Estate Planning

U.S. pensions and RRSP transfers

In both Canada and the United States, many employers are reducing their workforce numbers. If you have clients who have left jobs in the U.S. to resettle in Canada, you may be able to help them amalgamate their cross-border retirement plans. Under the right circumstances, this can simplify retirement planning and reduce or eliminate the […]

By Carol Bezaire |March 9, 2009

4 min read

Registered losses deductible to estate

A small change in last week’s budget promises a benefit during declining markets: RRSP and RRIF losses will be treated fairly in estate distributions. When an RRSP or RRIF annuitant dies, the taxable value to the estate includes gains made after the annuitant’s death, taxable in the hands of the estate’s beneficiaries. But until now, […]

By Scot Blythe |February 3, 2009

2 min read

Cheap U.S. vacation property = big estate tax consequences

Lower United States property values and a stronger Canadian dollar have led many Canadians to consider purchasing their dream vacation properties in the southern U.S. However, while owning U.S. vacation property provides a great escape from the often harsh winters of the great white north, it also exposes Canadians to the U.S. estate regime that […]

By Beth Webel |January 23, 2009

5 min read

TFSAs and estate planning

Much has been written about the new tax-free savings accounts: the accumulation of tax-free income, the ability to re-contribute withdrawals and the capacity to access funds without impact to federally sponsored benefits. But what happens to the TFSA on death of the TFSA holder? Generally, clients who have a TFSA can name a “successor holder” […]

By Wilmot George |January 19, 2009

4 min read