Wills, Estate Planning & Wealth Preservation
- Business Succession
- Certificate of Appointment & Probate
- Estate Planning & Administration
- Power of Attorney
- Trusts
- Wills, Primary & Secondary
Wills and estates of Natives
Administration and probateWhen the estate of a member of the First Nation falls within the jurisdiction of the Indian Act, the procedures for administration and probate...
When to File a Terminal Tax Return
The due date for the terminal return depends upon the date of the deceased’s death:1) For a death prior to November, the terminal return is due...
Taxation of an Estate as a Trust
Upon the death of a taxpayer, a T3 trust tax return is prepared, as well as a report of the income earned by the estate after...
Estate Tax Planning: RRSPs and Rollovers
Registered Retirement Savings Plans (RRSPs)Like non-depreciable capital property and depreciable capital property, a spousal rollover is available for RRSPs. Money directly received by the spouse (as...
Keeping your Trusts Clean
Cleansing Tainted TrustsA qualifying spousal trust could inadvertently lose its special status by inadvertently putting capital in the hands of persons other than the spouse. In such situations,...
Guardians of the Property of Minor Children
No one, including parent or custodian, has an inherent right to possess or control property or assets otherwise belonging to a minor child. They can, however,...
Guardians Chosen in a Will, and the the Children’s Law Reform Act
Guardians, Custodians, and the Children’s Law Reform ActConventionally, “guardians” of minor children are whomever the parent has named in his or her will to take care...
Taxation at Death: Using Rollovers to Defer Taxes
RolloversAccording to the Canadian Income Tax Act there are two circumstances under which death need not bring forth a deemed realization of non-depreciable capital property or...
The Liability of Personal Representatives in Estate Administration
Personal Liability of Personal RepresentativesThe purpose of the personal liability provision is to encourage personal representatives to ensure that they do not overlook their obligations, such...
Creditors, the CRA and the Role of Estate Trustees
The personal representative (ITA, s. 150(3)) carries the responsibility of addressing the tax consequence of a taxpayer’s death. But the ITA (Income Tax Act) does not...