Give Me My Share!
In our most recent blog post, we discussed the importance of being able to review current and accurate corporate records when preparing an estate plan that involves shares of a private corporation. Re Rudderham 9 D.L.R. (3d) 492 illustrates the problems that can arise if restrictions on the transfer of shares are not known when […]
Corporate Structure and the Business Succession Plan
There are several issues that frequently arise when an estate containing regarding shares of a private corporation is being administered. One of these issues is the ownership structure and it’s bearing on what type of estate plan is possible as well as the steps that must be taken in this regard while testator is still […]
Succession Planning for Business Owners: Sale to a Third Party
You were the budding entrepreneur—a visionary– who had a great idea and started a business from scratch. Or maybe you were one of the lucky ones that inherited a thriving business operation from a relative. Or perhaps you ventured out and bought a struggling business and were able to steadily expand and nurture sustainability and […]
Ms. Trustee, Do It Yourself!
As a general rule, a trustee cannot delegate his or her decision-making authority with respect to the administration and management of trust assets, although the trust instrument may indicate that this was the intention of the settlor (or testator in the case of a will). The formal rule against delegation delegatus non potest delegare simply […]