SHARES ISSUED FOR NOMIMAL CONSIDERATION: BE WARY OF VALUATION

Tuesday, June 28th, 2016

Recently, the Canada Revenue Agency (“CRA”) was asked to comment on the tax consequences that may result from implementing an estate planning or income splitting arrangement which involves the issuance of shares that entitled the holder to discretionary dividends, for nominal consideration. The CRA was presented with a hypothetical small business ...

Can an executor act as a witness to a Will?

Friday, June 24th, 2016

Two witnesses are sometimes hard to find. In a pinch, could an individual who is appointed as an executor under a Will act as a witness to that Will? In Ontario, the rules governing the formalities of Wills, including the eligibility of witnesses, are set out in the Succession Law Reform ...