Estate Planning and Administration

Part I:

9:00 a.m. Welcome and Introduction from the Chair

9:05 a.m. Estate Planning: Initial Considerations

• First call or contact with potential client – establishing the retainer
• Identifying conflicts and joint retainer issues
• Questions to ask your client and why
  • Gathering information
  • Taking will drafting instructions
• Substantiating capacity – what is your responsibility
• Dealing with undue influence leading to will changes
• Are your client’s instructions problematic for public policy

10:30 a.m. Break

10:45 a.m. Overview of Key Estate Planning Tax Issues 

• Overview of Taxation at Death
• What is a “Graduated Rate Estate”, why is it important and how do you ensure GRE status is maintained
• The taxation of testamentary trusts (trust set up in wills on death):
  • Spousal Trusts
  • Disabled beneficiaries and “Qualified Disability Trusts”
  • Trusts for “spendthrift” and minor children
  • Income Splitting
• Charitable bequests and estate donations – understanding and implementing the rules

12:15 p.m. Lunch

Robin Ellis, Miller Thomson LLP
Rebecca Fisch, RSF Law

Part II:

1:15 p.m. Drafting, Execution, and Reporting Drafting

• The ordering of a Will
• Multiple wills: when to use and how to draft
• Revocation clauses
• RRSP, RRIF, TFSA and insurance designations
  • if and how should these be included in the will?
  • Use of trusts
• Appointment of Executors and Trustees
• Legacies and anti-lapse provisions
• Loans and advances and use of hotchpot provisions
• RESPs

2:45 p.m. Break 

3:00 p.m. Drafting Continued

• Personal effects including memoranda
• Dealing with real property in the will, including use of trusts
• Residue of Estate – avoiding intestacy
• Testamentary trusts – what to include, even-handed rule
• Dealing with Minors in a Will
  • Payments for Minors and Receipt for Payments
  • Guardianship

3:30 p.m. Execution

• Execution of the Will – getting it signed in difficult situations
• Where the Will should be kept
• Keeping a proper file- what documents you need to retain and why

4:00 p.m. Reporting

• Final reporting letter- how to draft and what to include
• Getting paid
• What are your obligations to follow up with the client
• Continuing the relationship: Practice tips on being retained for estate administration services

4:30 p.m. Session Adjourns

Meghan O’Neil, Mills and Mills LLP
Nicole Woodward, Miller Thomson LLP

Part III:

9:00 a.m. Fundamentals of Estate Administration

• Initial Considerations
  • Who is your client?
  • Opening the file
  • Initial meeting
  • Best practices for protecting yourself and your client

• Applications for Certificates of Appointment (“Probate”): what you need to know
  • When is probate required?
    • Initial determination of assets and liabilities
    • Which assets form part of the estate?
  • Ascertainment of heirs on intestacy
  • Applying for a Certificate – who is entitled to notice?
  • Complying with the Estate Administration Tax Act – the Estate Information Return
  • Advertising for Creditors

10:30 a.m. Break

10:45 a.m. Ongoing Administration

• Securing and administering the assets (with and without a certificate)
• Gathering and managing the assets – special considerations for real property and business interests
• Distributing legacies and residuary distributions
• Executor’s compensation
• Releases and Indemnities
• Income tax and the CRA
• Reporting to the estate trustees

12:00 p.m. Program Concludes

Emily Hubling, Fasken
David Mills, Mills and Mills LLP