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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., et al. Case No. 2021CV30285, Colorado District Court. 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 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:
2022
Pacific Business & Law Institute Conference – June 2, 2022
Conference Chair: Trusts 2022
Topic: Estate and Charitable Gift Planning
2022
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 Assault on 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
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
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 (Course 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
Course 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)