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220 – 545 Clyde Avenue
West Vancouver, BC V7T 1C5

Phone: 778-786-0615
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/Estate Planning

Marriage Agreements and Cohabitation Agreements: The Facts

Marriage Agreements (for Married Spouses) Division of property between spouses on a marriage breakdown in B.C. is governed by Part 5 of the Family Relations Act, R.S.B.C. 1996, c. 128 ("FRA"). Without a marriage agreement, assets that qualify as family assets are presumptively owned and divisible equally between spouses. This presumption of equal ownership and [...]

By | August 20th, 2009|Estate Planning, Family Law, Uncategorized|Comments Off on Marriage Agreements and Cohabitation Agreements: The Facts

Estate Planning for Tax Avoidance: Testamentary Trusts

A trust is a relationship among 1) a settlor (or testator in the case of a trust contained in a Will) who sets up the trust; 2) one or more trustees who hold legal title to assets; and 3) one or more beneficiaries who are entitled to the benefit of assets. Unlike a corporation, a [...]

By | August 13th, 2009|Estate Planning, Uncategorized|Comments Off on Estate Planning for Tax Avoidance: Testamentary Trusts

Specialized Estate Planning for a Disabled Beneficiary: A Discretionary Trust Will

A testamentary trust is a trust that is set up in a will and takes effect after the death of the settlor. A discretionary trust is a trust set up where the beneficiary doesn’t have control over the money in the trust. The trustees make all of the spending decisions. The trustees can be family [...]

By | August 13th, 2009|Estate Planning, Uncategorized|Comments Off on Specialized Estate Planning for a Disabled Beneficiary: A Discretionary Trust Will

Basic Estate Planning

There are three documents everyone should have: A Power of Attorney A Representation Agreement A Simple Will A Power of Attorney is a legal document where you can appoint someone (the attorney) to manage your financial nad legal affairs in the event you were unable to do so  yourself, for example due to illness, injury [...]

By | August 13th, 2009|Estate Planning, Uncategorized|Comments Off on Basic Estate Planning

US Residents Owning Canadian Property: Implications and Solutions

Many US residents own Canadian recreational property. What are the issues to be aware of? Implications of Ownership: There are no annual income tax compliance or reporting issues related to holding Canadian real estate for recreational or personal use only.  However, it is important to retain documentation to support the cost of any capital improvements [...]

By | July 30th, 2009|Estate Planning, Uncategorized|Comments Off on US Residents Owning Canadian Property: Implications and Solutions

Issues Arising upon the Death of the Subscriber of an RESP

A common misconception is that an RESP is actually a trust, and upon the death of the subscriber, the assets comprising the RESP will be held in trust for the benefit of the beneficiaries identified in the contract between the subscriber and the promoter. Because of this misconception, many people imagine that they do not [...]

By | May 5th, 2009|Estate Planning, Uncategorized|Comments Off on Issues Arising upon the Death of the Subscriber of an RESP

OBTAINING A COMMITTEESHIP

Nature of a Committeeship A committeeship is a way of protecting the interests of a dependent adult who is incapable of managing his or her affairs (the "patient"). The Patients Property Act of British Columbia ("the Act") legislates how a committee is appointed and how the personal and financial affairs of the patient is managed. [...]

By | April 13th, 2009|Estate Planning, Uncategorized|Comments Off on OBTAINING A COMMITTEESHIP

Deemed Resident Trusts

The CRA was asked whether a testamentary trust, created by the will of a resident in Canada for the benefit of a resident of Canada with a non-resident trustee, will be resident in Canada. The CRA stated that, generally, a trust is considered to reside where the trustee or other legal representative who manages or [...]

By | March 8th, 2009|Estate Planning, Uncategorized|Comments Off on Deemed Resident Trusts

Family and Estate Law Planning Tools for Later Life Relationships

If you are in a second (or later) marriage/relationship, have children from earlier relationship(s), and you don't do a proactive estate plan, upon one spouse dying there is a high likelihood of a problem arising, including possibly a court action. Similarly, one party becoming disabled or a breakdown in the relationship without adequate prior planning [...]

By | January 11th, 2009|Estate Planning, Uncategorized|Comments Off on Family and Estate Law Planning Tools for Later Life Relationships