Is AI Impacting the Value of Your Business?

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binoculars on a wooden table to express the idea of Elder Care Planning Framework

Artificial intelligence (“AI”) is transforming the business landscape at a remarkable pace. While much has been written about the opportunities AI can create, less attention has been given to the ways it can reduce the value of a small or family-owned business when it is poorly implemented (or simply ignored), weakly governed, or not aligned with changing market expectations. Refinancing and Business Value When AI contributes to a decline in….

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Estate Planning, Small Business, valuation

Planning for the Long Game: What Happens When Your Executor Becomes Incapable?

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This blog has been written by Karen La Caprara, Counsel, at Fasken LLP When contemplating estate planning, it can be easy to focus on a single moment: death. But estate administration does not occur in a moment. It often unfolds over many months, or years, particularly where there is a continuing trust, significant tax work, or illiquid assets. This raises a question that testators can easily overlook at the planning….

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Estate Administration, Estate Planning, Executors, Wills

Dying Without a Will in Québec, Part 2: Who Settles the Estate When No One Is Named Liquidator?

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Scotiatrust

This blog post was written by: Martine Desrosiers, Estate and Trust Consultant, Scotiatrust Montreal   In Part 1, we examined how intestacy in Québec creates procedural hurdles for minor heirs. Before any of those issues can be addressed, a more fundamental question arises: who is in charge of settling the estate?   When there is no Will, the Civil Code of Québec (CCQ) determines both who inherits and who is….

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Estate Planning, Wills

Hiring Court Experts: A Quick Guide

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As is often the case in civil litigation proceedings, estate and trust litigation relies on expert evidence.  This blog will lay out the general legal framework when it comes to engaging an expert and admitting expert evidence at trial. As an overview, case law collectively establishes that: Expert evidence must be independent, necessary, and properly confined in scope. Counsel may properly interact with experts but must not compromise their independence…..

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Qualified Disability Trusts: Some Positive Commentary from the Canada Revenue Agency

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This blog has been written by Darren G. Lund, Partner at Fasken LLP Each year in June, the Canadian branch of the Society of Estates and Trusts Practitioners holds its annual conference. One of the most eagerly anticipated sessions each year is the “CRA Roundtable”. At the Roundtable, representatives from the Canada Revenue Agency respond to questions submitted in advance by STEP on a range of tax issues of concern….

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Canada Revenue Agency, Disability, Estate Administration, Estate Planning, Tax Issues, Trusts, Wills

Estate Donation Regime at 10 Years

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Ten years ago, in 2016, the introduction of the Graduated Rate Estate (GRE) regime turned Canadian estate planning upside down.  The sidebar to the GRE rules were rules for “estate donations”. These Income Tax Act provisions in Section 118.1(5.1) altered the administrative and tax treatment of gifts by will, as well as direct designation gifts of life insurance, RRSP/RRIFs, and TFSAs. A decade later, how are charities and executors managing?….

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