Total 518 Posts
Family feuds are routinely unpleasant and usually ugly. Unfortunately, estate disputes prove the rule. Passions and emotions are inflamed and sound judgment is often in short supply. However, warring litigants who look to the court for absolution or vindication are often sorely disappointed…..
As I mentioned in a previous blog, the capital dividend account (“CDA”) is often a central feature of tax planning for individuals with private corporations with the opportunity to make tax-free distributions to shareholders on the disposition of certain capital assets. It gains particular focus in estate planning scenarios and eventually in estate and trust administration. As I also mentioned, the management of the CDA is a tricky proposition with….
CAPITAL DIVIDEND ACCOUNT ELECTIONS AND THE DATE GONE WRONG? Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Planning, Investments, Liability, Property, Small Business, Succession Planning, Tax Issues, TrustsOne of the many tasks associated with the administration of trusts is making sure all tax payments are made on a timely basis to protect the trust and its beneficiaries from avoid interest and penalties. In this regard, most trusts are required to make installment payments. Prior to 2016 only inter vivos trusts (other than grandfathered inter vivos trusts) were legislatively required to make instalment payments under the relevant sections….
TRUST INSTALLMENT REQUIREMENTS, INTEREST AND PENALTIES Continue Reading »
Estate Administration, Estate Planning, Executors, Interest, Property, Tax Issues, Trustee, TrustsAs part of any administration, it is important for the Executor or Trustee to maintain records of all transactions taking place within the estate or trust….
PASSING OF ACCOUNTS – PART I “WHAT DOES IT MEAN and WHY IS IT NECESSARY?” Continue Reading »
Estate Administration, Estate Litigation, Passing Of Trustees’ and Executors’ AccountsOver the past year, the saga of billionaire Sumner Redstone’s estate and capacity fight has continued to play out in the United States. Redstone, an American media magnate, was the subject of a lawsuit brought by Manuela Herzer, a former girlfriend. Herzer alleged that the CBS Corporation and Viacom owner was incapable, and was being manipulated by his daughter, Shari Redstone. That lawsuit was dismissed in May of this year…..
A typical estate administration can take between 12-18 months and can consume hundreds of hours depending on the complication involved….
Decease and Assist Continue Reading »
Estate Administration, Estate Planning