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61932.06Prepared by an accountant/lawyer, the mandate of this paper is to help legal advisors better understand and advise settlors or trustees on how to properly deal with the 21 Year Rules. Specifically, the author discusses the policy underlying the Rules, explains their operation and describes some common strategies for dealing with them. This paper is part of a collection presented at LESA’s 48th Annual Refresher: Wills & Estates in 2015.
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61932.05Bill C-43, which received royal assent on December 17, 2014, contains significant changes to the treatment of charitable donations made on death. Many of those changes will result in increased flexibility in allocating donation credits among various taxpayers and taxation years; but some changes are controversial, with wide-ranging impacts on post-mortem estate planning. This paper outlines the most relevant changes, examining their benefits and traps. This paper is part of a collection presented at LESA’s 48th Annual Refresher: Wills & Estates in 2015.
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61932.04Prepared by an accountant, this paper provides a basic review of trusts and their taxation under the Income Tax Act. It then goes on to discuss the latest trust-related changes to the Act – changes that all trust and estate advisors must be aware of. This paper is part of a collection presented at LESA’s 48th Annual Refresher: Wills & Estates in 2015.
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61932.03This two-paper set examines two different issues: when child support obligations become payable by a payor’s estate and the issue of when a potential payor can be said to have stood in the place of a parent in relation to a child. On the first issue, the author describes the leading authority, Burns v Burns, and examines the decisions that came after. On the second issue, he provides a short primer to be used to help lawyers in advising clients on what to consider when entering into a new relationship in which one of the parties is bringing children from a previous relationship. These papers are part of a collection presented at LESA’s 48th Annual Refresher: Wills & Estates in April, 2015.
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61933.06When drafting a trust deed, it is critical to consider what powers a trustee will need to effectively perform his or her duties. Too often the “powers” section of a trust deed is glossed over as “boilerplate” language. Failing to provide a trustee with adequate or appropriate powers can interfere with his or her ability to effectively perform the role of trustee. This paper examines trustee duties and common types of trust powers. It explains the purpose of each and how trustee liability can arise and be avoided. This paper is part of a collection presented in April 2015 at LESA’s Drafting Your First Trust program.
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61933.05What issues must a drafter consider in a trust for multiple beneficiaries that he or she would not otherwise address? A trust with multiple beneficiaries requires a drafter to pay particular attention to the rights of each beneficiary vis a vis their relationship to the trustee and to each other, and their enjoyment of the trust property. This author explores issues surrounding identifying beneficiaries, trustees' duty of impartiality, dealing with missing beneficiaries and beneficiaries' rights to prematurely terminate a trust. A case study is attached. This paper is part of a collection presented in April 2015 at LESA’s Drafting Your First Trust program.
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61933.04This author highlights the key terms every family trust should contain, and the position these trusts take in a corporate setting. He examines specific issues like these: drafting to avoid the application of the attribution rules, drafting to address issues relating to beneficiaries, drafting to address issues relating to the distribution of trust property and drafting to address issues relating to trustee decision-making and powers. This paper is part of a collection presented in April 2015 at LESA’s Drafting Your First Trust program.
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61933.03Recent legislative amendments have continued a trend of increasing complexity of trust taxation issues. This paper provides the tools for trust practitioners to identify tax issues as they arise in trust drafting. The author divides his topics into 2 sections: a general overview of tax issues and a summary of selected tax issues and drafting tips. This paper is part of a collection presented in April 2015 at LESA’s Drafting Your First Trust program.
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61933.02Being retained to set up a trust requires a lawyer to consider certain questions and issues. This paper sets out those issues, including: determining the scope of the retainer, setting fees, the information need to begin drafting, the players to be involved, preparing for the day for settlement of the trust, and how the trust will be administered. Sample trust-related precedents are attached. Bonus: A 13-page research memo representing an overview on trusts (tax planning principles, trust origins, non-tax uses of trusts, and administration of trusts) and a comprehensive sample trust deed. This paper is part of a collection presented in April 2015 at LESA’s Drafting Your First Trust program.
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61933.01As the title suggests, this paper reviews the fundamentals of trust drafting, touching on these and other issues: trust characteristics, the creation of a trust (express versus implied), the elements of a valid trust, common motivations for creating a trust and other issues like perpetuities, accumulations, fraudulent preferences, and issues under the Trustee Act. It also discusses drafting issues and the key parts of a trust deed. Bonus: A comprehensive sample trust deed is attached. This paper is part of a collection presented in April 2015 at LESA’s Drafting Your First Trust program.
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61934.05These materials represent precedents, with observations and annotations, of all of the documents required to be filed in a probate application including: the relevant will, the grant application, supporting affidavit, schedules, affidavit of witness to a will, affidavit of service, and new required notices to affected parties. A Surrogate Checklist and a list of Surrogate fees (effective May 1, 2015) are also attached. This paper is part of a collection presented at LESA’s New Estate Administration Act program held in April, 2015.
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61934.04These materials provide good practical advice for the estate practitioner. They represent examples of situations that practitioners can encounter in everyday practice, and an answer key setting out how the new Estate Administration Act will apply to those scenarios. This paper is part of a collection presented at LESA’s New Estate Administration Act program held in April, 2015.
