Information About McLennan Ross Wills & Estates Law Blog
Below is a preview of the five most recent posts from the blog McLennan Ross Wills & Estates Law Blog. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!
- Passing Down the Farm
By Michelle Fong and MaryAnne LoneyFarming is a fundamental part of our Canadian society and history. Entire generations of families have lived, thrived, and survived on the same land. However, farms today are increasingly large and complex operations. As such, various tools have been developed over … Read more »
- Tax Obligations of an Estate and Executor
by Michelle FongIn a recent Alberta case (Muth Estate, 2019 ABQB 922), the Court found that an Executor could not legally require beneficiaries to indemnify the Executor for the payment of taxes owed by the Estate.The deceased died in 2008. His ex-wife (Ms. Muth) and a set of nieces and nephews firs … Read more »
- Proposed Changes to Foreign Affiliate Dumping Rules: Individuals, Trusts and Estates May Now Be Caught
By MaryAnne Loney and Moe Denny The government is proposing changes to the Income Tax Act which could impact many Canadian corporations with foreign affiliates.Of particular concern are situations where controlling interests in such corporations are owned by individuals emigrating from Canada, or tr … Read more »
- What Do The New Tax On Split Income (“TOSI”) Rules Mean For Trusts?
By: MaryAnne LoneyA recent tax change that has gotten a lot of attention is the tax on split income, or “TOSI”. Through design or inadvertently, many trusts will be affected by these rules. Many family trusts were set up at least partially to split income to family members. Even when income splittin … Read more »
- The Value of Digital Assets and Why It Should Not Be Ignored in Estate Planning
Author: Marika Cherkawsky, Student-at-Law Your house, children, jewelry and art, these are all the typical items a person will think about when planning their Estate. However, what is often forgot about is a person’s digital assets. In a report on digital assets, Kimberly Whaley, defines digital as … Read more »