Tag: Trust

30 Oct

Rolling Assets Into Trust – Hull on Estate and Sucession Planning Podcast #84

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Listen to Episode 84 – Rolling Assets Into Trust
This week on Hull on Estate and Succession Planning, Ian and Suzana further last week’s discussion on trusts and tax planning wills by illustrating the benefits of rolling over assets and being conscious of tainted trusts.

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29 Oct

Recovering “Gifts”

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In the recent case of Gubo Estate v. Cotroneo, the Court considered a claim on behalf of an estate for the recovery of funds advanced by the deceased to her boyfriend.

The deceased had sold her home and had given the proceeds of sale, being $65,000, to her boyfriend, and then moved into his home.

The Court found that there was insufficient evidence to establish that the advance was a gift. 

As to a remedy, the Court heard evidence that the advance was likely for the purpose of defeating creditors of the deceased. As such, the Court declined to apply the doctrine of resulting trusts, applying a Court of Appeal statement to the effect that "evidence of an illegal scheme will not be received to support a resulting trust."

However, the Court found that it was not necessary to rely on the doctrine of resulting trusts. The Court found that it was able to make a monetary award, and granted judgment in favour of the deceased’s estate.

In advancing a claim on behalf of an estate, the imposition of a trust is not always necessary, and a monetary award will often be the most appropriate remedy.

Have a great day,

Paul Trudelle

11 Sep

Pet Trust Funds – Hull on Estates Podcast #76

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Listen to "Pet Trust Funds"
Read the transcribed version of "Pet Trust Funds"

In this episode of Hull on Estates, Ian and Suzana talk about a few case studies, the topic of substantial gifts to animals, and the community of podcasting.

Click "Continue Reading" for the transcribed version of the podcast.

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12 Jun

Rules of Conduct – An Estates’ Perspective: An Introduction to the ACTEC Model Rules of Conduct and the Commentaries- Part II

Suzana Popovic-Montag Uncategorized Tags: , , , , , , , 0 Comments

In addition to the basic themes of the Commentaries (see our June 9, 2006 blog), they also reflect the role that the trusts and estates lawyer has traditionally played as the lawyer for members of the family. In that role, a trusts and estates lawyer frequently represents the fiduciary of a Trust or an Estate and one or more of the beneficiaries.

In drafting the Commentaries, the authors have attempted to express views that are consistent with the spirit of the MRPC (Model Rules of Professional Conduct) as evidenced in the following passage:

"The Rules of Professional Conduct are rules of reason. They should be interpreted with reference to the purposes of legal representation and the law itself."

The editors note (at page 1 of the Commentaries) that a goal of the Commentaries is to encourage a full discussion between a lawyer and a client as to the scope and the cost of the representation. Furthermore, the duties of trusts and estates lawyers are also carefully considered and described. In the U.S. jurisdictions, many of the parameters of the duties of estates and trusts lawyers are set out by opinions rendered in malpractice cases, which provide some guidance regarding some of the ethical duties of the lawyer as well.

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