Marriage, Separation, and Your Estate Plan
April 9, 2022 By Brian Babcock Are you married? About to be married? About to become separated or divorced? Already separated but not divorced? If you answer any of these questions “yes”, you need to be aware of changes to Ontario’s Succession Law Reform Act that came into effect on January 1st 2022. Prior to […]
What is a Fiduciary?
March 26, 2022 By Brian Babcock “What is a fiduciary?” is even harder to answer than “What is a Trust?”. In the case of both related concepts, there is no single definition that is generally accepted. Instead, we are given descriptions, examples, or tests to determine whether one exists. Unlike trusts, which have been recognized […]
What is a Certificate of Appointment? And do I need one?
Updated March 24, 2022 By Margaret Waddington What is a Certificate of Appointment? A Certificate of Appointment of Estate Trustee with a Will (or Without a Will) used to be referred to as “Letters Probate” and is sometimes referred to as an Estate Certificate. The Certificate of Appointment is a process where the court reviews […]
Is there Doctor-Patient Privilege?
February 27, 2022 By Brian Babcock A court is will make an order for production for inspection of a document that is in the possession of a non-party and is not privileged, if a) the document is relevant to a material issue in the action; and b) it would be unfair to require the moving […]
Trustees and Ethical Investing
February 7, 2022 By Brian Babcock One of the key duties of a trustee, including an estate trustee, is to invest the trust or estate assets. Failure to invest is a breach of trust, for which the trustee may be required to reimburse the estate or beneficiaries. But what do trustees invest in? And what […]
Trusts and Ethical Investing
November 29, 2021 By Brian Babcock Whether you are establishing a trust (by will or while alive), are a beneficiary, or are a trustee, one of the issues of concern might be the trustee’s duty to invest. What investments are allowed? In particular, what if you, whether settlor, trustee or beneficiary, holds strong views either […]
Whose Property Is It? Certainty in Estate Planning
October 16, 2021 By Brian Babcock Except in very limited circumstances, in your will, you may only give away property that you own. This may seem obvious, but we see recurring cases where people fight over whether an asset was truly owned by the deceased person. The most typical disagreement is whether or not the […]
Peace of Mind: Certainty in Estate Planning
October 4, 2021 By Brian Babcock Sometimes a will leaves it unclear “what property is in the trust?” This is particularly important where your will creates a trust in favour of one person for life, with the remainder going to other persons. Ambiguity creates a variety of issues. One of these is illustrated in the […]
Who are Your “Friends”? Certainty in Estate Planning
September 27, 2021 By Brian Babcock A valid trust requires what are called the “three certainties” – certainty of intention to create a trust, certainty of subject matter (what property is in the trust?), and certainty of objects (who are the beneficiaries?). This applies to most gifts in wills, where the property is usually transferred […]
Compensation of Estate Trustees
September 22, 2021 By Brian Babcock Historically, estate trustees were not entitled to be paid for their work unless the will expressly provided for compensation. Now, in Ontario, the opposite applies – unless the will denies or limits trustees’ compensation, the trustees are entitled to reasonable compensation. This is paid out of the residue of […]