Total 495 Posts
The end of the calendar year is a good time for Trustees to review both the investment performance as well as investment objectives of the Trusts for which they are responsible…..
Reviewing investment performance Continue Reading »
Estate Administration, Investments, TrustsNormally, an individual’s personal tax return is due April 30 (or June 15 if the person or a cohabitating spouse has income from a business). Upon death, this does not change unless the date death is after October 31.
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Terminal Return Deadlines Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Planning, ExecutorsIt may be unusual that the first section of the paper that I read, is the Sports section. Not to know how the Leafs did but rather to read the births and deaths…..
The Way We Were-The Obits Continue Reading »
Estate Administration, Estate Planning, Family Conflict, In the NewsWhen the Rules of Civil Procedure require two affidavits why can’t the applicant for a certificate of appointment of estate trustee with a will submit one with all of the required information?….
Are the Rules of Civil Procedure at times to rigidly applied? Continue Reading »
Estate Administration, Estate Administration and Probate ApplicationsIn many cases, the deemed disposition rules cause significant tax liabilities in the year of death. In this case, some relief is available in the sense that income taxes owing for the year of death may be paid in annual instalments (not exceeding ten) with non deductible interest charged at the prescribed rate from the day taxes should have been paid. ….
Payment of Tax Continue Reading »
Canada Revenue Agency, Estate Administration, Estate PlanningGenerally speaking, where property is directly transferred upon death to the deceased’s spouse or common-law partner or a trust for their benefit, such transfers are automatically transferred at cost amount or tax cost amount pursuant to the provisions of the Income Tax Act and no taxable gains on the transfer are incurred. However, there may good reason to elect out of these provisions to trigger taxable capital gains.
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Spousal Rollovers On Death Continue Reading »
Estate Administration, Estate Planning, Executors, Investments, Small Business, Trusts