All About Estates

Category: Estate Planning

Total 618 Posts

INCOME RECEIVED AFTER DEATH

Recently, the Canada Revenue Agency released a technical interpretation to clarify the commentary in the T4001 Employer’s Guide – Payroll deductions and Remittances, and the T4011 guide, Preparing Returns for Deceased Persons, in respect of income payable at death but not actually paid until the subsequent year. The CRA confirmed…

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Testamentary Freedom – A Fundamental Right?

Whether testamentary autonomy is a constitutionally protected right has not been considered by the courts … until now.

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Estate Planning and Family Law: The Matrimonial Home Part II

In a prior blog, I began a discussion of the use of marriage contracts as part of an integrated estate plan to preserve and protect family wealth. In particular, that blog began a discussion of the legal regime that governs a “matrimonial home” under the Ontario Family Law Act (“FLA”),…

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Strategies for Distributions for Young Beneficiaries

This Blog was written by: Daniel Watts, Estate and Trust Consultant, Scotiatrust I wrote in a previous post about determining an appropriate age for a beneficiary to receive an inheritance (Choosing an Appropriate Age for Young Beneficiaries to Inherit, February 7, 2019). Below, we take that idea a bit further…

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Is a Sale for $1 the Same as a Gift?

Most transactions between parties not at arm’s length with each other (often described as related parties, such as family members), the parties to the transaction are subject to a one-sided adjustment where the transaction proceeds does not equal fair market value (“FMV”). If the price exceeds FMV, then the cost…

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Trust in the Raptors

Sports/Estates fans, we’re in that period during the year where playoff hockey and basketball overlap with the beginning of the baseball season. A lot of questions come up for fans during this time: He’s making HOW much? How can the team get out of that guy’s contract? What would happen…

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Individual Pension Plans Revisited (Again) – What about Pension Transfers?

When a member of an employer sponsored pension plan ceases employment, the member may receive a lump sum payment for the commuted value of their pension rights, exposing that member to a significant tax bill, as only a limited amount of the payment can be transferred to an RRSP. There…

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Isle of Trusts

Spring is (kind of) here and summer is (hopefully) around the corner.  Like every year, Torontonians will no doubt soon make their way to the Toronto Islands during the summer weekends.  A group of 15 islands interconnected by pathways and bridges in Lake Ontario, the Islands are approximately 15 minutes…

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The CPP Child Rearing Dropout and its Impact on Survivor Benefits

Today’s blog was written by Monique J. Charlebois, a bilingual lawyer with more than 20 years of experience practicing Ontario estates law.  If you have clients who have lost a relatively young spouse/parent who was the primary caregiver to young children for many years, letting them know about the Child…

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Pipelines and non-resident beneficiaries

Without proper tax planning, private company shareholders face the prospect of a double tax on the value of shares – once at the time of death and again when the successor beneficiaries extract the share value from the company.  Post mortem “pipeline” planning solves this problem by allowing the estate…

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