20 June 2023 STEP Roundtable Q. 14, 2023-0967371C6 - s.70(6) & Application to Extend -- summary under Subsection 70(6)

What is the process for making a written request to extend the 36-month period under s. 70(6) for the property of the deceased to vest indefeasibly in the surviving spouse or common-law partner or trust, and what should be included in the request?

CRA indicated that a letter should be submitted within the 36-month period which should include particulars including details that will provide the TSO with a clear picture of the reason for the extension request and that CRA will consider the overall reasonableness of the extension request, and whether the duration of the extension is reasonable, based on the barriers faced by the legal representative in having the property vested indefeasibly in spouse, common law partner, or trust.

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