Estate Planning

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Spousal Rollovers On Death

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Generally 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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Estate Administration, Estate Planning, Executors, Investments, Small Business, Trusts

Werbenuk v. Werbenuk: Righting a Will’s (and a testator’s) Wrongs

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A testator excludes his 4 adult daughters from his estate, leaving everything to his son. A B.C. court effectively redistributes the estate equally between the testator’s children. Can this happen in Ontario too?….

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Contested wills, Estate Litigation, Estate Planning, Family Conflict, Succession Planning, Wills

RRSP contributions in the year of death

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Much has been written by the contributors to this blog about the various taxes arising in the year of death. As a tax adviser I will look for a way to either reduce the final tax or, at a minimum, defer some of the final tax to a later time. One such way of deferring the tax arising on death is for the executor to make one final registered retirement savings plan (RRSP) contribution for the year in which a person has died.
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Estate Planning
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