Estate Planning

Total 1065 Posts

Proposed relief for inter-vivos trusts

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A recent letter from officials of Tax Legislation Division provides hope for trusts established for an individual eligible for the Disability Tax Credit (DTC) to qualify for the principal residence exemption. Specifically, the letter addressed concerns raised by an adviser in respect of her client regarding the benefit of the client’s DTC-eligible son, who was otherwise ineligible for the principal residence exemption. On October 3, 2016, income tax measures were….

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Elder Care, Estate Planning, Executors

Is Santa thinking about Estate Planning?

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This blog was written by Hardeep Nandra As we are getting closer and closer to Christmas Eve, Santa is getting ready to deliver the presents. He is ironing his red suit, polishing his boots, and grooming his luscious beard to make a fancy entrance. Time around Christmas brings joy and delight to everyone around the world, but it also brings a huge amount of stress on Santa, to deliver all the….

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Estate Planning

Dead People Who (Still) Make More Money Than You

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  Imagine this – You’re a movie director on the independent film circuit. You need to cast the lead in your latest project, but you’ve spent most of your budget on skinny jeans and fair-trade lattes. You’re looking for someone that personifies being disillusioned, while also being super cool. Someone with star power. Someone ridiculously good-looking. Someone ridiculously cheap. You’re looking for a rebel. Someone so rebellious, that they don’t even….

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Estate Administration, Estate Planning, In the News

Comfort Letter Provides Hope for Non-resident Beneficiaries of Graduated Rate Estates

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A recently released letter from the Department of Finance to the Joint Committee on Taxation recommends changes to enacted tax rules that would provide relief from Canadian withholding tax on estate distributions to non-resident beneficiaries of a graduated rate estate. Budget 2018 included a widened surplus stripping rule applicable to non-residents to ensure the existing rules in section 212.1 of the Income Tax Act could not be frustrated by transactions….

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Canada Revenue Agency, Estate Planning, Executors, Tax Issues

The best laid plans…

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This blog was written by Veronique Thomas-Ewen, Associate Estate and Trust Consultant with Scotia Wealth Management In a carefully planned will, the testator names the spouse as the executor, leaves the family residence and residue to that spouse, but directs the family cottage be held in trust. The spouse has the use and enjoyment of the property and on the spouse’s passing the cottage is to be transferred to the….

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Cottage, Estate Administration, Estate Planning
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