NEW ESTATE INFORMATION RETURN: ADDITIONAL NOTES OF CAUTION

Thursday, January 29th, 2015

In a recent blog – just in time for the holidays as the blogger put it – executors and prospective executors were alerted to the requirement in Ontario for a new estate information return to be filed in addition to an application for a Certificate of appointment of Estate Trustee ...

ESTATE PROPERTY DISTRIBUTION AND ESTATE TAX LIABILITY

Monday, January 12th, 2015

Recently, the Canada Revenue Agency released a technical interpretation which served as a useful reminder that executors and ultimately beneficiaries should exercise caution when it comes to estate tax liabilities. The Income Tax Act requires that the estate’s legal representative which is often the executor must obtain a clearing certificate before ...

The Rush to Avoid the 21 Year Deemed Disposition Rule: a Word or Two of Advice

Thursday, December 18th, 2014

As a professional advisor over the years, I have learned to accept good advice as well if not more than giving it. Recently, Colleen Ma of Dunphy LLP wrote about how the rush to avoid the 21 year rule for discretionary family trusts can lead to real problems if not executed ...