Succession Planning

Total 151 Posts

CAPITAL DIVIDEND ACCOUNT ELECTIONS AND THE DATE GONE WRONG?

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As I mentioned in a previous blog, the capital dividend account (“CDA”) is often a central feature of tax planning for individuals with private corporations with the opportunity to make tax-free distributions to shareholders on the disposition of certain capital assets. It gains particular focus in estate planning scenarios and eventually in estate and trust administration. As I also mentioned, the management of the CDA is a tricky proposition with….

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Canada Revenue Agency, Estate Administration, Estate Planning, Investments, Liability, Property, Small Business, Succession Planning, Tax Issues, Trusts

Determining the CAPITAL DIVIDEND ACCOUNT BALANCE: no longer a shot in the dark?

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The capital dividend account (“CDA”) is a tax free surplus account within a private corporation which gives shareholders designated capital dividends, tax-free. The CDA typically contains the non-taxable portion of the company’s capital gains net of capital losses, capital gains received by other companies, proceeds of life insurance on death and other capital like distributions. The CDA account is often a central feature of tax planning for individuals with private….

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Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Estate Planning, In the News, Investments, Small Business, Succession Planning, Tax Issues, Trusts

SHARES ISSUED FOR NOMIMAL CONSIDERATION: BE WARY OF VALUATION

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Recently, the Canada Revenue Agency (“CRA”) was asked to comment on the tax consequences that may result from implementing an estate planning or income splitting arrangement which involves the issuance of shares that entitled the holder to discretionary dividends, for nominal consideration. The CRA was presented with a hypothetical small business corporation (“Opco”) with voting common and non-voting preference shares, both having the right to discretionary dividends to the exclusion….

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Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Planning, Investments, Small Business, Succession Planning, Tax Issues

“The Nest” – Not Your Typical Book Review

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Today’s blog was written by Elaine Blades, TEP The Nest, by Cynthia D’Aprix Sweeney, currently sits near the top of several best seller lists. It’s a novel about four adult siblings and how the prospect of their imminent shared inheritance – known affectionately as “The Nest” – affects them individually and collectively. The inheritance was intended by their late father to be a “modest, mid-life supplement” for his four children…..

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Estate Planning, Family Conflict, In the News, Succession Planning

Sumner and National Amusements

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In a number of previous Blogs, there have been references to famous families feuding over estates. This Blog is about a similar story except that the subject, Sumner Redstone, is still alive at 92 years of age. For those who don’t know, Sumner Redstone is a media mogul. He currently owns the majority interest in Viacom and CBS Corporation (through National Amusements Inc.), estimated to be worth around $5 billion…..

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Capacity Law, Estate Planning, Family Conflict, Powers Of Attorney and Guardianship Disputes, Succession Planning, Testamentary Capacity, Undue influence
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