What’s Done is Done?

Monday, July 7th, 2014

As a lawyer whose area of expertise is estate planning I am often asked about “simple” strategies to avoid or reduce the amount of probate taxes that may be payable on an individual’s death. (Probate is the process to confirm the validity of an individual’s Will. It is not ...

Designation of a Taxable Capital Gain for a Trust Beneficiary

Friday, June 27th, 2014

The Canada Revenue Agency (CRA) was asked to consider a situation where a testamentary trust (the trust) disposed of qualified small business corporation shares (QSBCS) in 2013 during its taxation year ending on January 31, 2014. The trust allocated the taxable capital gain to its beneficiary. The CRA was asked to ...

Reaffirmation of Testamentary Freedom in Ontario

Thursday, June 26th, 2014

A recent decision of the Ontario Court of Appeal, Verch Estate v. Weckwerth, reaffirms the autonomy of Ontario testators to distribute their estates as they wish provided that their statutory obligations are fulfilled. In this case, which was brought to my attention by a post on Lynne Butler’s Estate Law Canada ...