Same Sex Marriage is Consistent with the Charter of Rights and FreedomsThe Supreme Court of Canada, in a unanimous decision, released its decision with respect to the same sex marriage reference, on December 9, 2004. The Government of Canada had requested an opinion from the court as to whether the proposed law to define marriage, for civil purposes, as the "lawful union of two persons to the exclusion of all others", was within the jurisdiction of the Government offalseRobert2004-12-09T15:47:21-05:002004-12-10T19:55:21Z2004-12-09T21:07:16Ztag:blogger.com,1999:blog-7680919.post-110262643647321392Multiple Wills may be a useful planning tool for your estateUpon a review of your estate assets, it may become apparent that your estate would benefit from the drafting of multiple wills.
Often, if a testator has property in more than one jurisdiction, he or she may determine that it is best to have one will for each jurisdiction. Care must be taking to co-ordinate the drafting of these wills, to ensure that all of the property, worldwide, is givenfalseRobert2004-12-09T15:19:26-05:002004-12-10T20:43:26Z2004-12-09T20:41:50Ztag:blogger.com,1999:blog-7680919.post-110262491076584667Other uses of Testamentary insurance trustsTestamentary trusts have a multitude of uses. One valuable and creative use of testamentary insurance trusts, is in the protection of support payments.
There are many more uses for a testamentary trust. One of the main uses of testamentary insurance trusts will be where it is intended that substantial insurance proceeds will be paid for the benefit of children or persons who are otherwisefalseRobert2004-12-08T08:07:06-05:002004-12-10T20:48:06Z2004-12-08T13:41:36Ztag:blogger.com,1999:blog-7680919.post-110251329673753997Testamentary Life Insurance Trusts - a useful vehicle in the protection of support paymentsSeparation agreements often require a spouse, to pay spousal and/or child support. In the separation agreement there is often a paragraph which requires the payer spouse to have in place a set amount of insurance as security for payment of the duty to pay support, in the event that the payer spouse should die before his or her obligations to pay support are complete. In many cases, the separationfalseRobert2004-11-22T15:46:18-05:002004-12-10T14:21:18Z2004-11-22T21:09:34Ztag:blogger.com,1999:blog-7680919.post-110115777424625416RRSPs protected from creditorsA recent decision of the Court of Appeal for Ontario is important to those who wish to plan their estates and especially to those who may have substantial debt and numerous creditors on and prior to their death. In a case known as Amherst Crane Rentals, v. Perring, - the Plaintiff and appellant was a creditor of the estate of the deceased. The respondent was the widow of the deceased. Before hisfalseRobert2004-11-01T10:47:00-05:002006-08-02T18:45:45Z2004-11-01T15:50:51Ztag:blogger.com,1999:blog-7680919.post-109932425149469198Certified Specialist in Estate Planning and administrationRobert Coates has been certified as a specialist in Estate Planning and Estate Adminsitrationfalse