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Latest news in Estate Planning

Raymond James acquires Solus Trust

Vancouver-based trust company manages $400 million in assets

Will document

Former fund rep sanctioned over clients’ estate disclosures

Potential conflicts involving clients' wills weren't reported to dealer

Common gaps when appointing an attorney for property and personal care

A case study explains the challenges

Can an executor quit?

Yes, but it’s complicated

gavel

No duty to disclose beneficiary change, court finds

A widow sued her brokerage firm, alleging it failed to tell her about a change in her husband's accounts

Man Sitting at a Table Using a Calculator

B.C. lawyers still wary after a year of electronic wills

Lawyers suggest there are too many unknowns in the process to sway them from more traditional methods

Financial Advisor Assisting Senior Couple

Withdrawal strategy can help retirees reduce tax hit

Helping clients establish a "hierarchy of withdrawals"

Power of attorney and incapacity planning: Do you have a plan?

Addressing estate planning’s ignored middle child

Will document

Disinheriting a child easier in some provinces than others

Recent legal cases highlight varying testamentary freedom across Canada

Business people at work in their office

What to know about the new intergenerational transfer rules

Business owners planning for succession must meet certain criteria

Old vintage books in a row

Disinherited children win big in Alberta and B.C. courts 

Such scenarios are becoming increasingly common as estate sizes increase, a Vancouver lawyer suggests

wills-estate-battle

Ontario amends estate forms, again, to clarify instructions

The province aims to streamline probate applications and speed the court review process

Shot of an adorable little boy and girl having a fun day at the beach with their parents and grandparents

Helping your clients talk to kids about money

The conversation should reflect their age and stage of life

next steps

Breaking down the ‘executor’s year’

Some beneficiaries are entitled to interest on their inheritance starting one year after death

time is money

Estate planning with TFSAs

Avoid the tax consequences of not distributing a TFSA quickly after the account holder dies

Hard working craftsman working with planer in a workshop for woodwork. Handsome man with tattoo and beard.

What your clients should know about real estate renos and repairs

For the best tax treatment, distinguish between current and capital expenses

old photo showing a missing person

Finding missing beneficiaries

What executors need to know when a beneficiary can’t be easily identified or found

audit

Ontario’s estate audit rules keep executors honest

While audits are uncommon, rules introduced in 2015 ensure stringent reporting of assets

photo of hands holding pen under document and pressing calculator buttons

CRA won’t administer proposed new trust reporting rules

Expanded trust reporting requirements announced four years ago were set to be effective, but feds still haven’t passed legislation to enable them

Stock Photo - a boy playing with grandmother at home

In-trust-for accounts and taxation

Factors to consider when setting aside funds for minors

Wooden dock with chair on calm fall lake

Unintended tax consequences of joint tenancy with a right of survivorship

A client scenario with a family cottage shows the importance of planning

family cottage

Blended families creating demand for tax services across jurisdictions: study

Complex relationships are increasing the risk of litigation

  • By: Staff
  • November 29, 2021 November 29, 2021
  • 15:05

Help your client with tax-efficient charitable giving

Use these tips to make the most of a donation tax credit

father and son conversation

Affluent Canadians want to help both their children and the world, research finds

Parents are helping children buy houses and start businesses

RBC partners with estate planning platform to offer online wills

The collaboration provides clients who need basic estate planning an affordable, online option

  • By: Staff
  • November 16, 2021 November 16, 2021
  • 12:31