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Exemption of Future Income Plans, Final Report 91


This report considers whether registered retirement savings plans (RRSPs), deferred profit sharing plans (DPSPs), and registered retirement income funds (RRIFs) should be wholly or partly exempt from creditors’ remedies during the lifetime of the plan holder. This report also considers the exempt status of locked-in retirement accounts (LIRAs), life income funds (LIFs) and locked-in retirement income funds (LRIFs). Draft legislation is included. This report states that insurance and non-insurance RRSPs, DPSPs and RRIFs as defined […]

AREA OF LAW Wills and Succession
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FORMAT Publications
FILE fr091.pdf

May 29, 2004

Exemption of Future Income Plans on Death, Final Report 92


This report deals with creditor protection upon death of the plan holder. The principle issue in this report is whether registered retirement savings plans (RRSPs), registered retirement income funds (RRIFs) and deferred profit sharing plans (DPSPs) should be wholly or partially exempt from the remedies of the creditors of the deceased plan holder. Recommendations apply to all RRSPs, RRIFs and DPSPs and recommendations differ somewhat from the creditor protection that now exists for insurance RRSPs, […]

AREA OF LAW Wills and Succession
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FORMAT Publications
FILE fr092.pdf

Enduring Powers of Attorney: Safeguards Against Abuse, Final Report 88


The Powers of Attorney Act allows a donor of a power of attorney to provide either that the power of attorney will come into effect on the donor’s mental incapacity or infirmity or that the power of attorney will continue in force despite the donors supervening mental incapacity or infirmity. It classifies both springing and continuing powers of attorney as “enduring” powers of attorney (EPA). The great majority of attorneys exercise their control for the donor’s benefit, […]

AREA OF LAW Wills and Succession
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FORMAT Publications
FILE fr088.pdf

February 1, 2003

Enduring Powers of Attorney, Issues Paper 5


The Alberta Law Reform Institute is considering whether to prepare a report and recommendations for the adoption of additional safeguards against abuse of Enduring Powers of Attorney (“EPAs”). In order that its consideration may be properly informed, the Institute solicits the comments and advice of the reader on these two questions: Should the law provide additional safeguards against abuse of Enduring Powers of Attorney (“EPAs”)? If the law should provide additional safeguards, what should the […]

AREA OF LAW Wills and Succession Family Law
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FORMAT Publications
FILE IPNo.5.pdf

February 4, 2002

Non-Resident Trustees Under the Dependent Adults Act, Final Report 86


A trustee under the Dependent Adults Act of Alberta handles some or all of the financial affairs of a dependent adult, depending on the terms of the trusteeship order. An individual cannot be appointed a trustee under the Dependent Adults Act unless the individual is a resident of Alberta. The Act’s prohibition of non-resident trustees creates significant practical difficulties if the only suitable or most suitable potential trustee is a non-resident or if an Alberta trustee is appointed and […]

AREA OF LAW Wills and Succession Family Law
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FORMAT Publications
FILE fr086.pdf

January 29, 2002

Order of Application of Assets in Satisfaction of Debts and Liabilities, Report for Discussion 19


This report considers the payment of a person’s debts out of their estate after their death (at the time of publication). Over hundreds of years, a common law “order of application” had developed, that determined the order in which certain kinds of assets could be applied to pay off a debt, so that, for example, assets that were not given over as a gift to someone would be applied to pay off debts before those […]

AREA OF LAW Wills and Succession Constitutional and Public Law
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FORMAT Publications
FILE rfd19.pdf

September 2, 2001

Wills: Non-Compliance with Formalities, Final Report 84


This report recommends that Alberta courts be given power to admit to probate a will or an alteration, revocation or revival of a will that does not comply with the formalities prescribed by the Wills Act. This “dispensing power” could only be exercised if a court is satisfied by clear and convincing evidence that the testator intended to adopt the document as a will, alteration, revocation or revival. The only formal requirement that could not be […]

AREA OF LAW Wills and Succession
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FORMAT Publications
FILE fr84.pdf

June 29, 2000

Division of Matrimonial Property on Death, Final Report 83


This report addresses the underlying conflict between the principles of matrimonial property law and succession law that causes unfair results for a surviving spouse who under the existing law does not have a cause of action under the Matrimonial Property Act. The surviving spouse of a marriage terminated by death should not have fewer remedies than the spouse in a marriage terminated by divorce. The contribution of a spouse to a marriage should be recognized either […]

AREA OF LAW Wills and Succession Family Law
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FORMAT Publications
FILE fr083.pdf

May 29, 2000

Trustee Investment Powers, Final Report 80


If the instrument that creates a trust does not expressly define the trustee’s powers, section 5 of the Trustee Act defines them. Known as the “legal list”, section 5 states which type of investments a trustee may purchase. The list of permitted investments aims to minimize risk. Many Commonwealth jurisdictions are replacing the legal list concept with the prudent investor approach, and a description of this evolution is included in Chapter 2. The prudent investor method encourages […]

AREA OF LAW Wills and Succession
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FORMAT Publications
FILE fr080.pdf

February 29, 2000

Should a Claim for the Loss of a Chance of Future Earnings Survive Death? Final Report 76


Section 2 of the Survival of Actions Act (SAA) provides that a “cause of action vested in a person survives for the benefit of his estate.” Section 5 of the SAA specifies that “only those damages that resulted in actual financial loss to the deceased or his estate are recoverable.” In Duncan Estate v Baddeley, the Alberta Court of Appeal ruled that the loss of a chance of future earnings was an actual financial loss. This report recommends the SAA be amended […]

AREA OF LAW Wills and Succession
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FORMAT Publications
FILE fr076.pdf

December 29, 1999