our 10th year
blog anniversary
Just when high-net-worth taxpayers thought that the amount of tax they must pay could not get any higher, the Canadian government brought in new changes to the Alternative Minimum Tax (the “AMT”) regime. Putting aside politics and the arguments for or against the changes to the AMT regime, this blog
In Ontario, as in other jurisdictions, powers of attorney for property are crucial tools for individuals who may become incapable of managing their property and financial affairs. A power of attorney for property grants the power for one or more people (the “attorney(s)”) to act on behalf of the person
All Trustees, whether Estate Trustees or otherwise, have a duty to account to the beneficiaries on whose behalf a trust is being managed. That is to say, those vested with the power to manage property on behalf of others are obligated to provide to the beneficiaries an accounting of their
I previously blogged about executors’ tax compliance responsibilities. In the past two plus years since that blog, there have been a number of changes of which executors and trustees should be aware. This blog provides an overview of key tax compliance responsibilities of executors and trustees and highlights some of
When updating your estate plan, it’s important to consider who will be the key decision-makers on death and on incapacity. Understanding these roles can help you prepare better for your future and make informed decisions about your property and personal care. This blog highlights the responsibilities of fiduciaries in the
In the evening hours of April 1, 1991, on what otherwise may have been a relatively unassuming day in Düsseldorf, Germany, Detlev Karsten Rohwedder was murdered at his home, in cold blood. The case remains unsolved and arguably ranks as Germany’s own version of the JFK assassination – a prominent
An executor is the person appointed to carry out the provisions in a will, including distribution of the estate. A trustee is the person appointed in a will (in the case of testamentary trusts) or other trust document (i.e., an inter vivos trust) to administer a trust for the benefit
On March 14, 1957, the Honourable Walter Harris, Minister of Finance under the Liberal government of Louis St. Laurent, delivered a landmark budget speech to Canada’s House of Commons. Despite John Diefenbaker’s rise to power on June 10, 1957, mere months later, the groundwork was laid for the implementation of
What is the duty to account? This refers to the obligation of persons acting in a fiduciary capacity, such as a trustee, executor or attorney or guardian for property, to keep records of the assets and liabilities they are managing on behalf of others and be able to accurately report
Trusts, and discretionary trusts in particular, are a staple of estate planning for their flexibility and adaptability. They can address a multitude of situations such as: managing assets for spouses, minors, persons with disabilities or vulnerabilities; asset protection and preservation; business wealth and succession; and incentivizing activities such as education.
© 1998 – 2025 by O’Sullivan Estate Lawyers LLP. All rights reserved.
TD Bank Tower Toronto-Dominion Centre
66 Wellington Street West, Suite 3430
P.O. Box 68 Toronto, ON M5K 1E7
CONTACT INFORMATION
Toll Free: 877-593-0064
Phone: 416-363-3336
Fax: 416-363-9570