Sebastien Desmarais

Total 53 Posts

Sébastien Desmarais is a Tax and Estate Planner at TD Wealth, Wealth Advisory Services.

Is AI Impacting the Value of Your Business?

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binoculars on a wooden table to express the idea of Elder Care Planning Framework

Artificial intelligence (“AI”) is transforming the business landscape at a remarkable pace. While much has been written about the opportunities AI can create, less attention has been given to the ways it can reduce the value of a small or family-owned business when it is poorly implemented (or simply ignored), weakly governed, or not aligned with changing market expectations. Refinancing and Business Value When AI contributes to a decline in….

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Estate Planning, Small Business, valuation

Life Insurance & U.S. Citizens

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Scotiatrust

When considering life insurance, it’s important to ask: are you a U.S. citizen? The reason for this question is that U.S. citizens who own foreign life insurance policies face a surprisingly complex tax landscape. Unlike domestic policies—which generally enjoy favorable tax deferral and simplified reporting—foreign life insurance contracts (i.e. non-U.S. life insurance) are subject to increased scrutiny, more extensive reporting requirements, and in some cases, U.S. excise taxes. What is….

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Estate Administration, Insurance, Succession Planning, Tax Issues, U.S. Citizen, United States, US Taxes

The Principal Residence Exemption and U.S. Citizens

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A U.S. citizen living in Canada is in a uniquely complex position when it comes to the taxation of their principal residence. While both countries provide tax relief for gains on a “principal residence,” the interaction between the two systems often creates unexpected cross-border tax consequences. Canadian Principal Residence Exemption The principal residence exemption (PRE) is one of the most well-known and generous provisions in the Canadian tax system. If….

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Canadian and US Tax Treaty, IRS, Real Estate, U.S. Citizen, United States, US Taxes

Estate Freeze & U.S. Citizens

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Scotiatrust

Before recommending an estate freeze to a client, advisors should first ask them a simple question: Are you a U.S. citizen? By failing to ask this question, advisors may be overlooking significant cross-border tax implications. While an estate freeze can be an effective tool for succession planning, it can come with a number of complex and sometimes punitive U.S. tax consequences when the freezor is a U.S. citizen. This article….

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Business Succession Planning, Estate Planning, Tax Issues, U.S. Citizen, United States, US Taxes

Dust Off The Shareholders’ Agreement

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It is common to suggest shareholders enter into a shareholders’ agreement, where each shareholder assumes certain rights and obligations relating to the business of the corporation. The shareholders’ agreement typically includes provisions dealing with the management of the business and future transfers of shares upon death or other circumstances. Unfortunately, once the shareholders’ agreement is signed, it is often filed in the corporate minute book and never reviewed by the signatories. There….

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Business Succession Planning, Contracts, Estate Planning, Succession Planning

Succession of the Family Business – Don’t Overlook Governance

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Successful entrepreneurs often view the family business as the crown jewel to their legacy for the next generation(s). As such, succession planning for the family business and preserving the family’s wealth is always a top priority and often encompasses tax and estate planning. Implementing a succession plan that will ensure the continuation of the family business while preserving the family’s wealth can be challenging for professional advisors who are assisting….

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Business Succession Planning, Estate Planning, Family Conflict
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