O'Sullivan Estate Lawyers LLP
Our Mission: Excellence in providing trust and estate solutions in a responsive and personal manner to carry out your objectives and ensure your peace of mind.

July 2015 Archives

Moving to the U.S. and Retirement Plans

Persons emigrating from Canada are deemed to have sold all of their property, with some exceptions such as real estate in Canada and retirement plans, for fair market value proceeds and are subject to tax on any resulting gains. Once resident in another country, a person may be subject to tax in both Canada and the other country on income and gains earned on such property depending on the nature of the property and the relevant tax treaty, if any. Double taxation may also result on future withdrawals from Canadian retirement plans.

Processes for Activating Powers of Attorney - Do You Know Where Your Documents Are?

Those of you who watch U.S. network T.V. news at night are probably familiar with the catchphrase "It's 11 (or 10) o'clock. Do you know where your children are?". Many comedic versions of this phrase have been coined over the years, and it has become part of our modern pop culture. Despite the obvious satirical uses, the message can still be a serious one, reminding us to check on those things most important to us, which we can sometimes lose sight of in our busy lives. Like so many things, powers of attorney for property and personal care are sometimes overlooked until they are most needed, and then finding and using them can sometimes prove challenging.

Trusts and "Total Return" Investing in Challenging Times: Adopting a Winning Approach

One of the perceived disadvantages to using a trust in estate planning is that restrictions on trustees' investment decision-making under trust law will result in lower investment returns. In particular, this is a concern where a trust has an income beneficiary to whom income is paid, usually for his or her lifetime (frequently used where there is a surviving spouse), and on the income beneficiary's death, capital is paid to one or more capital beneficiaries.

We are a top-ranked and peer recognized firm, including Margaret O’Sullivan by Chambers Canada Guide 2017 and Chambers Canada High Net Worth 2016 as one of the top six private client lawyers in Canada:

  • Top Ranked Canada Chambers 2017 Margaret O'Sullivan
  • Margaret R. O'sullivan 2016 | Listed in Best Lawyers CANADA
  • Canadian Legal Lexpert Directory
  • The Law Reviews | Expert Panel 2015
  • Step | Canada | Advising Families Across Generations
  • Top Ranked HNW Chambers 2016 Margaret O'Sullivan
  • Recognised in WHO'SWHOLEGAL | WWL
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