Areas of Practice
Contact
Nick Smith is a founding principal with Legacy Tax + Trust Lawyers in Vancouver, a boutique law
firm specializing in tax, trust and estate planning and related litigation. For over 30 years,
Nick’s practice has focused on Federal, Provincial and international tax and estate planning, with
an emphasis on owner manager corporate reorganizations, tax structuring of purchases and sales of
businesses, business succession and working with trusts, estates and tax-planned wills. He also has
particular expertise dealing with the 21 year deemed disposition rule applicable to most trusts.
Nick has extensive experience representing individuals, corporations and trusts involved in tax
disputes with Canada Revenue Agency and the Province of British Columbia. He was called to the
British Columbia Bar in 1989 and is a frequent author and lecturer for a variety of professional
organizations. Nick was an Adjunct Professor at Peter A. Allard School of Law at the University of
British Columbia, teaching Taxation of Trusts and Estates for the LLM in Taxation program, until
his retirement from teaching in 2017. He has been qualified by the British Columbia Supreme Court
on multiple occasions as an expert in Canadian taxation. He has also been qualified as an expert
in Canadian taxation by the United States Tax Court (Dynamo Holdings Ltd. P’ship v. Comm’r, T.C.
Memo. 2018-61 (U.S.T.C. May. 7, 2018)) and recently testified as an expert witness in the case of
PDB Sports Ltd. and Bowlen Sports, Inc. v. ROFR Holdings Ltd, Ltd., et al., Case No. 2021CV30285
(D. Colo. 2022). He has been selected by peers for inclusion in Best Lawyers in Canada (Tax Law)
and Lexpert. Nick is recognized as a top lawyer in the Global Directory of Who’s Who. He is listed
in the Peer Nominated Who’s Who Legal as one of the world’s leading practitioners in the field of
Private Client. Nick was named “Lawyer of the Year” for 2023 by Best Lawyers for Tax Law in
Vancouver.
Nick obtained a Bachelor of Science degree from McGill University in Montreal (graduating with
Great Distinction). He obtained his law degree from the University of British Columbia. He
completed the Canadian Institute of Chartered Accountants 3 year In-Depth Tax Course in 1994.
The following is a list of Nick’s lectures and professional publications:
2023
Pacific Business & Law Institute Conference – June 28, 2023 Conference Co-Chair: Trusts 2023
2022
Pacific Business & Law Institute Conference – June 2, 2022 Conference Chair: Trusts 2022
Topic: Estate and Charitable Gift Planning STEP Presentation – May 26, 2022
Topic: Transition of the Family Business
2021
Cidel Provence Conference – October 2021 Topic: Principal Residence Exemption Planning
2019
Cidel Provence Conference – September 2019 Topic: BC’s Changes to Privacy
2019
Pacific Business & Law Institute – February 5, 2019
Topic: Acquisitions of Control and Effective Use of Corporate Losses
2018
Cidel Provence Conference – September 2018
Topic: Estate Freezes 2018 and Beyond – A Case Study
2018
Pacific Business & Law Institute – June 6, 2018
Topic: Planning for Death Using Trusts – A Case Study
2017
Cidel Provence Conference – September 2017
Topic: Tax Issues with Changing Beneficiaries and Trustees of Trusts
2016
Pacific Business & Law Institute – June 15, 2016 Trusts: Using Trusts Effectively
Conference Chair
2016
Pacific Business & Law Institute – February 4, 2016 Corporate Reorganizations: Tax Compliance and
Avoidance Topic: Transfer to the Corporation: Section 85 Rollovers
2016
STEP Year in Review – January 21, 2016
2015
Pacific Business & Law Institute – June 9, 2015 Trusts: Planning For Success
Conference Chair
2014
Pacific Business & Law Institute – November 6, 2014
Planning for Clients with Assets and Beneficiaries in Multiple Jurisdictions Topic: Select Canadian
Tax Considerations
2014
Canadian Tax Foundation –September 29 – 30, 2014 2014 British Columbia Tax Conference
Topic: Death of a Taxpayer: Post Mortem Planning
2014
Pacific Business & Law Institute – June 10, 2014 (Conference Chair) Trusts: Beyond the Basics
Topic: Wild and Weird New Developments in the World of Trusts
2014
Continuing Legal Education of British Columbia – May 14, 2014 Tax Issues for Commercial
Practitioners
Topic: Common Practice Issues (Roundtable Forum)
2013
Pacific Business & Law Institute – December 3, 2013 Tax Effects of Business Combinations
Topic: Acquisition of Control and Effective Use of Corporate Losses
2013
Pacific Business & Law Institute – June 18ᵗʰ, 2013
Trusts: Challenging Issues and Emerging Planning Techniques Conference Chair
2013
Federated Press – March 7 – 8, 2013
13ᵗʰ Annual Tax Planning for the Wealthy Topic: The Use of Trusts in Estate Planning
2012
Continuing Legal Education Society of British Columbia – October 19, 2012 Trusts: The Multi-Faceted
Estate Planning Tool
Topic: 21 Year Rule Planning
2012
Continuing Legal Education Society of British Columbia – September 21, 2012 Gearing up your
Practice: The New Family Law Act
Topic: Trusts
2012
Continuing Legal Education Society of British Columbia – February 21, 2012 Closely Held
Corporations – Tax Issues for Commercial Practitioners
Topic: Common Practice Issues
2012
Pacific Business & Law Institute – February 7 & 8, 2012
Tax and Estate Planning for the Family Business: The Advanced Issues Topic: Selling the Business
Outside the Family: Primary Tax Considerations
2011
Canadian Bar Association of British Columbia – November 18 – 20, 2011 Sixth Annual Branch
Conference – Las Vegas, Nevada
Topic: Tax Issues for Solicitors
What every solicitor should know: Key steps to structuring businesses, effective use of trusts and
most common tax-related mistakes made by solicitors and how to avoid them
2011
Pacific Business & Law Institute – June 9, 2011 Trusts: The Thorny Issues
Topic: Tax Issues Arising From Variations of Trusts
2011
Federated Press – March 22 – 23, 2011
9ᵗʰ Annual Tax Planning for the Wealthy Family Topic: Owner-Manager Tax Planning
2011
Pacific Business & Law Institute – February 10, 2011 Tax and Legal Issues for the Family Business
Topic: Tax Considerations When Selling the Business Outside of the Family
2011
Continuing Legal Education Society of BC – February 4, 2011 Tax Fundamentals for the Estate
Practitioner
Topic: Taxation of Personal Trusts
2010
Federated Press – June 15 & 16, 2010
7th Annual Tax Planning for the Wealthy Family Course Topic: Owner-Manager Tax Planning
2009
Pacific Business & Law Institute, June 16, 2009 Trusts: Current Issues
Topic: Is the 21 Year Deemed Realization Really So Bad?
