All About Estates

Capital Gains Exemption Purification before a Share Sale: Be Careful about Timing

Assume a family trust (“Trust”) which has a December year end owns 100% of an operating company (“opco”). A separate corporation (“holdco”), owned by the founders of opco, is a corporate beneficiary of the Trust. Opco is up for sale. Opco has excess funds which may affect the Trust’s and…

Continue Reading

Saying “See You Soon” rather than Goodbye.

Previously posted @allaboutestates. A timeless message: Holiday travel is around the corner. Traveling with older parents does require pre-planning and this blog highlights a recent trip accompanying my mother to see her older brother and sister in law who live over 4,000 km away. Like any trip, it required organization…

Continue Reading

Exercising Discretion – Beware of Absolute Powers

As the calendar year draws to yet another close, and each of us mentally checks off items on our year-end checklists, trustees of a discretionary family trust should take this time to determine whether to make a discretionary distribution of income or capital for the year ending.  Often the terms…

Continue Reading

Dead People Who Make More Money Than You

Imagine this – You’re front row center in your red leather jacket. The King of Pop is thrilling the crowd. He moonwalks so close to your seat that you can touch him. But you can’t. It’s a Michael Jackson hologram. You spent half your paycheck to watch a hologram perform….

Continue Reading

A Cup of Care: A Pinch of Hope: Spending holidays with a family member who has dementia.

The holidays can be a wonderful time to spend together with loved ones, remembering the meaning of the season and celebrating together. When visiting with and sharing time with a family member who has dementia, the challenge is with the expectation. The Alzheimer’s Society notes that often caregivers must deal…

Continue Reading

Common Pitfalls in Estate Planning for Blended Families

Common Pitfalls in Estate Planning for Blended Families[1] The traditional concept of the nuclear family (i.e., mother, father and one or more children of a single relationship) has evolved over the years. The modern family is more complicated and may consist of parents who are in second or third relationships…

Continue Reading

Unjust Enrichment – The Supreme Court’s Naughty List

They see you when you’re sleeping, they know when you’re awake. They’re ready to decide if you’ve been unjustly enriched, so be good for goodness sake. The Supreme Court of Canada is coming to town. The Supreme Court of Canada in their festive/ceremonial robes [Not pictured – Santa Claus]  …

Continue Reading

Charitable Donations – What Do You Get in Return?

Each December, we are reminded that this is the season of giving. As we are encouraged to lend our support to worthy causes, it is helpful to understand the extent to which donors can control the use of their funds and oversee the direction of a charitable project. Meddling in…

Continue Reading

Requirement to File a Tax Return Expanded

As written previously, the requirement to file a tax return for trusts has been expanded. Thanks to new legislation, there are now exceptions to the exception to file. Generally speaking, a trust (other than a trust established by law or judgment) that is resident in Canada must file a tax…

Continue Reading

Remembering Audrey Parker

Does her name sound familiar? Audrey was 57 years old when she died last month, by her own choice and with medical assistance. She had been diagnosed 2 years earlier with incurable cancer and had chosen to die on her own terms- except she really didn’t. In her own words:…

Continue Reading