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Tax Implications and Considerations involving the Death of a Shareholder of a Private Corporation

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Today’s blog was written by Pritika Deepak, Associate at Fasken LLP This is the last part of a three-part blog series which provides a broad overview of some of the tax implications to consider, with respect to certain assets held at death. Part I, which addresses RRSPs can be found here: https://allaboutestates.ca/what-happens-when-a-taxpayer-dies-with-a-registered-retirement-savings-plan/ and Part II, which addresses exempt Life Insurance Policies can be found here: https://allaboutestates.ca/tax-implications-for-exempt-life-insurance-policies/. Part III of this….

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Estate Administration, Estate Planning, Tax Issues, Uncategorized, Wills

Bill C-22, the Canada Disability Benefit Act: an update

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This Blog was written by Jane Martin, Scotia Wealth Management Winding its way through the Senate approval process, Bill C-22, the “Canada Disability Benefit Act” reflects a promise by the federal government to introduce a guaranteed income supplement for Canadians with disabilities. Person living with disabilities comprise a disproportionate percentage of those living below the poverty line, and the poverty rate increases with the severity of disability.[1] The Act, which does….

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The Defence calls Ed Sheeran

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*There are 22 Ed Sheeran song references in this blog. How many can you find?* The key to winning any court case? Sing. You’ll make the judge swoon. If you are acting as the executor for the estate of an artist, intellectual property is likely your most valuable asset. Some estates of famous musicians use copyright infringement lawsuits as a means of generating income long after the artist’s death. The….

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The Perpetual Debate over Endowments

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  Charitable endowments are having a challenging moment.  Despite the historical success of this medieval European charitable fund structure, the accumulation of capital for public benefit has always faced controversy.  Endowments, which focus on long-term public benefit, have a built-in tension between capital and annual spending.  Does the capital exist to provide steady future good, or could it be used better now?  Canadian Context Canadian private and public foundations hold….

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Charitable Giving, Philanthropy/Charitable Giving, Uncategorized

Estate Planning and the Indian Act

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This Blog was written by: Alicia Mossington (Godin), Estate and Trust Consultant, Scotia Wealth Management   Estate planners and administrators must consider a variety of factors when assisting clients. We often speak about tax planning, insurance, and considerations for different types of assets including jurisdiction. We speak about residency for tax purposes, citizenship and typically ask where prospective executors or beneficiaries reside. Several blog posts over the past year have examined….

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POWERS OF ATTORNEY FOR CARE – THE SOFTER SIDE OF ESTATE PLANNING

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This Blog was written by Emily Racine, Estate and Trust Consultant with Scotia Wealth Management  Many of my estate planning conversations revolve around what I call the “hard topics” – such as, how do I save on taxes? Should I avoid probate? Do my children need a trust? However, one of the most important decisions you can make as part of your estate plan is who is going to take….

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