GIFTS - Inter vivos - Validity of transfer - Donative intent

Law360 Canada (August 22, 2023, 6:19 AM EDT) -- Appeal by father from trial judge’s findings that transferred assets were series of gifts from father to son. The appellant argued that the trial judge erred in failing to find that his son was his fiduciary and had acted in breach of his fiduciary obligations by taking monies and properties. Over several years, the father transferred substantial sums of money and some properties to his son. The son effected some of the transfers as his father's attorney. The son used the monies to acquire and develop properties. Years later, the father sued his son and several of his companies. He claimed he transferred the monies to his son so that his son would acquire properties in trust for him and his son had wrongfully misappropriated the monies. He sought damages for breach of fiduciary duty, breach of trust and unjust enrichment, and orders for an accounting, equitable tracing and disgorgement of profits. The trial judge found the transfers were a series of gifts from the father to his son. The trial judge accepted the son’s evidence and of witnesses, all of whom testified that the father had told them he intended to, or had made, the gifts to his son....
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