Dependant Support

Total 38 Posts

TAX FREE ROLLOVER “WRINKLES”

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Some recent technical interpretations from the Canada Revenue Agency (“CRA”) remind us that tax free rollover of retirement plans have to be carefully planned and executed to get the desired result. Here are a couple of cases in point: Rollover of a Registered Pension Plan (“RPP”) to an infirm dependent child In a recent technical interpretation, CRA concluded that where a RPP lump sum death benefit is paid from the….

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Canada Revenue Agency, Dependant Support, Estate Administration, Investments, Tax Issues

RRIF rollovers and grandchildren.

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Can RRIF proceeds paid after death to a testamentary trust, and used to purchase an annuity for the deceased’s grandson, qualify for a tax deferred rollover? The Canada Revenue Agency (“CRA”) was recently asked to rule on the following set of circumstances and facts. The grandson’s parents were incapable of caring for him and he was placed in the annuitant’s custody. He lived with the annuitant and she provided financially for all his needs. The….

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Canada Revenue Agency, Dependant Support, Estate Administration, Estate Planning, In the News, Investments, Resulting Trust, Tax Issues, Trustee, Trusts, Wills

Principal Residence – Duplex or Intergenerational House

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The Canada Revenue Agency (CRA) was asked if a duplex occupied by a taxpayer and her aging parent could be treated as the daughter’s taxpayer “principal residence” for the purpose of claiming the principal residence exemption from the capital realized on the sale of the duplex at a later date.
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Canada Revenue Agency, Dependant Support, Disability, Elder Care, Estate Planning, Joint Tenancy, Property, Real Estate, Tax Issues

Divisional Court agrees life insurance policy part of estate

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The Divisional Court recently released its decision in Dagg v. Cameron Estate (the trial decision was previously discussed on this blog here). In brief, the appellant Anastasia Cameron married the deceased, Stephen Cameron, in 2003. They had two children. Stephen took out a life insurance policy in 2010 and named Anastasia as the beneficiary. The couple separated in 2012. Stephen began a relationship with the respondent Evangeline Dagg. Divorce proceedings….

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Dependant Support, Estate Litigation, Succession Planning
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