Family Dispute Over Estate of Parents
A new client came to Cusimano because of a distressing dispute among family members over the disposition of their parents’ estate. The situation had gone on for several years and was typical of this type of family dynamic. Her company had been voluntarily dissolved by the Ontario Ministry of Consumer & Commercial Affairs because income tax returns that hadn’t been filed for several years. There was ongoing stress among the participants. It was a mess.
The main problem for our client was that, having been dissolved, the company could not legally enter into a settlement and all assets were technically ceased to the crown, which could potentially lead to more delays in settlement. The company needed to be revived, a process that usually takes a month or more. Numerous phone calls with appropriate officials allowed us to get this done in just a few days, to the amazement and relief of our client.
We also needed to resolve the client’s personal situation with the CRA. Again, we were able to help her by initiating what is called a “voluntary disclosure”. Like many people, she was unaware that it s possible to use this strategy when tax returns have not been filed for a number of years.
With the removal of these two obstacles, the estate can now be resolved — and everyone is happy to finally get things settled.