Fasken LLP

Exercise Caution: Different Countries – Different Tax Regimes at Death

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This 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….

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

No good deed goes unpunished by the CRA

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Part 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”…..

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Canada Revenue Agency, Estate Planning, Real Estate, Tax Issues, Uncategorized

Dearly Departed…or not?

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A recent Toronto Star article[1] highlighted what has become a bit of an interesting viral trend in the modern internet era: “scorched earth” obituaries, written by one or more of a deceased person’s relatives, who do not have anything nice to say in their send-off of the departed. The article provides a few highlights from recent examples, including an obituary prepared by a deceased woman’s children that said “they understand that….

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Estate Administration, Estate Planning, Family Conflict

Joint tenancy: a cost-effective or costly measure to save on probate fees?

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This 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….

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Estate Administration, Estate Planning, Joint Tenancy, Probate Tax, Real Estate, Wills

Charitable Bequests in Wills

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This blog was written by Courtney Lanthier, Law Clerk at Fasken LLP.   We often hear in the news of beloved celebrities passing away after years of lucrative careers. It’s also common to speculate as to how their estate will be distributed. Many celebrities have either left, or plan to leave, the majority of their estate to various charities. Bob Barker, who passed away last month, has left his estate….

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Charitable Giving, Estate Donations, Estate Planning, In the News, Philanthropy/Charitable Giving, Wills

The Genetic Gift: Navigating the Legal Labyrinth of Genetic Material Donation in Canada

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In the ever-evolving landscape of Canadian law, the donation of genetic material presents a complex and multifaceted challenge both in the case of inter vivos donations and posthumous ones. The intersection of property rights, consent, and privacy in this context is not only legally intricate but also laden with ethical considerations.  After a friendly debate about this issue, I thought I would share some of my thoughts.  This post considers….

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Estate Administration, Estate Planning, Property
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