Archive for the ‘Executors’ Category

BITCOINS: does a digital currency create a foreign reporting requirement

Friday, May 15th, 2015

Sometimes you just never know what kind of assets or property you are going to find in an estate. In determining the nature and extent of the assets held by the estate, suppose you found a direct or indirect interest in a digital currency fund such as Bitcoins. The Canada Revenue ...

Intestate Succession & Keeping Up With the Kardashians

Friday, May 8th, 2015

Peters Estate (Re) 2015 ABQB 168 CanLII is an Alberta decision that raises interesting issues about whether the intestacy rules can result in an injustice when applied to blended families. In 2013, Ileen Peters (“Ileen”) died without a will. Her husband, Lester Peters (“Lester”), pre-deceased her in 2009. Lester and Ileen ...

Withholdings on Retiring Allowances

Thursday, May 7th, 2015

With the recently concluded round of personal tax filings I have seen a number of tax returns where the taxpayer has reported income from a retiring allowance. More often than not the employer has withheld tax on the withdrawal however the withheld tax isn't always enough to cover the ...