Timing is Key with FIRPTA Withholding Certificate Application
When submitting an 8288-B Withholding Certificate Application under the FIRPTA rules, timing is everything.
16
06, 2017
Charitable Donations as an Estate Planning Tool After 2016
Due to changes in the Income Tax Act, charitable donations made under a Will may require a re-visit.
16
05, 2017
The Importance of Multi-Jurisdictional Powers of Attorney
This blog discussed the importance of understanding multi-jurisdictional powers of attorney for Canadians who travel between Canada and the US.
25
01, 2017
Section 1031 Like-Kind Exchanges for Canadian Residents
Section 1031 Like-Kind Exchanges for Canadian Residents By Samantha Wu January 25, 2017 When a Canadian-resident seller sells real property in the U.S., he is required to report the sale by filing a tax return (1040NR) to the IRS and paying capital gains tax. Many have heard of “Like-Kind Exchanges” under [...]
26
11, 2014
Estate Planning Considerations for the Family Cottage
In the last few years, I had the pleasure of spending many summer weekends at a friend’s family cottage in the beautiful Georgian Bay. Like many retired Canadians, my friend’s parents spend virtually every weekend at their cottage, which they built with their own hands decades ago, and plan almost every holiday and major family event [...]
25
03, 2014
What is Mine Might Not be Yours: Estate Planning for Blended Families
Post-divorce, many Canadians are lucky enough to find second relationships, whether it is cohabiting leading to a common law partnership or another trip down the aisle. According to a 2011 census data release by Statistics Canada, blended families (where one or both spouses have children from previous relationships) have become a national norm, representing about one in eight couples’ families with children. This blog takes a closer look at the type of estate planning issues that blended families can face. As new relationships are formed with the new spouse’s family, estate planning becomes more complicated and steps must be taken to ensure that your intentions to protect your children from the prior marriage and/or for your new spouse to be protected upon your death, and that your estate will ultimately be distributed to the intended beneficiaries. […]