2009
Society of Trust and Estate Practitioners – May 29, 2009 Topic: Tax Planning for a Disabled
Individual
2009
Federated Press – February 25 & 26, 2009
4th Annual Tax Planning for the Wealthy Family Course
Topic: Owner-Manager Tax Planning
2008
Pacific Business & Law Institute, October 15, 2008
Advanced Estate Planning: Answering Your Most Vexing Questions
Topic: Creative Solutions To Various Tax And Estate Planning Problems In Relation To Canadian
Resident Trusts
2008
Canadian Tax Foundation, September 16, 2008 British Columbia Tax Conference
Life Cycle of an Estate Plan
Topic: Miscellaneous Corporate and Trust Reorganization Scenarios for Mature Businesses/Trust
Assets
2008
Continuing Legal Education Society of British Columbia, June 27, 2008 Out of the Ordinary Problems
in Ordinary Estates
Post-mortem Tax Issues: Clearance Certificates, Post-mortem Tax Planning and Limitation Periods
2007
Continuing Legal Education Society of British Columbia
CLE Practice Manual – Advising British Columbia Businesses
Chapter 14 – Estate Planning for Private Businesses – Authored by Nicholas P. Smith – The Manual
received First Place Award for Professional Excellence in the Publications category from the
International Association ACLEA
2007
Pacific Business & Law Institute, February 28, 2007 Estate Freezes: The Complete Course
Topic: New Dividend Taxation Rules in Relation to Estate Freezes
2006
Canadian Tax Foundation – September 11 & 12, 2006 British Columbia Tax Conference
Topic: Legislative and Administrative Developments
2006 (Updated)
Continuing Legal Education Society of British Columbia
British Columbia Estate Planning and Wealth Preservation Handbook Chapter: Private Business
Succession
2006
Continuing Legal Education Society of British Columbia
CLE Practice Manual – Advising British Columbia Businesses Chapter 14 – Estate Planning for Private
Businesses
2005
Continuing Legal Education Society of British Columbia – November 3, 2005 Trusts: An In-Depth
Review
Topic: Taxation of Trusts
2005
Pacific Business & Law Institute, June 8, 2005 Estate Planning: The Fundamentals
Topic: Estate Freeze Basics
2004
Canadian Association of Insolvency and Restructuring Professionals Continuing Education Forum, May
6, 2004 Topic: Income Tax Issues
2002
Continuing Legal Education Society of British Columbia Wills, Estates and Trusts Conference
Topic: Business Succession: Family Dynamics and Finance – A Deadly Cocktail
2001
Continuing Legal Education Society of British Columbia Wills, Estates, and Trusts: Selected Topics
Topic: Alter Ego and Joint Partner Trusts
2001
Continuing Legal Education Society of British Columbia Estate Litigation – 2001 Update
Topic: Income Tax Issues for Estate Litigators
2001
Canadian Institute of Chartered Accountants Topic: Post-Mortem Remedial Tax Planning
2000
Lorman Education Services Not for Profit Organizations
Topic: Tax-Planned Charitable Gifting – Opportunities and Hurdles
2000
Insight Conferences
Wealth Management and Estate Planning
Topic: Private Foundations and Tax Planned Charitable Giving
1999
Pacific Business & Law Institute
The Essentials of Estate Planning Topic: Charitable Vehicles
1999
Pacific Business & Law Institute Working with the New Trust Rules –
Planning Opportunities for Family Trusts and Offshore Trusts Topic: The Tax on Split Income
1999
Pacific Business & Law Institute Charities Conference
The Best of Times, The Worst of Times Topic: Tax Shelters Involving Charities
1998
Continuing Legal Education Society of British Columbia Wills Estates and Trusts Conference
Topic: Post Mortem Remedial Tax Planning
1998
Continuing Legal Education Society of British Columbia – Conference Chair Tax Planned Charitable
Giving and Tax for Charities
1998
The National Family Law Program
Topic: Tax Issues in the Division of Corporate Interests upon Marital Breakdown
1997
Pacific Business and Law Institute Trusts – For the Sophisticated Client Topic: Tax Planning Using
Trusts
1996
Continuing Legal Education Society of British Columbia Tax Aspects of Buying and Selling a Business
Topic: Tax Due Diligence Issues in the Purchase of a Business
1996
Continuing Legal Education Society of British Columbia Operating and Advising Charities and
Not-for-Profits Topic: Selected Income Tax Issues for Registered Charities
1996
Pacific Business and Law Institute
Charities: Finding Solutions to the Funding Crisis
Topic: Tax Traps and Tax Compliance Issues for Registered Charities
1993
Continuing Legal Education Society of British Columbia Tax for the Non-Specialist
Topic: Estate Planning (co-author)