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Category: Trusts

Getting Ready for the New Trust Reporting and Disclosure Rules

In a previous blog, “The Movement to Transparency and the Erosion of Privacy” we wrote about the global move to greater transparency by government and taxing authorities which they claim is necessary to combat money laundering and tax evasion. As part of that agenda which the government asserts is necessary

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Beneficial Ownership Disclosure: Only the Latest Hit

People often wish to ensure confidentiality in doing their estate planning as an important goal. A trust is a common vehicle to do so, since court probate processes, which have been around for centuries, are public and once a will is probated it becomes a public document. The current government

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Special Needs, Special Trusts

When it comes to ensuring a loved one with a disability is taken care of, few things are more important than a well-considered plan. And yet, for many, it can often seem as if few things are more difficult than planning for a disabled family member. Often the difficulty arises

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The Common Reporting Standard – What’s in Store

July 1, 2017 is not only Canada’s 150th birthday and a cause for great celebration, which we are eagerly looking forward to. It is also the date that Canadian financial institutions must have in place appropriate procedures to provide information to Canada Revenue Agency on financial accounts held by non-residents

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Keeping Things Up-To-Date

Putting estate planning documents in place can be a daunting task, but it does not end there. Estate planning is an organic process that requires ongoing attention and revision. Circumstances in your life will continue to change and your main objective is to ensure that your wishes and intentions are

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Special Needs Planning: Knowledge is Power

As parents, we worry about our children: a truism that becomes even more true, and often extends to siblings, grandparents, aunts and uncles, when a child has special needs. We worry about what will happen to the special-needs individual, how they will care for themself and be cared for, and

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The Emerging Role of Protectors in Canada

A “protector” is a person who is given special rights and powers under a will or a trust instrument to participate in the administration of an estate or a trust. Protectors generally provide an oversight function–they ensure the trustees are administering the trust in accordance with the testator’s or settlor’s

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Don’t let cross-border properties turn into cross-border pains

Perhaps I should refrain from re-stating the obvious, but it bears repeating–we live in an increasingly global and mobile society, where people move from jurisdiction to jurisdiction with relative ease. And when we’re not picking up and moving residences, we’re travelling to foreign destinations and buying property, opening bank accounts

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The Many and Varied Uses of Letters of Wishes in Your Estate Plan

Estate planning documents (such as a will, power of attorney for property, power of attorney for personal care, Henson-type trust and/or inter vivos trust) are the legal framework of an estate plan–the “apparatus”–which can seem to be a tricky network of legal rules, directions, and often unavoidably, a lot of

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