Estate Planning

Total 1068 Posts

Estate Planning, Trusts, and Family Law

• • 2 Comments

Inter vivos trusts are often used in the estate planning process to manage and preserve family wealth across generations. Within that broad framework, such trusts are used for a variety of reasons. Parents or grandparents may want to establish a vehicle for funding the education costs of future generations. A parent may be concerned about a fraudster taking advantage of an adult child with diminished mental capacity. A business owner….

Estate Planning, Trusts, and Family Law Continue Reading »

Estate Planning, Trusts

“Just in case anything happens while I’m away…”

• • 1 Comment

It’s that time of year again for estate planners: the season of calls from clients about to leave for vacation, who realize that they haven’t updated their Will in years. These clients typically want to make sure they update their documents before departure, “just in case anything happens while I’m away…” I’ve often wondered after working on such a file whether the client’s worry is supported by evidence: are you….

“Just in case anything happens while I’m away…” Continue Reading »

Estate Planning

In Whose Best Interests? Estate Planning for Artists

• • 0 Comments

A recent case involving the estate of Canadian artist and figure skating legend, Toller Cranston (“Toller”), highlights the importance of estate planning for artists.  Administering posthumous intellectual property can be complex and without guidance from the testator, disputes will often arise between trustees and the estate’s beneficiaries due to competing interests. Toller died in 2015 while living in Mexico.  He left no will. Toller was a prolific artist and his….

In Whose Best Interests? Estate Planning for Artists Continue Reading »

Estate Planning, Executors, Wills

The Life of Pipeline Transactions: The Beat Goes On

• • 0 Comments

In the past few years, many associated with this blog have written about the benefit of post-mortem pipeline transactions to avoid double tax on disposition of certain assets. Again, and briefly, a pipeline transaction is a form of transaction whereby the assets of a corporation are distributed to shareholders utilizing the high adjusted cost base resulting from the capital gains realized on death, rather than as a distribution in the….

The Life of Pipeline Transactions: The Beat Goes On Continue Reading »

Canada Revenue Agency, Estate Planning, Investments, Property, Real Estate, Small Business, Tax Issues, Trusts

INCOME RECEIVED AFTER DEATH

• • 0 Comments

Recently, the Canada Revenue Agency released a technical interpretation to clarify the commentary in the T4001 Employer’s Guide – Payroll deductions and Remittances, and the T4011 guide, Preparing Returns for Deceased Persons, in respect of income payable at death but not actually paid until the subsequent year. The CRA confirmed that income payable should only be included in the T4 for the year in which it was actually paid, which….

INCOME RECEIVED AFTER DEATH Continue Reading »

Canada Revenue Agency, Estate Administration, Estate Planning, Tax Issues, Uncategorized
Scroll to Top