September 2015

RESIDENCY OF A TRUST – A QUESTION OF MANAGEMENT AND CONTROL

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As my fellow bloggers have explained in some detail, there are various tenets governing trusts having legal and tax implications depending on the circumstances. One of these is the location of “central management and control” which the Courts have previously ruled as being the basis for determining residency. Recently, the Supreme Court of Newfoundland and Labrador was asked to rule on the specific issue of residency which would have significant….

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Canada Revenue Agency, Estate Administration, Estate Litigation, Estate Planning, Investments, Property, Trustee, Trusts

TRUSTEE DISCRETION PART I

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In my last blog of August 14, 2015 I referred to the discretionary family trust as being one of the key tools in the estate planner’s toolbox. I made this statement given the flexible nature of this tool. I also, however, noted that it is often the case that little time is spent with the creator of the trust to detail their intent as to the circumstances for when the trustee is to make a distribution to a beneficiary…..

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Estate Planning

Caring and Paying in 2 Directions

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As we prepare for the return to school year, you might be in the process of paying your child’s tuition or living expenses. Do you know what raising a child cost? Contrary to the figures below, it doesn’t stop when they reach 18 years of age. In 2011, the average cost of raising a child to 18, was $243,660* or $1,070 per month. For those of us in the sandwich….

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Elder Care, Geriatric Care Management
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