Archive for the ‘Joint Tenancy’ Category

POWERS OF ATTORNEY AND ALTER EGO TRUSTS

Tuesday, September 16th, 2014

My fellow bloggers and I have written in the past about the ins and outs of legitimate probate fee avoidance arrangements available to a testator. These arrangements include an intervivos transfer of assets such as alter-ego trusts. Care and advice must be taken to ensure that the transfer of assets ...

Shedding the Tax Light on a Blind Trust

Wednesday, July 16th, 2014

A blind trust is a trust in which a settlor (who would also be the contingent beneficiary) reserves the right to terminate the trust but agrees to relinquish all other control over the trust i.e. administered and managed by others without updates, advice, instruction, or account to the settlor. Whether ...

A Cabin in The Woods: Avoid the Tax Horror?

Monday, May 26th, 2014

Recently a taxpayer asked the Canada Revenue Agency (“CRA”) if an exemption could be applied to eliminate the capital gain on the sale of a cabin “in the woods” purchased in very poor condition and made livable with subsequent investment. I thought the details of CRA’s response were a good ...