One effective way to use a trust structure to minimize tax for an estate and its beneficiaries is to income-split by using multiple trusts in a will.
Market uncertainty has pushed retail investors to look for yield rather than returns, which has made fixed income investing expensive and potentially risky.
Here’s how to use an inter vivos trust (a trust created while the donor is alive to hold property for the benefit of others – usually family members) for income splitting.
Holding property jointly has long been called the “poor man’s will”—a way for a person to transfer wealth on death without spending the money to draw up proper documents. So, if a client is considering transferring property into joint ownership with a spouse or children, play devil’s advocate and explain the risks
Read: André L’Espérance’s column Increasing estate value for the affluent Will estate taxes come back to Canada? They are certainly in the spotlight. The estate tax debate lurches back and forth in the U.S., as the legacy of the tax package enacted by the Bush administration in 2001 – with a sunset clause allowing the […]
Succession planning for the cottage is complex, especially when it’s to be shared by multiple family members who all have an emotional attachment. For many cottage owners, values have increased so significantly that their children may be forced to sell it just to pay capital gains and probate taxes.
Poor choices made by financial planners in connecting their clients to wills and estate lawyers can, and often do, result in lengthy and expensive estate litigation. Solicitor negligence is not something that people like to talk about, but it can be a problem, said Markham-based Andrea Kelly, barrister and solicitor, speaking at the CIFPs’ 9th […]
Frequently incorporated in estate plans for affluent clients, an estate bond is a taxefficient strategy that creates a large and immediate estate value.
A recent SEI Wealth Insight Initiative roundtable suggests that fear of negative outcomes and a lack of confidence in heirs are two of the biggest barriers to families sustaining and growing wealth over time. The roundtable gathered small groups of wealthy families—those with more than $5 million in investable assets—to discuss their experiences and offer […]
Frequently incorporated in estate plans for affluent clients, an estate bond is a taxefficient strategy that creates a large and immediate estate value.