Total 497 Posts
Your responsibilities as a trustee or executor of an estate may include completing the tax filings of the deceased and requesting tax clearance prior to the distribution of the estate in accordance with the will terms. Let’s say you find out that the deceased’s tax filings were not all up to date or incomplete and you have read about the possibility of tax penalties.
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In my last blog, I wrote about how you might consider refreezing your existing freeze shares if the enterprise has recently declined in value, so that your chosen successors can participate sooner in the future growth of your enterprise and in the meantime your tax liability can be reduced on the disposition of those shares by you or your estate. Today I would like to write about how you might accomplish a refreeze and provide you with a few words of caution.
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TIME FOR A REFREEZE – PART 2 Continue Reading »
Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Planning, Investments, Small Business, Succession Planning, Tax IssuesIn last months’ Canadian Lawyer Magazine, Warren Porter, owner of Iron Gate Private Wine Management, wrote about wine as a liquid asset. When a wine collector dies, teh collection can be very valuable, and if the collection is not specifically dealt with in the Will, the issue becomes: how does an estate trustee realize this value for the beneficiaries?….
Wine – How Liquid is it Really? Continue Reading »
Charitable Giving, Estate Administration, Executors, Interest, Property, WillsCan a person convicted of murder but found to have been not criminally responsible benefit from the proceeds of an insurance policy held by the deceased? ….
Madness, Murder and Insurance Continue Reading »
Estate Administration, Estate Litigation, In the News, Insurance