Tag: Wills and Estates
Tag: Wills and Estates
Creating an Estate Plan for 2021
The arrival of a New Year is the time that many of us like to make resolutions. And while that usually means thinking about things that...
Levy Zavet – Is it time to sell your family cottage?
Quiet days spent fishing on the lake, jumping off the dock into the cool refreshing water, nights spent around a campfire and endless family game nights:...
Levy Zavet – What is a spousal trust for your will?
A spousal trust is an important aspect of the estate planning process that is often overlooked. Sometimes called a testamentary spousal trust, this important tool is...
What happens if you die without a will?
DID YOU KNOW IF YOU DIE WITHOUT A WILL IN ONTARIO?And you are married, have children and your assets are worth more than $200,000, your surviving...
Trusts and Estates: Different Types of Trusts in Canada
Classification of Trusts1. Testamentary TrustsThe Income Tax Act defines a testamentary trust as a trust or estate that is formed consequent to the death of a...
The Taxation of Trusts: Understanding Rates of Tax
Rates of TaxUnder s. 117, ITA, a testamentary trust is subject to tax, at the same graduated rates as an individual, while the rate of tax...
How Trusts are Taxed in Canada
Taxation of TrustsThe taxation of trusts and their beneficiaries are dealt with under Sections 104 to 108, inclusive, of the ITA. The fundamental principle with respect...
Filing Tax Returns for a Deceased Person
TAXATION AT DEATH AND PERSONAL TAX PLANNING Extension of Time for Filing ReturnsAlong with the extended deadline for the filing of the basic terminal return, there...
Wills and estates of Natives
Administration and probateWhen the estate of a member of the First Nation falls within the jurisdiction of the Indian Act, the procedures for administration and probate...
