Estate Planning

Total 1082 Posts

Charitable purposes and estate donations

• • 2 Comments

Estate planning is an exercise in time travel.  It is impossible to predict the future, especially when the time gap between planning and death is often decades.  Fast forward 25 years, a charity may not exist when the estate is distributed. Charity law identified this problem and a solution to it over 500 years ago. The solution is the charitable purpose in a charitable trust.  In trust law there are “object trusts” that….

Charitable purposes and estate donations Continue Reading »

Estate Donations, Estate Planning, Philanthropy/Charitable Giving, Uncategorized

Intergenerational business transfers

• • 2 Comments

Since the introduction of the draft legislation for intergenerational business transfers (IBT) on March 28, 2023, the National tax services team at Baker Tilly Canada has reviewed the IBT rules in detail.  For a convenient summary of the proposed IBT rules, please refer to the following document prepared by the team – Genuine intergenerational transfers – comparison of the rules.  The objective of this blog is to provide an analysis….

Intergenerational business transfers Continue Reading »

Business Succession Planning, Estate Planning, Succession Planning

Analog Art, Analog Assets

• • 2 Comments

For my last blog post, I discussed the potential financial value of an individual’s “personalty” and clauses in wills governing such personalty. While an individual’s more traditional assets may include bank accounts, real estate or vehicles, there may also be some other personal items (e.g. collections) that may have significant financial value for an estate. I’d like to discuss “physical” assets a bit more, this time focusing on assets they….

Analog Art, Analog Assets Continue Reading »

Estate Administration, Estate Planning, Uncategorized, valuation

Atypical Asset Administration (Part 2)

• • 0 Comments

This blog has been written by Sandra Arsenault, Law Clerk at Fasken LLP Welcome back! This is Part 2 of a two-part series on unusual assets and estate administration. For part one, please see my blog post here. Typical assets in an estate consist of real property, automobiles, corporations, investments, cash, jewellery and artwork. What I would call the “easy” stuff. But sometimes there are collections, specialized equipment, intangible assets….

Atypical Asset Administration (Part 2) Continue Reading »

Estate Administration, Estate Litigation, Estate Planning, Executors, Tax Issues, Uncategorized, Wills

Jam Needs a Plan: Estate Planning for Pets

• • 0 Comments
A dog in a red sweater sitting on autumn leaves.

Estate planning for pets has made for some very wealthy animals. Remember the US hotel heiress Leona Hemsley? Known as the Queen of Mean, she left $12 million out of her estimated $5 billion estate to her Maltese lap dog, Trouble. The dog’s inheritance was reduced to $2 million, but still. That was more than enough for the $100,000 spent on Trouble’s care each year. Today’s richest dog is the….

Jam Needs a Plan: Estate Planning for Pets Continue Reading »

Elder Care, Elder Management, Estate Planning, Smart Ageing

Cremation and the Burial or Scattering of Ashes – Things to Consider

• • 1 Comment

I am an avid reader and always learn something new, even when reading for pleasure. The novel I recently finished, Cold, Cold Bones, by Kathy Reichs was no exception. This is the paragraph that piqued my interest: “A woman in Mount Holly was struck by a falling object while wrapping burlap around shrubs in her yard. The object was a small sack. The woman opened the sack. Inside were charred….

Cremation and the Burial or Scattering of Ashes – Things to Consider Continue Reading »

Estate Administration, Estate Planning, Executors, Funeral Planning, Wills
Scroll to Top