Author: Bibiane Bijsterveld

Planning for Children: Children’s Property and Status

Private: Andrea Frisby

  https://www.legacylawyers.com/wp-content/uploads/Planning-for-Children-Children_s-Property-and-Status-2.pdf

Current Approaches to Substituted Decision Making

Private: Andrea Frisby

  https://www.legacylawyers.com/wp-content/uploads/PBLI-2016-Current-Approaches-to-Substituted-Decision-Making-2.pdf

QSBC Shares and the Lifetime Capital Gains Exemption

Ian Worland

  https://www.legacylawyers.com/wp-content/uploads/QSBC-Shares-and-the-Lifetime-Capital-Gains-Exemption.pdf

Without Bounds: Administration Issues for International Estates

Private: Andrea Frisby

  https://www.legacylawyers.com/wp-content/uploads/PBLI-2017-Without-Bounds-Administration-Issues-for-International-Estates.._-2-1.pdf  

Legal Considerations for Death and Incapacity

Genevieve N. Taylor and Christine M. Muckle

INTRODUCTION This paper identifies the building blocks of an estate plan that are necessary to ensure a client’s financial and health care wishes during life, as well as the disposition of his or her assets on death, are accomplished in a way that is beneficial not only to the client, but also to those individuals that are to benefit from the plan. Issues to be considered by a good plan include tax, probate avoidance, privacy, dispute minimization and efficiency. Important to understanding a good plan is both appreciating the planning options available and also the consequences of having no plan. 1.      …

To Be or Not To Be – The Executor: His Powers, Obligations and Liabilities

Genevieve N. Taylor and Christine M. Muckle

INTRODUCTION The position of executor brings with it incredible responsibility and serious potential for liability. Although the fees awarded for fulfilling the duties may seem generous, in all honesty, you are paid for what you get.   A person should consider a number of factors, before agreeing to assume the role of executor.  Consideration should be given to the time involved, the level of remuneration, the personal relationship of the appointee with the beneficiaries, the character of each of the beneficiaries, the nature of the testator’s assets, the particular terms of the Will and the potential for…

Transfers and Joint Property Ownership under the Wills, Estates & Succession Act and the Family Law Act

Transfers and Joint Property Ownership under the Wills, Estates & Succession Act and the Family Law Act by Lauren Blake and Emma Ferguson

All Trusts, All the Time – Implied, Resulting and Constructive Trust Claims

I.     Introduction The concept of who actually owns an asset arises frequently in the areas of both family and estate law. Families often transfer ownership to real estate and other assets without considering the legal consequences of the transfer. The transfer of an asset may be from one spouse to another, from a parent to a child, or even just the promise of a transfer in the future, leading to a course of conduct on the part of the person believing they will be a future owner. Whether the issue of ownership arises upon the dissolution of a marriage, or a marriage like relationship, or the death of a…

Taxable Dispositions and Deferrals

Genevieve N. Taylor

I. Overview In the course of an estate plan, the spectre of tax dispositions can cast a long shadow over otherwise desirable plans. Likewise, when administering an estate the deemed disposition triggered by death can create havoc for an estate’s administration. This paper will (a) outline common circumstances in which a disposition of property may give rise to tax and (b) discuss steps that may be taken to defer the taxes payable to a later date or manage the payment of such taxes. We begin with an overview of what is a taxable disposition under the Income Tax Act, R.S.C. 1985, c. 1 (5th Supp.) (the "Act") and…

Transfers to the Corporation: Section 85 Rollovers

Nicholas P. Smith

I.     INTRODUCTION S.85(1) of the Income Tax Act (Canada) (the “ITA”)[1] allows a person to transfer property to a taxable Canadian corporation on a tax-deferred basis.  This rollover allows a person to defer the recognition of income, capital gains and/or recapture. II.     ELIGIBILITY REQUIREMENTS The eligibility requirements for a tax-deferred transfer under s.85(1) are discussed below.      A.     TRANSFEROR The person transferring the property must be a taxpayer as defined in the ITA.[2]  This includes individuals, corporations and trusts regardless of whether they are resident or…