The first OBA Trusts and Estates Section Brown Bag Lunch of 2022 was held on January 18. The meetings continue to be held virtually, but conversations are still lively, and participants consistently raise fascinating questions and discussion topics.
The BBL began with a reminder to all that the new probate rules and forms came into effect on January 1, 2022. Krystyne Rusek recently published an overview of the changes in the Trusts and Estates Section Newsletter.
One BBLer also shared that CRA had announced a few days prior to the meeting that the new trust beneficiary reporting rules were being deferred and would not come into effect in 2021.
The discussion kicked off with one participant sharing an interesting discovery relating to the Ontario Teachers’ Pension Plan. It appeared to the BBLer that if a teacher had service after 1990 and had a disabled child, the child would ultimately be entitled to the benefit that would be received by the surviving spouse, either upon the death of the spouse or the teacher if there is no surviving spouse at that time. Attendees were interested in this piece of information and thought it could be a great planning opportunity in the right circumstances.
Please log in to read the full article.