Monthly Archives: March 2018

Did you know…that if you do not have a Will a Holographic Will can cover you until such time as you have a formalized Will…..

Holographic Will Succession Law Reform Act requires that a holograph will be wholly in the testator’s own handwriting and signed by the testator.[1] This means that a will that is typed out and then signed only by the testator will not be a valid will.  Courts have applied this requirement very strictly to testamentary papers that do not meet the usual requirements of a will. The purpose of this rule is to ensure that the testamentary document represents the authentic last wishes of the testator. This rule also applies when a handwritten testamentary document refers to another typed document. Although […]

Residence of Executor may have important tax consequences on your Estate……

Ontario residents may know that in appointing an executor to carry out the tasks set forth in a will, people automatically consider trustworthiness and reliability, but residency is another attribute that might also be considered important. The Canada Revenue Agency has stated in an interpretation bulletin that the residence of a trust depends on the residence of the trustee. The interpretation applies to decedents’ estates as well. If a person appoints a non-resident of Canada as his or her executor, the estate will not receive preferred tax treatment on Canadian dividends or capital gains, and it may not be able […]