Sebastien Desmarais

Total 55 Posts

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

Estate Planning & The Changes to the Capital Gain Inclusion Rate

• • 1 Comment

Will the change in the capital gain inclusion rate have any implications to estate planning?  For taxation years that end after June 24, 2024, the capital gains inclusion rate increased from one-half to two-thirds and the change will have some implications in estate planning. Advisors will need to adjust some of their advice and recommendations in light of the changes.  This article will highlight some of the implications resulting from….

Estate Planning & The Changes to the Capital Gain Inclusion Rate Continue Reading »

Estate Planning, Tax Issues

ILIT – An Estate Planning Vehicle for the U.S. Person

• • 0 Comments

An irrevocable life insurance trust (ILIT) is an estate planning vehicle worth some consideration for U.S. citizens living in Canada.  Many estate advisors are unaware that U.S. citizens subscribing to life insurance on their life will have the death benefits included in the value of their taxable estate for U.S. estate tax purposes.  An ILIT may provide an opportunity to avoid such an outcome. What is an ILIT? An ILIT….

ILIT – An Estate Planning Vehicle for the U.S. Person Continue Reading »

Canadian and US Tax Treaty, Estate Planning, Insurance, Succession Planning, Tax Issues, U.S. Citizen, US Taxes

Inheritance Tax – Why should you care?

• • 0 Comments

The Canadian concept of taxing the deceased by deeming a disposition at death is contrary to many countries where the inheritance tax is paid by the heirs upon receiving money or properties from a deceased person. In other words, while Canada taxes the deceased on death, most countries – notably most countries in the European Union (EU) – tax the beneficiaries. Therefore, any proceeds received as a consequence of death….

Inheritance Tax – Why should you care? Continue Reading »

Estate Administration, International, Tax Issues

The Buy-Sell Agreement At Death

• • 0 Comments

Estate and corporate advisors often suggest to shareholders to enter into a shareholders’ agreement. The shareholders’ agreement is essentially a contract where the shareholders plan in advance for certain contingencies or future events for which they are in agreement as to the outcome. Essentially, the shareholders’ agreement governs the shareholders’ relationship and the rules and procedures in case of a dispute or an event, notably, the transfer of shares on….

The Buy-Sell Agreement At Death Continue Reading »

Estate Administration, Estate Planning, Small Business, Tax Issues, Wills

Corporately-Owned Insurance, Redemption Obligations and the U.S. Supreme Court

• • 0 Comments

Canadian estate and tax advisors may want to consider the case Connelly v. Internal Revenue Service, No. 23-146[1] (U.S. 3/27/24).  The U.S. Supreme Court (“SCOTUS”) issued its decision on June 6th and it serves as a good reminder of the implications of corporately-owned life insurance in the context of cross-border tax and estate planning for Canadian estates. The issue focused on the estate tax treatment of corporately-owned life insurance proceeds….

Corporately-Owned Insurance, Redemption Obligations and the U.S. Supreme Court Continue Reading »

Estate Planning, Insurance, IRS, Tax Issues, U.S. Citizen, United States, US Taxes, valuation

Taxation at Death & Capital Losses

• • 0 Comments

Advisors understand that on death, a Canadian resident is deemed to dispose of their assets at fair market value, often resulting in capital gains being triggered.  However, in some instances, capital losses may result. The legal representative of the estate should seek tax advice early if capital losses are triggered on death or if the deceased has capital losses from previous tax years.  There may be a strategic opportunity to….

Taxation at Death & Capital Losses Continue Reading »

Estate Planning, Tax Issues
Scroll to Top