Books and records

Friday, June 12th, 2015

I am often asked by clients and contacts including trustees how long does the Canada Revenue Agency require books and records be kept for companies that no longer exist and businesses that have ceased to operate. The answer depends on whether the subject is a company or an unincorporated ...

Qualified Disability Trusts: The last of the Trusts with Graduated Tax Rates

Thursday, June 4th, 2015

My fellow bloggers have written about the elimination of the graduated tax rate system for testamentary trusts effective January 1, 2016, which means all trusts except the “Qualified Disability Trust” (“QDT”) and the “Graduated Rate Estate” (“GRE”) will be subject to the top rate of tax on income retained in ...

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 ...