Trusts

Total 213 Posts

GIFTS – Some Additional Thougths

• • 0 Comments

Recently, I wrote about the gifting of cash or assets during one’s lifetime as an alternative method of distributing your wealth (beyond what you need to live on comfortably) and possibly avoid taxes (probate, income etc.) at time of death. I suggested that your heirs could use the funds in a manner that will likely cost less tax: For example pay down some personal debt, apply it as a deposit….

GIFTS – Some Additional Thougths Continue Reading »

Canada Revenue Agency, Charitable Giving, Estate Litigation, Estate Planning, Family Conflict, Investments, Joint Tenancy, Loans, Philanthropy/Charitable Giving, Probate Tax, Property, Real Estate, Tax Issues, Trusts, Uncategorized

The Honour of Being Named a Trustee?

• • 0 Comments

When you are appointed to act as a “trustee”, you are being asked to take on the control and management of property, but for the benefit of other persons, called the beneficiaries. The beneficiaries are usually family members of the person who established the trust.  The person who established the trust may have done so during their lifetime, in which case they are called the “settlor” and the trust is….

The Honour of Being Named a Trustee? Continue Reading »

Passing Of Trustees’ and Executors’ Accounts, Trustee, Trusts

Valuators – 2018 Might be a Very Good Year

• • 0 Comments

I mentioned in my last blog that the government is proposing measures to limit the application of the lifetime capital gains exemption (“LCGE”) to owners of eligible small business corporations, based on age and “reasonableness”. Subject to certain exceptions, the proposals ensure that property held by a trust will no longer be eligible for the LCGE. Under the current proposals, there are transition rules which will permit a one-time multiplication….

Valuators – 2018 Might be a Very Good Year Continue Reading »

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

For Whom the Bells Toll: It Tolls for Family Trusts?

• • 0 Comments

As we continue to absorb the draft legislation (together with explanatory notes and consultation paper) introduced by the Department of Finance to overhaul the system of taxation for private companies, some things have are becoming clear. If essentially enacted as currently drafted, the legislation will likely spell the end of family trusts for tax planning arrangements, particularly in the private company setting. Traditionally, for tax planning purposes, family trusts are….

For Whom the Bells Toll: It Tolls for Family Trusts? Continue Reading »

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

The Principal Residence Exemption: Can you Divide and Conquer?

• • 0 Comments

Recently, the Canada Revenue Agency (‘CRA”) was asked for its opinion on a fact situation with implications on the availability of the principal residence exemption for tax purposes, that I think also has applicability to estate planning in general and to some of the issues one can encounter when trying to divide interests in a property for estate planning purposes in particular. The CRA was provided with the following scenario…..

The Principal Residence Exemption: Can you Divide and Conquer? Continue Reading »

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

JOINT TENANCY AND PROBATE AVOIDANCE – A QUICK REVISIT

• • 0 Comments

When developing estate plans for clients with property of a capital nature (real estate, marketable securities being a couple of examples), one of the questions I get asked more often than not is: How can I avoid probate? Can I just put someone else’s name on a document so it transfers to that person when I pass away? Are there any implications? Technically speaking, “putting someone else’s name on a….

JOINT TENANCY AND PROBATE AVOIDANCE – A QUICK REVISIT Continue Reading »

Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Planning, In the News, Interest, Investments, Joint Tenancy, Probate Tax, Property, Real Estate, Resulting Trust, Tax Issues, Trusts, Uncategorized, Wills
Scroll to Top