Agenda - June 9th, 2015

  9:00

Welcome and Introduction by PBLI

  9:05

Chair's Welcome and Introduction

 

Nicholas P. Smith                              

Legacy Tax + Trust Lawyers   

  9:10

Bill C-43: Implications of New Legislation for Estate Planning

 

Pam Prior                       

KPMG LLP

 

  • Taxation rate changes
  • Modifications to charitable donation rules
  • Implications for planning using spousal, alter ego or joint partner trusts
  • Insurance trusts 

  10:10

Questions and Discussion

  10:20

Refreshment Adjournment

  10:35

Planning Around the 21-Year Rule

 

David Baxter

Thorsteinssons LLP

 

  • Deemed disposition rules
  • Rollouts to beneficiaries and limitations
  •  Other tax-related strategies in advance of 21st anniversary
  • Corporate freezes

  11:15

Questions and Discussion

  11:25

Recent Trends in Fixing Mistakes and Eliminating Liability: Pallen Trust and Beyond

 

Terry Gill                                     

Gill Tax Law

 

  • Rectification
  • Rescission
  • Mistake
  • When to notify CRA
  12:10

Questions and Discussion

  12:20

Networking Lunch

  1:20

Cross-Border Considerations

 

Will Todd

Davis LLP

 

  • US beneficiaries and Canadian trusts
  • US estate tax exposure for trust beneficiaries
  • FATCA, bank accounts and information reporting
  • Tracking days spent in the US and potential consequences 

  2:00

Questions and Discussion

  2:10

Proactive Drafting Tips for Trusts in Family Law

 

Genevieve Taylor

Legacy Tax + Trust Lawyers

 

Andrea Frisby

Legacy Tax + Trust Lawyers

 

  • Strategic planning when:
    • (1) spouse is the settlor and;
    • (2) a third party is a settlor
  • Drafting to affect value

  2:55

Questions and Discussion

  3:05

Refreshment Adjournment

  3:20

Adjusting the Trust: When Does it Rise to the Level of a Taxable Event?

 

Richard T. Weiland                   

Clark Wilson LLP

 

  • Adding and removing beneficiaries
  • Varying or amending trust terms
  • Renunciation of interests
  4:00 Questions and Discussion
 

Shane Onufrechuk                

KPMG LLP

 

Mary Hamilton

Davis LLP

 

  • Planning in wills
  • Avoiding clawbacks to Provincial benefits
  • Implications of Bill C-43
  • Inter vivos trusts

  4:45

Questions and Discussion

  4:55 Chair’s Closing Remarks
  5:00 Program Concludes