Wills, Trusts & Estates
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October 31, 2024
AI’s (in)ability to reason and what it means for lawyers
One of the most difficult aspects of my role at Fasken is telling lawyers that their great idea for the use of artificial intelligence (AI) in their practice is not possible today and may not be possible for some time to come. (Note: Although not all AI is generative AI, for the purpose of this article, they’ll be used largely interchangeably as they often are in day-to-day life.)
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October 30, 2024
The Ontario Land Tribunal: A gradual erosion of access to justice | Brian Cook
Once upon a time in Ontario, there was a robust tribunal system dedicated to environmental and planning issues. While by no means perfect, the system featured adjudicators who had subject matter and dispute resolution expertise. It was possible for citizens and community groups to appeal local land use decisions to what is now the Ontario Land Tribunal and participate in hearings by presenting oral testimony and making submissions.
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October 29, 2024
Canada sanctions weapons & aid suppliers to Myanmar military after hundreds of civilians bombed
In coordination with the EU and the U.K., Canada has imposed sanctions under the Special Economic Measures (Burma) Regulations against three individuals and four entities for supplying weapons and military equipment to Myanmar’s military.
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October 29, 2024
When a holding company makes sense in estate law
The preparation of a will to direct and manage the transfer of assets between a person and their beneficiaries is often the primary focus in the estate planning process. What is not always considered by many is the role proper estate planning plays in the preservation of wealth and the minimization of taxes on the transfer of those assets.
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October 28, 2024
Family violence against kids, youths and seniors hits highwater mark in 2023: Statistics Canada
Statistics Canada has painted a troubling statistical picture of the trends in family violence that were reported to police last year.
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October 25, 2024
Grey divorces: What’s unique about them? Part two
In the first of this two-part series, we covered some of the bread-and-butter legal aspects of that have to be covered in any divorce but may take more prominence when the spouses are older (see below for link to part one). These topics include the impact of any domestic contract and whether both spouses have legal capacity.
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October 24, 2024
Estate freezes: An icebreaker
Parents who run a family business often wish to pass that business and its proceeds on to their children. However, simply transferring the shares of the business to their children through their wills is often costly, chiefly due to the tax liabilities incurred by the estate. Several tax planning strategies have been developed to mitigate these tax liabilities. One of these strategies is known as an “estate freeze.”
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October 21, 2024
Will-making power may be delegated under new legislation
Earlier this year, New Brunswick made history by becoming the first province in Canada to enact legislation that permits the delegation of the testamentary power to make, amend or revoke a will. The Supported Decision-Making and Representation Act, SNB 2022, c 60, New Brunswick’s new legislative scheme for substitute decision-making, gives the Court of King’s Bench in that province the power to authorize the delegation of the testamentary power for both wills and beneficiary designations.
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October 17, 2024
The succession rights of unborn children: Children conceived posthumously
With the advancement of technology and new reproductive systems, sperm, eggs and embryos can all be frozen and used later in life. More and more people are now availing of these technologies to be able to conceive later. This would mean assisted reproductive technology can be used to conceive children after a person has passed. Therefore, in addition to posthumous birth, now there are also scenarios involving posthumous conception.
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October 15, 2024
OSFI: Pension plan solvency ratios, share of fully funded pension plans up in 2023-24
The share of underfunded pension plans in Canada at the end of 2023 fell to 11 per cent from 17 per cent in 2022 as the average solvency position of pension plans improved for a third consecutive year, according to the annual report of the Office of the Superintendent of Financial Institutions (OSFI).