Estate Planning | All About Estates

INCOME RECEIVED AFTER DEATH

Steven Frye • June 18, 2019 • 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

Testamentary Freedom – A Fundamental Right?

Gillian Fournie • June 12, 2019 • 1 Comment

Whether testamentary autonomy is a constitutionally protected right has not been considered by the courts … until now…..

Testamentary Freedom – A Fundamental Right? Continue Reading »

Dependant Support, Estate Litigation, Estate Planning, Succession Planning, Wills

Estate Planning and Family Law: The Matrimonial Home Part II

Darren Lund • June 7, 2019 • 0 Comments

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….

Estate Planning and Family Law: The Matrimonial Home Part II Continue Reading »

Estate Planning, Family Conflict

Strategies for Distributions for Young Beneficiaries

Scotiatrust • May 30, 2019 • 1 Comment

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….

Strategies for Distributions for Young Beneficiaries Continue Reading »

Estate Planning, Trustee, Trusts, Uncategorized, Wills

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

Steven Frye • May 21, 2019 • 0 Comments

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,….

Is a Sale for $1 the Same as a Gift? Continue Reading »

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

Trust in the Raptors

Peter Meitanis • May 9, 2019 • 0 Comments

Sports/Estates fans, we’re in that period during the year where playoff hockey and basketball overlap with the beginning of the baseball season. A lot of questions come up for fans during this time: He’s making HOW much?How can the team get out of that guy’s contract?What would happen if the Boston Bruins spontaneously combusted in the middle of their playoff game? For this week’s blog, I thought I would cover….

Trust in the Raptors Continue Reading »

Contracts, Estate Planning, In the News, Trusts, Uncategorized