Archive for the ‘Trusts’ Category

TAX FREE ROLLOVERS: DIVORCE AND DEATH – NOT A GOOD MIX

Tuesday, December 6th, 2016

Recently, the Canada Revenue Agency (“CRA”) was asked to comment on a scenario involving the transfer of a RRSP and a capital asset between ex-spouses, and one the spouses dies before the rollover can be effected: Do the tax free rollover provisions found in the Income Tax Act (“ITA”) still ...

Testamentary Trusts – Are they Dead?

Friday, November 4th, 2016

Dating back to the 12th century when the English court of equity created the concept of the “use”, which in modern day is known as the “trust”, trusts have been an important tool in estate planning for both tax and non-tax reasons. Prior to January 1, 2016, testamentary trusts had ...