Photo Credit: Universal Pictures This blog has been written by Sandra Arsenault, Law Clerk at Fasken LLP If you are the lucky (or more often unlucky) person appointed to administer an Estate, you may have more stress than usual this holiday season. I wrote this blog in hopes….
Executors: Holiday Elf or Grinch? Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Executors, Family Conflict, WillsThis blog has been written by Darren Lund a partner at Fasken LLP. Marriage contracts and cohabitation agreements are an increasingly important aspect of estate planning and wealth preservation. They can be used for a number of reasons and in a variety of contexts. Think of the parents wishing to protect a cash gift to a child to assist with the purchase of a home, the business owner who wants….
How Separate is “Separate as to Property”? Continue Reading »
Estate Planning, Property, Spouse, TrustsThis blog has been written by Rahul Sharma, Partner at Fasken LLP A couple of recent telephone calls reminded me of the perils of estate and tax planning that crosses borders without proper planning. The first case is regrettably quite common. An entrepreneur in the technology sector (we will call him “John”) is a resident of Ontario. John partners with other like-minded, and equally talented, entrepreneurs based in the United….
Exercise Caution: Different Countries – Different Tax Regimes at Death Continue Reading »
Estate Planning, Tax Issues, U.S. Citizen, United States, US TaxesPart I – Personal Attribution This blog has been written by Pritika Deepak /Associate at Fasken LLP Gifting property or making loans to family members is a common way for individuals to transfer and share their wealth with their loved ones. There are, however, several rules in the Income Tax Act (Canada)[1] (the “Act”), commonly referred to as the attribution rules, which prevent or restrict an individual from “income splitting”…..
No good deed goes unpunished by the CRA Continue Reading »
Canada Revenue Agency, Estate Planning, Real Estate, Tax Issues, UncategorizedThis blog has been written by Mohena Singh, Associate at Fasken LLP As an estate planner, one of the most common questions I am asked is, “How do I transfer my house or cottage to my family without paying estate administration tax?” A common way we have seen individuals attempt to accomplish their goal of transferring real property without paying estate administration tax (also known as “probate fees”) is by….
Joint tenancy: a cost-effective or costly measure to save on probate fees? Continue Reading »
Estate Administration, Estate Planning, Joint Tenancy, Probate Tax, Real Estate, WillsToday’s blog is written by Jessica J. Butler, Law Clerk at Fasken LLP TV legend Bob Barker passed away on August 26, 2023 at the age of 99 – just 4 months shy of his 100th birthday. Bob was probably most well known for being the legendary host of the long-running game show The Price is Right (and, like me, you may also have the image of Bob’s right hook….
The Price is…Dependant Relief? Continue Reading »
Charitable Giving, Dependant Support, Estate Administration, Estate Planning