CAN AN EDUCATIONAL ASSISTANCE PAYMENT BE MADE TO A DECEASED PERSON USING THE SIX MONTH Extension PROVISION CONTAINED IN THE INCOME TAX ACT

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Recently, The Canada Revenue Agency (“CRA”) was whether the six month extension for making educational assistance payments (“EAPs”) out of a registered education savings plan (“RESP”) under the appropriate subsection of the Income Tax Act (the “Act”) can apply when the beneficiary under the plan is deceased. The Act stipulates that one of the conditions for the registration of an RESP is that EAPs can only be paid to or….

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Canada Revenue Agency, Estate Administration, Estate Administration and Probate Applications, Estate Planning, Investments, RESP, Tax Issues, Trusts

OHH, IT’S BEGINNING TO LOOK A LOT LIKE…YEAR END

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As this is my last blog for the 2015 year, I thought I’d take the opportunity to remind readers who are trustees of a discretionary family trust set up for the benefit of their family (or other persons) (referred to as “a trust”) that it is important they consider and document decisions to distribute income (including realized taxable capital gains) out to a beneficiary prior to December 31st. ….

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Estate Planning

A fond farewell

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For the past four years I have been a regular contributor to the All About Estates blog. Although I have thoroughly enjoyed being part of this collaborative process, this will be my last blog post entry. I have enjoyed working as part of the All About Estate teams and sharing our views. I will be continuing to blog regularly on estate law and related topics on the Sweatman Law Firm….

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Estate Planning

Chan and Zuckerberg’s Post-Charity Initiative

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Pretty much anything related to Facebook founder Mark Zuckerberg and his wife Priscilla Chan garners headlines. The announcement that they would be giving away 99 percent of their fortune – currently worth $45 billion in Facebook shares – prompted visions of a massive private foundation in the manner of Bill & Melinda Gates Foundation. Instead the couple said they were putting the fund into a Limited Liability Company (LLC) to….

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Philanthropy/Charitable Giving
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