Sebastien Desmarais

Total 58 Posts

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

Key Tax Deadlines for Estates Matters

• • 0 Comments

One of the responsibilities of an executor is to deal with the final tax return of the deceased and file the tax returns for the estate.  Most tax deadlines are statutory (established in the Income Tax Act) therefore, they are non-negotiable.  The executor should consult a tax advisor early to learn of all tax deadlines relevant to the estate.  The following will provide some guidance: Final T1 of the Deceased:….

Key Tax Deadlines for Estates Matters Continue Reading »

Estate Administration, Executors, Tax Issues, US Taxes

LCGE for Sole Proprietors – When the Exception Makes the Rule

• • 1 Comment

This article is written by Nicole Ewing, Director, Tax & Estate Planning, TD Wealth As professional advisors, we often speak in generalities and paraphrase rules to make our complex worlds more accessible to our clients. But there’s a risk in this oversimplification – sometimes important exceptions become unknown and worse, underutilized. For example, when we consider succession planning options for business owners, the Lifetime Capital Gains Exemption (LCGE) invariably takes centre….

LCGE for Sole Proprietors – When the Exception Makes the Rule Continue Reading »

Estate Planning, Small Business, Tax Issues

Cross-Border Insurance Planning – Some Basics

• • 0 Comments

Cross-border insurance planning is tricky but understanding the basics can go a long way in assisting clients. This short article will review some of the key questions to consider in order to avoid potential pitfalls in life insurance planning. Who is the Owner, the Insured and the Beneficiary In the context of personal insurance planning, it is important to appreciate that there are always three (3) parties involved; the owner,….

Cross-Border Insurance Planning – Some Basics Continue Reading »

Estate Planning, Insurance, International, IRS, Succession Planning, Tax Issues, U.S. Citizen, US Taxes

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
Scroll to Top