All About Estates

Category: Succession Planning

Total 55 Posts

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…

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Milne Estate (Re)visited

Today’s blog was co-authored by Joanna Lindenberg and Ronald Neal The decision of Milne Estate (Re) (“Milne”) caused a stir among the members of the estates bar and solicitors who draft wills, going so far as to illicit an alert from LawPRO. While the Milne decision (which is under appeal)…

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Not So Fast – Who Controls the Body?

“He knows where the bodies are buried” is a throwaway line from Orson Wells’ cinematic masterpiece, Citizen Kane. That line soon took on a life of its own and entered the cultural vernacular. In the world of estates, a more frequent problem is not finding the bodies but deciding where…

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Out-of-Date? You Could be Out of Luck!

          This Blog was written by: Emily Racine It is a hard truth that after a client confirms they have a will done, the first comment to follow is often “but it was done years ago”. The reality is that even when clients have a will,…

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A Roadblock for Multiple Wills

Today’s blog was written by Justin W. de Vries and Jacob Kaufman A will need not be probated. The power of an estate trustee derives from the will itself. However, in certain cases, a grant of probate (now awkwardly called a certificate of appointment of estate trustee with a will)…

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Business Succession Planning and the Next Generation

All business owners face the task of trying to determine what to do with their businesses when they retire or in the event of a sudden death: sell to the next generation, sell to a 3rd party or sell the assets and wind-up the business. According to the Canadian Federation…

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Domestic Contracts After Death

Interesting things happen when family law and estates collide. Battles over domestic contracts and houses lead to discussions of past mistakes, life experience, and occupation rent. Such was the case in Psarros Estate v Cook. As with many estates litigation cases, the Court was asked to determine a broad range…

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Individual Pension Plans Revisited

A fellow blogger wrote very eloquently late last week about succession planning for family owned businesses. Regrettably, as she noted the statistics for the successful transfer of family businesses are not very good. With the introduction of the new tax proposals, the challenge for a successful transfer of business to…

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Control in the Valuation of Business Interests for Estate Planning

From time to time, I am asked to prepare, review or comment on structures for estate planning purposes with a mind to valuation issues. A common valuation issue is control and whether or not the value of the business interest(s) in the estate plan should be discounted for lack of…

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Taming the Cottage Gremlins with a Non-Profit Organization

This Blog was written by Carol Willes, One of our family’s favourite pastimes at the cottage is to build a roaring campfire and spend the evenings telling stories, singing along to guitar tunes and roasting the occasional marshmallow. Every so often, however, some unwelcome visitors show up and crash our…

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