Archive for the ‘Executors’ Category

Income amount payable to a beneficiary

Tuesday, February 2nd, 2016

In many cases, amounts of trust income are allocated to the beneficiaries of the trust but the corresponding amounts are not actually paid. Instead, the trustees ensure that the amounts are due to the beneficiaries and such amounts are legally enforceable against the trust property. The Canada Revenue ...

Spousal trust and life insurance

Tuesday, January 19th, 2016

The Canada Revenue Agency (CRA) had an opportunity expand on their position as it applies to a trustee's duty to maintain certain income producing or capital appreciating properties which may potentially benefit a spouse during their lifetime. The CRA answer was delivered in a technical interpretation. The question posed to ...