our 10th year
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You may know that having a beneficiary designation for your life insurance policies or registered retirement plans (RSPs) is a good idea, including in order to avoid Ontario estate administration tax (previously probate fees) on the value of assets which would otherwise pass through your estate (see our Client Advisory
An increasing number of individuals have connections to more than one jurisdiction which can significantly affect their estate planning. In this Blog post, we explore a few special issues and considerations that need to be factored in estate planning to ensure a comprehensive and effective estate plan where there is
Many Canadians own shares of U.S. publicly traded corporations and other U.S. securities which they may not know can expose them to significant U.S. estate tax on their death and require their executors to file a U.S. estate tax return and pay any U.S. estate tax due. Pursuant to the
Recent revisions to the Estate Administration Tax Act (Ontario) under which the Province charges tax of approximately 1.5% of the value of an estate when a will is probated by the court (colloquially “probate fees”) should be of concern to everyone because of the new reporting, enforcement and penalty provisions
We increasingly see use of the term “trusted advisor”, particularly in the arena of financial and estate planning services. But what is a “trusted advisor” as opposed to someone simply providing advice? At its root I would submit is the requirement that a trusted advisor acts in the best interests
Could you or someone you know be a U.S. citizen without knowing it, and maybe even without having lived in the United States? In this post, we discuss how someone can be a U.S. citizen by virtue of Just sanguinis – blood relationship – and some resulting tax implications. By
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