Trusts

Total 218 Posts

New Form T1141 and T1142 Filing Requirements

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Today’s Blog was written by Rahul Sharma, Partner, Fasken LLP, Toronto About three years ago, at this time of year, I wrote about T1141s and T1142s: Don’t Forget the T1141s and T1142s! – All About Estates.  These forms have been updated for the 2025 and future taxation years.  Details of the new forms and requirements are provided on the government of Canada’s website: About Form T1141 – Canada.ca and About Form T1142….

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Canada Revenue Agency, Tax Issues, Trustee, Trusts

Part II: Taxation of Trusts in Canada – The Flow-Through Nature of Trusts

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This blog has been written by Pritika Deepak, Associate at Fasken LLP. As we leave another year behind, it’s a fitting time to reflect on what tax and trust practitioners may often perceive as a period that often raises questions about the distribution of income from trusts to beneficiaries. To better understand this, it’s helpful to review the role trusts play as conduits or flow-through entities. Part I of this….

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Trusts

Estate Freezes and a Spouse’s ILA

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Estate freezes can raise important questions—like whether the freezor’s spouse should seek independent legal advice (“ILA”). This blog unpacks why that recommendation matters. Estate Freeze Consider the following estate freeze, which intentionally is explained in a “bare bones” manner. A spouse (“Freezor”) is exchanging their common shares in a Canadian controlled private corporation (“Family Corp.”) for fixed value preference shares. A new discretionary family trust is settled for the benefit….

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Interest, Separation, Spouse, Succession Planning, Trustee, Trusts

Part I: Taxation of Trusts in Canada – A Broad Overview

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This blog has been written by Pritika Deepak, Associate at Fasken LLP. Trusts play a significant role in wealth management and tax and estate planning. This blog post is not intended to supplant the important role played by the various and excellent texts written and published on the taxation of trusts.  Rather, this blog post skims the surface of some important points to consider when dealing with trust taxation. Trusts….

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Estate Planning, Trusts

Cottage Trust Planning – Points for Consideration

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Fall officially arrives on Monday. School has started, the leaves are turning colour, and for many families, it’s time to think about closing the cottage for the year. As estate planners know, the cottage is not an ordinary asset. It’s a special place where memories are made and traditions are passed down, and as a result, planning for its succession can be challenging. Often, individuals will include a trust in….

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Cottage, Estate Planning, Property, Succession Planning, Trustee, Trusts, Wills

The Benefits and Limitations of “Family Law Clauses”

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This week’s blog has been written by Darren Lund Estate planning and family law intersect in numerous ways. One of the most obvious intersections between these two areas of law is the so-called “family law clause” that appears in Ontario wills, deeds of gift, and inter vivos trusts. Although the clause is ubiquitous, it is one that is easily misunderstood by lay readers of wills, deeds of gift, and trusts…..

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Estate Planning, Trusts, Wills
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