Total 214 Posts
Testators often draft into trusts conditions that limit the circumstances in which trust property may be distributed to beneficiaries. Some conditions test the boundaries of testamentary freedom, and raise complex questions about the relevance of human rights norms to trusts and estates law…..
Human Rights and Trusts Continue Reading »
Estate Litigation, Estate Planning, Philanthropy/Charitable Giving, Trustee, Trusts, WillsIf you have a “single-purpose” corporation for U.S. estate tax planning, this may be a good time to explore an alternative way of holding U.S. real estate…..
ALTERNATIVES TO ‘SINGLE-PURPOSE’ CORPORATION FOR U.S. ESTATE TAX PLANNING Continue Reading »
Canada Revenue Agency, Canadian and US Tax Treaty, Estate Planning, Investments, IRS, Property, Succession Planning, Trusts, United States, US TaxesIn my last Blog I wrote about how a surviving spouse received $70 per month for decades. In such a situation a Trustee is needed who will be around for a long time. The following example is at the other end of the spectrum. This example is about Patricia Kluge. For those of you who are not familiar with Patricia, she was at one time married to a billionare television….
spousal settlements Continue Reading »
Estate Planning, Investments, Spouse, Succession Planning, Trustee, TrustsFrom time to time there will be delays that could lead to missed deadlines resulting in tax penalties and arrears interest. All is not lost, however, where the deceased leaves a testamentary trust which would otherwise qualify as a spouse trust…..
Whew, I thought I missed the filing deadline! Continue Reading »
Estate Planning, Executors, Property, Trusts, WillsAwhile ago , I wrote that payments made to trustees and executors usually trigger some form of tax reporting and often, an obligation on the payer to withhold and remit amounts on account of tax. Thanks to some welcome and practical feedback from a concerned blogger, I would like to add a few comments.
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TAX REPORTING OBLIGATIONS FOR TRUSTEE AND EXECUTOR FEES – FOLLOW UP Continue Reading »
Canada Revenue Agency, Estate Administration, Estate Planning, Executors, Liability, Trustee, TrustsWhen Gertrude Janeway died in 2003, she was still getting a monthly cheque for $70 from the Veterans Administration for a military pension earned by her late husband, John, on the union side of the American civil war that ended in 1865…..
Spousal Trusts work for the short or long term Continue Reading »
Canada Revenue Agency, Estate Planning, Spouse, Trustee, Trusts