September 2016

CAPITAL DIVIDEND ACCOUNT ELECTIONS AND THE DATE GONE WRONG?

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As I mentioned in a previous blog, the capital dividend account (“CDA”) is often a central feature of tax planning for individuals with private corporations with the opportunity to make tax-free distributions to shareholders on the disposition of certain capital assets. It gains particular focus in estate planning scenarios and eventually in estate and trust administration. As I also mentioned, the management of the CDA is a tricky proposition with….

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Canada Revenue Agency, Estate Administration, Estate Planning, Investments, Liability, Property, Small Business, Succession Planning, Tax Issues, Trusts

JOINT ASSETS: APPRECIATING COMPLEXITY

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The potential pitfalls of using joint ownership of property between parent and adult child as a means of reducing exposure to estate administration tax has received increased attention in recent years, in particular since the Pecore decision. Nevertheless, it is still common (likely the norm) to see parent-adult child joint ownership arrangements where the parent’s intention regarding the beneficial ownership of the asset is not documented. Estate solicitors involved in….

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Estate Planning
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