Should Alberta Abolish Perpetuities Law?

 Legal News: Alberta, News  Comments Off on Should Alberta Abolish Perpetuities Law?
Mar 242017
 

Alberta Law Reform InstituteThe Alberta Law Reform Institute (ALRI) has published its latest report on the Rule Against Perpetuities. Details can be found at www.alri.ualberta.ca.


What is the Rule Against Perpetuities?

The Rule Against Perpetuities (RAP) is an ancient and complex set of legal rules designed to prevent people from indefinitely tying up land and assets via successive contingent interests of title so that future generations cannot sell, mortgage or enjoy full use of the property. In 1972, Alberta reformed the worst excesses of the rule against perpetuities in our current Perpetuities Act, seeking a reasonable balance between competing interests.

ALRI Recommends Abolishing Perpetuities Law

Following public consultation, the Alberta Law Reform Institute has now released Final Report 110, Abolition of Perpetuities recommending the abolition of perpetuities law in Alberta. The modern availability of court variation of trusts and other interests is a sufficient legal mechanism to balance competing interests in this area. Other provinces have abolished perpetuities law without any apparent major problems.

ALRI invites you to review the Final Report here.

Does Alberta Need a New Trustee Act?

 Legal News: Alberta, News  Comments Off on Does Alberta Need a New Trustee Act?
Feb 282017
 

Does Alberta Need a New Trustee Act?

The Alberta Law Reform Institute (ALRI) has just released their Final Report 109 with recommendations on implementing a new Trustee Act in Alberta. Details can be found at www.alri.ualberta.ca/.


ALRI recommends clear, simple, and comprehensible legislation with its latest publication, Final Report 109 – A New Trustee Act for Alberta.

What is a Trust?

Trusts are used by many Albertans as a way to manage property and assets, both before and after death. Having modern and clear rules for setting up and handling trusts is important to allow Albertans to manage and distribute their property. The current Trustee Act is outdated and has not kept pace with the modern world.

A Trustee Act Tailored for Alberta

ALRI has just released Final Report No. 109 – A New Trustee Act for Alberta. The Report sets out ALRI’s final recommendations for new trustee legislation in Alberta. While based on the Uniform Law Conference of Canada’s Uniform Trustee Act, 2012, ALRI has tailored its recommendations to reflect Alberta’s trusts law and practice.

Recommendations Based on Extensive Consultation

ALRI has relied on the exceptionable feedback from the trusts and estates bar in the province in crafting the final recommendations. The Final Report is distinctly better with input of those trusts professionals who assisted by completing surveys, writing or calling with comments, and participating in presentations and discussions.

The Trustee Act is long overdue for modernization. ALRI is hopeful that new trustee legislation based on its recommendations will be enacted.

ALRI invites you to review Final Report No. 109 – A New Trustee Act for Alberta.

ALRI Report on a New Trustee Act for Alberta

 Legal News: Alberta, News  Comments Off on ALRI Report on a New Trustee Act for Alberta
Nov 272015
 

ALRI logoALRI (Alberta Law Reform Institute) recently published another report – Report for Discussion #28, A New Trustee Act for Alberta.

The report reviews the Uniform Trustee Act prepared by the Uniform Law Conference of Canada, Alberta’s current Trustee Act, and Alberta law and policy. ALRI’s report then recommends that Alberta implement most of the Uniform Trustee Act provision (with certain modifications, clarifications, and enhancements to reflect Alberta law and policy) while also keeping some of the current Trustee Act provisions in the new legislation.

Here are some of the changes that ALRI proposes to the existing trustee legislation:

  • Trustee majority rule as opposed to requiring unanimity,
  • The existence of temporary trustees, and
  • Two standards of care for trustees – one standard for lay trustees and a more onerous standard for professional trustees.

If you haven’t already done so, download the full report and then complete the survey to give ALRI your feedback. Make sure you offer your suggestions before March 31, 2016.

Information provided by Carol Burgess, ALRI Operations Manager.

Arbitration Act: Stay and Appeal Issues

 LESA Update  Comments Off on Arbitration Act: Stay and Appeal Issues
Nov 272013
 

The Alberta Law Reform Institute has published its final recommendations regarding Stay and Appeal Issues in the Arbitration Act based on the consultation following our Report for Discussion on the topic published in 2012.

The Report (Final Report 103- Arbitration Act: Stay and Appeal Issues) explains the reasoning behind the recommendations to repeal specific sections to maintain conceptual consistency within the Arbitration Act. These recommendations reaffirm the two fundamental principles underlying the Act: the principle of party control and the principle of restricted court intervention.  The Report also makes recommendations for dealing with the transitional period for existing arbitration agreements and how the amended Act should be applied.

This Report is available at this link http://goo.gl/21HkOI  All of its reports are available on the Institute website

As a lifelong partner of legal education in Alberta, LESA would like to help promote communication initiatives within the legal community. If you have an initiative or project that would be of interest to the legal community, please contact to Communications Manager Linda Wilkinson at linda.wilkinson@lesa.org.