All About Estates

Category: Succession Planning

Total 49 Posts

Domestic Contracts After Death

Interesting things happen when family law and estates collide. Battles over domestic contracts and houses lead to discussions of past mistakes, life experience, and occupation rent. Such was the case in Psarros Estate v Cook. As with many estates litigation cases, the Court was asked to determine a broad range…

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Individual Pension Plans Revisited

A fellow blogger wrote very eloquently late last week about succession planning for family owned businesses. Regrettably, as she noted the statistics for the successful transfer of family businesses are not very good. With the introduction of the new tax proposals, the challenge for a successful transfer of business to…

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Control in the Valuation of Business Interests for Estate Planning

From time to time, I am asked to prepare, review or comment on structures for estate planning purposes with a mind to valuation issues. A common valuation issue is control and whether or not the value of the business interest(s) in the estate plan should be discounted for lack of…

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Taming the Cottage Gremlins with a Non-Profit Organization

This Blog was written by Carol Willes, One of our family’s favourite pastimes at the cottage is to build a roaring campfire and spend the evenings telling stories, singing along to guitar tunes and roasting the occasional marshmallow. Every so often, however, some unwelcome visitors show up and crash our…

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Valuators – 2018 Might be a Very Good Year

I mentioned in my last blog that the government is proposing measures to limit the application of the lifetime capital gains exemption (“LCGE”) to owners of eligible small business corporations, based on age and “reasonableness”. Subject to certain exceptions, the proposals ensure that property held by a trust will no…

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Fair Tax Plan is Not Fair

When I was a child I would get together with kids in the neighborhood and we would play games like racing toy cars. Someone would call out the rules and the games would go for hours to the delight of our parents. On occasion one of the kids would do…

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For Whom the Bells Toll: It Tolls for Family Trusts?

As we continue to absorb the draft legislation (together with explanatory notes and consultation paper) introduced by the Department of Finance to overhaul the system of taxation for private companies, some things have are becoming clear. If essentially enacted as currently drafted, the legislation will likely spell the end of…

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Government Targets Tax Planning for Private Companies

July 18, 2017 was a relatively quiet day in my office. That is until I received a flurry of emails regarding a release by the Department of Finance.  In particular, the Department of Finance issued draft legislation which, if passed, will significantly change the nature of tax planning for Canadian…

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Dementia does not Preclude Testamentary Capacity

Unhappy beneficiaries often challenge the validity of a loved one’s will on the grounds that the testator lacked the capacity to execute a will. Applicants use evidence of the testator’s dementia or Alzheimer’s disease (and other mental disorders) to establish that the testator lacked capacity to execute a will. However,…

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Post Mortem Pipeline Planning – Business Continuity

Recently, a fellow blogger wrote about the benefit of post-mortem pipeline transactions to avoid double tax on disposition of certain assets. Briefly, a pipeline transaction is a form of transaction whereby the assets of a corporation are distributed to shareholders utilizing the high adjusted cost base resulting from the capital…

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