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Restrictions on Distribution of Estate After the death of a spouse, no distributions can be made out of the estate during the six month period immediately following the deceased spouse’s …
ESTATES & EXECUTORS: How the Family Law Act impacts the administration of an estate Read More
Continuing the discussion of the effects of a Family Law election on various aspects of estate administration; its effect on intestacy is now reviewed. Effect on Intestacy In Ontario, Canada …
ESTATES & INTESTACY: Spousal statutory rights when there is no Will Read More
In Ontario, Canada, it cannot be stressed enough how important it is for the surviving spouse to establish his or her entitlement to insurance proceeds and to survivorship benefits under …
Taxation of Beneficiaries Under subsection 104(13) of the Canadian Income Tax Act (“ITA”), the income of a trust or estate that is paid or payable to a beneficiary is taxed …
TRUSTS & ESTATES: How your Beneficiaries are taxed Read More
Trusts and Attribution The attribution rules for trusts, transferors, and so on are given in Subsections 74.1(1) and 74.2(2) of the Canadian Income Tax Act (“ITA”). These rules are meant …
TRUSTS & ESTATES: Transferring assets to your spouse or children Read More
Rates of Tax Under s. 117, Income Tax Act in Canada (the “ITA”), a testamentary trust is subject to tax, at the same graduated rates as an individual, while the …
The Taxation of Trusts: Understanding Rates of Tax Read More
