All About Estates

Month: February 2016

Total 17 Posts


Last fall I wrote about the Supreme Court of Newfoundland and Labrador being asked to rule on the specific issue of residency which would have significant tax implications to the trust depending on the Court’s determination. In Discovery Trust vs Canada (National Revenue), 201201G6615, at issue was whether a trust…

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Survival Skills: Testamentary Style

A couple of months ago I discussed the purpose of the “30 day survivorship clause” in Wills.  In a nutshell, the clause is designed to address the problems that may arise in the situation where the testator and one or more beneficiaries die in a common accident or otherwise within a short…

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CRA Commentary on 74.4(2) Planning and Dividend Payments

The CRA recently published a severed letter in which it considered the applicability of subsection 74.4(2) to two scenarios involving the payment of dividends from a small business corporation to a holding company, for the benefit of “designated persons”. Generally, subsection 74.4(2) applies to a transfer or loan of property made, directly or indirectly, by an individual to a corporation that is not a small business corporation, if it is reasonable to consider that one of the main purposes of the transfer is to reduce the individual’s income and benefit, directly or indirectly, someone who qualifies as a “designated person” in respect of the individual (e.g. a minor child or spouse).

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The Giving Tree Becomes The Dying Tree

Today’s blog may be a bit unusual. It is about the death of a tree, the ‘D’ words: disease, decay, decline and death and the loss to a community.

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Support, Divorce, and Insolvency

Even when a dependant’s entitlement to and need for support is clear, there simply may not be enough money in the estate to provide assistance. For this reason, the Succession Law Reform Act (“SLRA”) allows certain assets passing outside of the estate (often to a designated beneficiary) to be clawed…

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Income amount payable to a beneficiary

In many cases, amounts of trust income are allocated to the beneficiaries of the trust but the corresponding amounts are not actually paid. Instead, the trustees ensure that the amounts are due to the beneficiaries and such amounts are legally enforceable against the trust property.

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Technology and hard drives

I was getting my equipment together for the annual ski trip and it reminded me of a short instructional video about how to destroy a hard drive

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