Total 154 Posts
Although the title of this blog is largely tongue-in- cheek, there is some validity to exploring how trusts can be used to incentivise or encourage the next generation to be successful or at the very least contributing to society in a positive way…..
Incenting From Beyond the Grave!! Continue Reading »
Estate Planning, Family Conflict, Succession Planning, Trusts, WillsToday’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…..
“The Nest” – Not Your Typical Book Review Continue Reading »
Estate Planning, Family Conflict, In the News, Succession PlanningIn 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…..
Sumner and National Amusements Continue Reading »
Capacity Law, Estate Planning, Family Conflict, Powers Of Attorney and Guardianship Disputes, Succession Planning, Testamentary Capacity, Undue influenceThe Divisional Court recently released its decision in Dagg v. Cameron Estate (the trial decision was previously discussed on this blog here). In brief, the appellant Anastasia Cameron married the deceased, Stephen Cameron, in 2003. They had two children. Stephen took out a life insurance policy in 2010 and named Anastasia as the beneficiary. The couple separated in 2012. Stephen began a relationship with the respondent Evangeline Dagg. Divorce proceedings….
Divisional Court agrees life insurance policy part of estate Continue Reading »
Dependant Support, Estate Litigation, Succession PlanningWhen an individual taxpayer transfers or loans directly or indirectly property to a corporation, certain provisions of the Income tax Act (“the Act’) may deem the transferor to have received annual interest income on the property at the prescribed rate as set out in the Regulations of the Act. The deemed income will fluctuate with the prescribed rate and the rate is not locked in at the time of transfer…..
ESTATE FREEZES AND CORPORATE ATTRIBUTION RULES: A QUICK REFRESHER Continue Reading »
Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Planning, Interest, Investments, Loans, Property, Real Estate, Small Business, Succession Planning, Tax Issues, TrusteeThe sale of a 1957 Ferrari 335 Sport Scaglietti for 32 million euros (about $35.8 million US, or $50.2 million Canadian) earlier this month set the record for the most expensive car ever sold at an auction, the New York Times reported. It also made waves for what the Times reports as a new method of reducing estate taxes – using selective data to undervalue precious collectibles and vintage cars….
Sale of Ferrari Highlights an Estate Tax Avoidance Method Continue Reading »
Estate Administration, Estate Administration and Probate Applications, Estate Planning, Succession Planning