Total 509 Posts
The holiday season is often filled with visiting family, friends and relaxation. It can be that rare moment in the year where our fast-paced lives are put on hold, allowing for an opportunity to regroup and tackle important tasks we’ve been postponing throughout the year. Much like you would schedule a holiday party in your calendar, why not set aside some time to do an overview of your estate planning?….
My husband and I recently went on a trip to Peru to celebrate our 35th wedding anniversary. It was an adventurous 18-day tour, amazing but exhausting. One of my favourite parts was the beginning of our trip when we spent four days at an Amazon jungle lodge. Part of my reason for wanting to go on this trip, and specifically to the Amazon,[1] was because of a John Grisham….
Exploring Estate Planning through The Testament Continue Reading »
Estate Administration, Estate Planning, Family Conflict, Tax Issues, Testamentary Capacity, Wills
There have been many changes since my article on the U.K. Inheritance tax (“IHT”) applying to a Canadian resident. Indeed, we’ve seen a Spring U.K. budget introducing an overhaul of the U.K. resident non-domiciled individuals (“non-doms”) regime, a U.K. election bringing a new government and another Autumn budget. It has been an exhausting few months keeping up with the U.K. tax changes. What does it mean to Canadians? IHT Moving….
U.K. Tax & Inheritance Tax – What’s New? Continue Reading »
Estate Administration, Estate Planning, International, Succession Planning, Tax IssuesSome of you may have read the article written by my colleague, Demetre Vasilounis, back in June of this year about Valve’s incredibly popular game distribution platform, Steam. The platform is selling their games as licences, not as owned games, much to the surprise of the gaming community. This was a spark of many discussions found on Reddit, and Steam’s own discussion forums. If you haven’t read the article, I….
Digital Game Ownership Means No Ownership? Continue Reading »
Estate Administration, Estate Planning, Executors
As a follow-up to my last article on key filing deadlines for estates, this article discusses tax penalties and interest. For executors, missing a tax deadline can come with serious tax implications, notably the application of a penalty and interest. Late Filing Penalty Under the Income Tax Act, there are several sections dealing with the application of penalties. Deadlines are important and there is a penalty equal to five percent….
Penalties Under the Income Tax Act – Executor Beware Continue Reading »
Estate Administration, Executors, Interest, Liability, Tax IssuesAs an estate planning professional, philanthropy is a great tool in your toolkit. However, if your client intends to incorporate philanthropy into their estate plan, the importance of including a cy‑près clause in their Will cannot be understated. If there is no cy‑près clause in the Will and the charity has ceased to exist, an application to the Court must be made for direction as to whether the gift has….
A Reminder of the Importance of a Cy-Près Clause Continue Reading »
Charitable Giving, Courts, Estate Administration, Estate Planning, Philanthropy/Charitable Giving