Estate Planning

Total 1065 Posts

The Life of Pipeline Transactions: The Beat Goes On

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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….

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

INCOME RECEIVED AFTER DEATH

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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….

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Canada Revenue Agency, Estate Administration, Estate Planning, Tax Issues, Uncategorized

Estate Planning and Family Law: The Matrimonial Home Part II

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In a prior blog, I began a discussion of the use of marriage contracts as part of an integrated estate plan to preserve and protect family wealth. In particular, that blog began a discussion of the legal regime that governs a “matrimonial home” under the Ontario Family Law Act (“FLA”), and how a matrimonial home is treated differently than other property in important respects.[1] This blog continues that discussion. The….

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Estate Planning, Family Conflict

Strategies for Distributions for Young Beneficiaries

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This Blog was written by: Daniel Watts, Estate and Trust Consultant, Scotiatrust I wrote in a previous post about determining an appropriate age for a beneficiary to receive an inheritance (Choosing an Appropriate Age for Young Beneficiaries to Inherit, February 7, 2019). Below, we take that idea a bit further by considering additional approaches rather than a simple, single distribution of all the funds when a beneficiary attains a certain….

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Estate Planning, Trustee, Trusts, Uncategorized, Wills

Is a Sale for $1 the Same as a Gift?

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Most transactions between parties not at arm’s length with each other (often described as related parties, such as family members), the parties to the transaction are subject to a one-sided adjustment where the transaction proceeds does not equal fair market value (“FMV”). If the price exceeds FMV, then the cost to the purchaser is limited to the FMV while the vendor is taxed based on price. If FMV exceeds price,….

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Canada Revenue Agency, Charitable Giving, Costs, Estate Planning, Investments, Property, Tax Issues, Wills
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