Property

Total 144 Posts

Graduated Rate Estates: Does the 36 month rule mean a maximum of 3 taxation years?

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As my fellow bloggers have written, there are now 3 types of testamentary trusts under our tax law: a Graduated Rate Estate (“GRE”), a Qualified Disability Trust (“QDT”) and all other testamentary trusts (“OTT”). Previously, all testamentary trusts were generally taxed in the same way individuals were – at graduated tax rates. Effective January 1, 2016, OTT’s will be taxed at the highest marginal tax rate. However, GRE’s which generally….

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Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, In the News, Investments, Property, Succession Planning, Tax Issues, Trusts, Wills

Principal residence and co-ownership (continued)

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In my last blog on this topic I shared with you the comments of the Canada Revenue Agency (CRA) on an implied agreement between a couple regarding their ownership of a property. The CRA went on to comment on the tax implications of both an actual and a deemed sale…..

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Canada Revenue Agency, Estate Planning, Executors, Joint Tenancy, Property, Tax Issues, Trustee

RESIDENCY OF A TRUST – A QUESTION OF MANAGEMENT AND CONTROL

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As my fellow bloggers have explained in some detail, there are various tenets governing trusts having legal and tax implications depending on the circumstances. One of these is the location of “central management and control” which the Courts have previously ruled as being the basis for determining residency. Recently, the Supreme Court of Newfoundland and Labrador was asked to rule on the specific issue of residency which would have significant….

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Canada Revenue Agency, Estate Administration, Estate Litigation, Estate Planning, Investments, Property, Trustee, Trusts

Interrelation of Family Law and Estate Planning

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With many couples, one or both spouses have had previous marriages or common law relationships. For many reasons, these couples’ estate planning instructions are not usually the traditional “all to my spouse with a gift over to my issue”, and clients should understand how their estat planning decisions may be impacted by family law…..

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Capacity Law, Estate Planning, Family Conflict, Power of Attorney, Property, Spouse, Wills

AVOIDING PROBATE FEES WITH A POWER OF ATTORNEY?

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Much has been written about probate fee avoidance. Can you with a power of attorney engage in probate fee avoidance on behalf of a testator whose estate may be subject to probate fees?
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Capacity Law, Contested wills, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Executors, Guardianship, Joint Tenancy, Power of Attorney, Powers Of Attorney and Guardianship Disputes, Probate Tax, Property, Wills
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