Real Estate | All About Estates

Hot real estate market can put heat on Executors

Scotiatrust • June 3, 2021 • 0 Comments

This Blog was written by Suzanna Walter, Estate and Trust Consultant with Scotia Wealth Management There have been many articles written about the dramatic increase in real estate values in Canada. This real estate boom has implications for executors’ administering estates. Maureen Berry in her article Non-Resident Beneficiaries and Canadian Real Property: Canada’s Hot housing market can increase the work of estate executors reviewed one such implication for Executors who….

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Estate Administration, In the News, Real Estate

Valuing Estate Assets – A Hierarchy of Evidence

Gillian Fournie • February 10, 2021 • 0 Comments

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

Derek de Gannes • February 9, 2021 • 0 Comments

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

U.S. Estate tax exposure – it’s political!

John Oakey • December 8, 2020 • 0 Comments

The 2020 U.S. election is over and the votes have been tabulated, and in some counties the votes have even been tabulated more than once. Unless there is some Republican wild card waiting to be plucked out of the proverbial magic hat, then Joe Biden will be inaugurated president of the United States on January 20, 2021, and with President Biden comes a proposed change in tax policy. The headline….

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Estate Planning, Real Estate, Tax Issues, U.S. Citizen, US Taxes