Category: Uncategorized

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

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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

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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

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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  

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The Principal Residence Exemption

Laura M. Peach

PREPARING FOR PROPOSED CHANGES Many taxpayers are aware that an exemption from tax on capital gains may be available when those gains arise from the disposition of their principal residence. However, proposed changes to the Income Tax Act could limit the ability of many taxpayers to claim the principal residence exemption (the “PRE”). Trustees, in particular, need to be aware of the proposed changes. Current Requirements Generally speaking, a Canadian resident individual can claim the PRE if the taxpayer owned the housing unit and it was ordinarily inhabited by the taxpayer or his or her spouse or child. In…

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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.      …

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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…

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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

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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…

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