Property

Total 144 Posts

Valuing Estate Assets – A Hierarchy of Evidence

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Acting as an estate trustee can be a difficult job. It is often made more difficult when you have to work with a sibling. While the types of disputes co-estate trustees can have with one another are seemingly infinite, one common fight is over valuing an estate asset. Valuing estate assets properly is important – it may impact estate tax, the deceased’s personal taxes, and the sale price of the….

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Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Executors, Family Conflict, Probate Tax, Property, Real Estate, Tax Issues, Trustee, Trustee Disputes

Use of Cottage By Children of Settlor of an Alter Ego/Joint Partner Trust

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Both alter ego and joint partner trusts (the trust) allow a settlor to transfer capital assets into the trust on a tax-deferred basis if the following conditions are met: The trust is created after 1999. The settlor is at least 65 at the time of creation. In the case of an alter ego trust, the settlor must be entitled to receive all the trust’s income that arises before death. In….

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Canada Revenue Agency, Cottage, Estate Administration and Probate Applications, Estate Planning, Executors, Property, Real Estate, Succession Planning, Tax Issues, Trustee

POST MORTEM PLANNING: AGAIN MORE GOOD NEWS

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CRA will allow post-mortem pipeline transactions to continue, which will allow individuals to avoid double tax on disposition of certain assets…..

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Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Planning, Executors, In the News, Investments, Property, Real Estate, Small Business, Succession Planning, Tax Issues, Uncategorized, Wills

SOME TAX TIPS IN THE COVID ERA

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Our epidemiologists and public heath officers are warning us gently that the dreaded virus will be with us for awhile. Nevertheless, we are all hoping that our economy will recover soon (and to some extent our financial markets have), but it appears asset values in general may be depressed for some time to come. In this context, there may some some opportunities to free up some cash flow and/or reduce….

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Business Succession Planning, Canada Revenue Agency, Estate Planning, In the News, Investments, Property, Real Estate, Small Business, Tax Issues, Uncategorized

Gift Ideas for the Freshman in the Family

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This Blog was written by: Alicia Godin, Estate and Trust Consultant, Scotia Wealth Management As we approach mid-August, many students (and parents) have turned their minds to the new school year. Although this year post-secondary education may look slightly different for many students with the switch to online learning, it is nevertheless a milestone worth celebrating. This author has taken the liberty of compiling some gift ideas for young adults….

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Power of Attorney, Property, Uncategorized, Wills
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