Total 1065 Posts
In 1905 Milton Hershey founded the Hershey Trust Company, which has been the majority owner of the Hershey Company. The primary purpose of the $12.3 billion Trust Company is to act as Trustee and support the Milton Hershey School in Hershey, Pennsylvania ….
A Chocolate Covered Trust Company Continue Reading »
Estate Planning, In the News, Succession Planning, Trustee, United StatesSince February 6, 2015 when the Supreme Court of Canada decided in Carter v Canada, 2015 SCC 5 to strike down the ban on assisted dying in the Criminal Code, RSC 1985, c C-46 as being unconstitutional, the government was obligated to legislate who would be eligible to obtain medical assistance in dying, what safeguards ought to be followed to ensure that vulnerable individuals would be protected and to create a system that would monitor accountability, transparency and public trust. After much discussion and consultation on the controversial legislation, on June 17, 2016, Bill C-14 received Royal Assent…..
Medical Assistance in Dying – Where Are We Now? Continue Reading »
Estate PlanningAs 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, TrustsThe potential pitfalls of using joint ownership of property between parent and adult child as a means of reducing exposure to estate administration tax has received increased attention in recent years, in particular since the Pecore decision. Nevertheless, it is still common (likely the norm) to see parent-adult child joint ownership arrangements where the parent’s intention regarding the beneficial ownership of the asset is not documented. Estate solicitors involved in….
JOINT ASSETS: APPRECIATING COMPLEXITY Continue Reading »
Estate PlanningIf someone has a second will pertaining to foreign assets, and the domestic executors either do not know about this second will, or cannot deal with the foreign executors on a timely basis, would the status of the estate as a graduated rate estate (GRE) be invalidated if only the domestic executors elected for the estate to be a GRE?
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More on Graduated Rate Estates Continue Reading »
Canada Revenue Agency, Estate Planning, Executors, WillsEstablishing a scholarship, bursary or other educational award is a popular charitable purpose in estate plans of the charitably-minded. There are two ways to create these awards: 1) establish at an educational institution; or 2) establish at a foundation or charity to target a particular community. Generally educational institutions, particularly at the post-secondary level, do an excellent job of administering awards. In my work, however, I have found a….
Community-based Scholarships Continue Reading »
Estate Planning