Have losses? Plan so that you can use them!
One of the consequences of COVID-19 is volatility in the stock market. Some investors facing losses in their portfolios are considering strategies to crystallize them and use the losses to offset capital gains. One-half of capital losses (referred to as...
Estate freeze: The time is now
The COVID-19 pandemic is currently causing over half of the global population to be living under some form of self-isolation. Provincial and territorial government directives are properly constricting business and social activity across Canada to protect our collective health and...
Estate planning during the Coronavirus pandemic: Giving it away
Estate planning can be a challenging process in the best of times. No one wants to face the reality of illness or death. The current pandemic forces us to face that reality. While most of us are in self-isolation, we...
Restarting the clock on a trust’s 21-year deemed disposition: The Coronavirus (COVID-19) economy may be the right time
An estate freeze is an effective mechanism used in estate and succession planning for owners of privately held corporations or for investors with investment portfolios. An estate freeze normally contemplates the current shareholder/owner being issued fixed value preferred shares in...
Elena Hoffstein quoted in The Globe and Mail on benefits of family trusts
The Globe and Mail, "The benefits of family trusts"
Elena Hoffstein comments on family business succession planning and the use of trusts: For Elena Hoffstein, a lawyer with Miller Thomson LLP and expert in estate and family business succession planning, communication is key for achieving favourable outcomes. “Open and...
Nathalie Marchand and Troy McEachren quoted in The Globe and Mail
The Globe and Mail, "Ontario court to consider whether a will can be witnessed online as many Canadians draft new documents"
Nathalie Marchand and Troy McEachren comment on notarial wills in Quebec in The Globe and Mail. In Quebec, a third option exists called a notarial will, in which a notary witnesses the signing and the document does not later need...
How to update a will during the Coronavirus pandemic
During the Coronavirus pandemic (COVID-19), many of us are reflecting on whether our financial and family affairs are in order. Those whose affairs are in order take great comfort knowing that, if something were to happen to them, their family...
Ontario Court of Appeal upholds Marley v. Salga: 2020 ONCA 104
In our July 9, 2019, issue of Wealth Matters[1] we discussed the decision of the Ontario Supreme Court in Marley v. Salga.[2] In that lower court decision, the application judge, Mr. Justice Reid, held that an otherwise valid joint tenancy...
Turning our minds to estate planning and the importance of maintaining an up-to-date estate plan
A number of factors motivate individuals to engage in the estate planning process. Common motivating factors include a change in relationship status, births or deaths in one’s family, a change in net worth and a health diagnosis that turns one’s...
CRA further circumscribes trust 21-year planning strategies involving non-resident beneficiaries
Canadian Accountant
The CRA’s stated positions will result in a chill on tax practitioners’ advice to their clients, says Stephen Sweeney of Miller Thomson. Read the full article
