Read past issues and subscribe to Legal Alert — Pushor Mitchell’s free monthly newsletter.
The latest news and events at Pushor Mitchell LLP
Read past issues and subscribe to Legal Alert — Pushor Mitchell’s free monthly newsletter.
The latest news and events at Pushor Mitchell LLP
Theresa Arsenault, K.C., one of the most experienced and highly respected lawyers in the Okanagan, focuses on estate planning law and business law in her practice. Her clients benefit from…
Trusts can be an important part of your estate plan. There are many types of trusts, and your estate planning lawyer can help you determine if a trust will be beneficial for you. To help you understand a bit about the various trust used in estate planning, the following is a basic primer on types of trusts.
Probate fees of 1.4% of the gross value of assets located within British Columbia and passing through an estate in British Columbia are payable to the BC government at the time an estate is probated. In an effort to avoid these fees, people often transfer assets into joint tenancy with one or more of their children or others. This can create a whole other set of problems for people as we'll describe below.
Capital Gains Issues
Joint Partner Trusts and Alter Ego Trusts are new forms of inter vivos trusts which make inter vivos trusts far more attractive as a planning tool for older clients. Previously, inter vivos trusts were burdened with the unfortunate income tax result of a deemed disposition of the assets transferred into the trust. This often had the effect of accelerating capital gains tax payable on the increase in value of the assets, which tax would otherwise not be payable until the death of the last spouse. Under the proposed new forms of trusts, provided certain requirements are met,
Bequests in Wills are the largest source of charitable giving. Bequests have continued in growing popularity because:
1. People have more money than they need to adequately provide for their spouse and children;
2. People are recognizing the urgent need in organizations providing health care, education and social services, as government funding cuts continue;
3. People want to help and want to leave a legacy to their community;
4. Some people appreciate the tax break that is available for bequests made in Wills.
PRESENTATION BY
THERESA M. ARSENAULT
OF PUSHOR MITCHELL LLP
“UNDERSTANDING INDIAN ACT CONVEYANCING"
APRIL 14, 2000
UNDERSTANDING THE DEVELOPMENT PROCESS FOR ON RESERVE LANDS
Pushor Mitchell’s “Legal Alert Blog” evolved from our long-running “Legal Alert” client newsletter. Here, we share news our clients need to know, such as changes to the law, major case decisions, industry trends, and other legal issues that affect people and organizations in B.C. Occasionally, we also share firm news and announcements, as well as stories about our involvement with community groups throughout the Okanagan.
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