Estate Planning

Total 1065 Posts

Home Care Reform

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Being a provincial jurisdictional issue, health care reform was not a hot button topic during the media’s election coverage. But health care issues and reform are fundamental to the current issues facing our governments, be that at the municipal, provincial or federal level. “Home Care,” that is, support services for those living in their home, is a particular area in need of attention given our aging population. Home care appears….

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Estate Planning

Private Foundation Continuity

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The combination of “private foundation and perpetuity” is a bit like “Fred and Ginger”, always linked in the public mind. Since 2000, however, the charitable status of 1,750 Canadian private foundations has been revoked. Of that number, 1,088 private foundations deregistered on a voluntary basis at the request of trustees or directors. To put these numbers in context, the number of new private foundations registered since 2000 is 2,983. In….

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Estate Planning, Philanthropy/Charitable Giving

More on Graduated Rate Estates

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At a recent conference of the Society of Trust and Estate Practitioners, the Canada Revenue Agency (“CRA”) was asked to respond to certain questions regarding Graduated Rate Estates (GRE’s), in particular around the actual definition of a GRE and its application to a situation where the deceased has more than one will. Definition of a GRE The CRA was asked that while an estate is under administration during its first….

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Business Succession Planning, Canada Revenue Agency, Canadian and US Tax Treaty, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, In the News, Probate Tax, Succession Planning, Tax Issues, Trustee, Trusts, Wills

International Couples, Beware!

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In Burkhardt v. Burkhardt Estate, 2015, the Ontario Superior Court addressed the issue of common habitual residence to determine the wife’s entitlement to her husband’s estate, and in doing so, highlighted the interplay of Family and Estates law in Ontario. The testator, Walter Burkhardt was an entrepreneur who left Germany for Ontario to start a winemaking business. His wife, Irene Burkhardt, refused to join him and continued to reside in….

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Estate Planning, Spouse

Unborn children and the 24 month capital gain exemption test

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In Pellerin (2015 TCC 130) the Tax Court of Canada was asked to determine whether shares sold by a child before his 18th birthday qualified for the capital gains exemption. Taxpayer wins – the Tax Court took the view that the clock starts at the time of conception and had some interesting comments in their decision. One of the tests to be satisfied for one to access their capital capital….

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Estate Planning
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