One Hat Too Many: Risks of Overlapping Roles in Family Trusts
A trust is an important estate planning tool which helps control the succession of your assets, provides asset protection and if properly constituted can provide tax benefits. Ontario law does not expressly prohibit the same individual acting as settlor, trustee, and/or beneficiary in the same trust.
Offshore Structuring: What do I need to know?
In recent years there have been many regulatory and legislative changes related to the rules pertaining to setting up your business offshore. Although there are many reasons, other than tax efficiency, which exist for establishing a presence offshore, such as owning or holding investment or rental properties
When is it right to consider Cross Border (USA) and Offshore structuring?
Offshore structuring has a bad rap. In recent years, exposés, investigative journalists and various documentaries and movies sensationalized how billionaires and big corporations stashed money abroad in hidden bank accounts to avoid taxes, which has drawn the ire of the public and the scrutiny of regulators.
Working from Home during Covid-19: Are You Becoming an Independent Contractor?
One of the most profound results of the Covid-19 pandemic has been the effect it has had on the composition of the workplace. Working remotely has forced employers to move to a task-based measure of labour…
Business Leases in the Time of Covid: What you Need to Know!
Even with the “work from home revolution” caused by the Covid-19 pandemic, many businesses still need space for inventory, operations, retail facilities and for a plethora of other reasons. The Ontario Commercial…
Buying a business? Don’t Sign Anything Before Reading This!
Buying a business is a great way for an entrepreneur to hit the ground running by acquiring a going concern with existing clients, cash flow and infrastructure such as an office and employees. Buying an existing…
Have you been named as an executor? Here’s what you need to know!
If you have been named as an Executor in someone’s will you have a serious obligation that involves estates, tax, family, real estate and business law. Navigating all these areas of law can be tricky. Here are some issues…
Tools to Minimize Taxes in Estate Planning: Why Using a Will is not Always the Best Option
There are many tools that can be used to minimize the MANY taxes that can impact how much your beneficiaries actually get after your death. For example, Joint Tenancy on Real Property is often used as an estate…
Can I make a Will when I don’t have any family in Canada?
If you live in Canada and hold things like bank accounts, real estate, investments or other valuable property, it is important to have a will. A will allows a trusted friend or relative (the Executor) know how you want…