Post Mortem Pipeline Planning – Business Continuity

Recently, a fellow blogger wrote about the benefit of post-mortem pipeline transactions to avoid double tax on disposition of certain assets. Briefly, a pipeline transaction is a form of transaction whereby the assets of a corporation are distributed to shareholders utilizing the high adjusted cost base resulting from the capital gains realized on death, rather than as a distribution in the form of a dividend. In this sense, the use….

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Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Investments, Property, Real Estate, Succession Planning, Tax Issues

JOINT AND SEVERAL LIABILITY FOR TAXES

As part of the estate planning process an assessment ought to made of how the income taxes and other liabilities of the client will be met on his or her passing. Often clients will ask whether any of their family members can become liable for their income taxes and other liabilities on their death. The answer is “yes” a beneficiary of an estate who has received property in priority to the satisfaction of the deceased’s liabilities can be called upon to return property received from the estate. This position is subject to the beneficiary having any equitable defenses available to a claim by a creditor or to any statutory protections available…..

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Estate Planning

Robots are Judging You

The legal test for testamentary capacity is well-established in Ontario. In making a determination of whether or not an individual had the capacity to make a will, the evidence of a certified capacity assessor is often given great deal of weight. However, scientific developments have led to a new type of assessor of a person’s mental health. Meet Ludwig, an artificially intelligent robot who was created to track and monitor signs of Alzheimer’s disease or dementia…..

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Capacity Law, Elder Care, Elder Law, Testamentary Capacity, Wills
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