Gratuitous transfers into joint tenancy and the gift of the right of survivorship: Part IGratuitous transfers into joint tenancy Parents often wish to transfer their real property into joint tenancy with their adult child, or add their child as a co-owner of their bank accounts. The parents may have a number of reasons for... |
Year-End Tax Matters: Annual Trustee MeetingsAs we near the end of the calendar year, trustees of inter vivos trusts (created during a person’s lifetime) such as family trusts or testamentary trusts (created by will) should pass resolutions or meet with co-trustees to ensure that all... |
Alberta’s new Estate Administration ActOn June 1, 2015, Alberta’s new Estate Administration Act (the “Act”) and some consequential amendments to the Surrogate Rules came into force. The Act takes a new approach in clearly setting out the duties, core tasks and notice requirements of... |
Elimination of Graduated Rates for Testamentary TrustsThe 2014 Budget proposes to introduce a number of significant changes to the taxation of trusts and estates which will fundamentally change the landscape of estate planning. The Department of Finance (the “Department”) proposed these changes to eliminate the preferential... |
Alberta Societies Act Amended to Permit Continuance by Non-Profit CorporationsThe Legislative Assembly of Alberta recently passed Bill 12, the Statutes Amendment Act, 2014, into law on May 14, 2014. Among other things, Bill 12 amends the Societies Act to permit non-profit corporations incorporated under corporate statutes outside Alberta to... |
Environmental Liabilities: Executors and Attorneys Beware!By now, most people assume that environmental legislation is based solely on the theory that the “polluter pays”, but few people think about what happens when an executor, attorney or trustee steps into the shoes of a former “polluter”. How... |
Important Changes to Alberta Wills and Estate Law |
Alert: Important Changes to Alberta Wills and Estate Law |
Gifts by Will – Section 118.1(5)On October 7, 2009, Canada Revenue Agency (“CRA”) issued a technical interpretation on: “Whether a gift by will may be claimed in a particular situation, where an individual died and the individual’s will instructed that the residue of the estate... |
Residency of a TrustOn September 10, 2009, the Tax Court of Canada released its decision in Garron Family Trust v. Her Majesty the Queen and several other cases heard on common evidence (“Garron”). The Court held that two Barbados Trusts were resident in... |
Residency of a Charitable Trust |
Gifts Made in Contemplation of Death |
