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Thursday, July 08, 2021 @ 1:57 PM

Estate trustee checklist Red checkmark

As wills, trusts and estates practitioners, it is important to review the liabilities and entitlements of estate trustees on a regular basis to properly advise clients of what the role entails when they administer an estate. First, the liabilities: ... [read more]

Thursday, July 08, 2021 @ 11:53 AM

How are cryptocurrencies different from shares? Finger pushing Bitcoin symbol, which sits on a spring

There is a myth, or perhaps a misunderstood congruence, that cryptocurrencies are analogous to shares, with the only differences being a consideration of shares as “old” and “safe,” while crypto is “new” and “risky.” While cryptocurrencies certainly are a more recent creation, their differences extend far beyond the willingness of investors to engage in a risk-laden currency market. ... [read more]

Tuesday, July 06, 2021 @ 2:39 PM

Real estate agents beware: Commission rebates can be taxable to clients Real estate agent showing property to couple

There are nearly 40,000 real estate agents in Toronto; that is one agent for every 140 Torontonians! In Vancouver, the numbers are even more staggering — one agent for every 61 Vancouverites. In order to stand out from their competitors and attract potential buyers, some agents offer so-called commission rebates (a.k.a. “kickbacks”). ... [read more]

Monday, July 05, 2021 @ 9:03 AM

Secondary wills for real estate that doesn’t require probate Man with calculator and model of house on desk

When a person dies with a will, the appointed executor typically applies for probate to certify the will. One important thing to remember, however, is that probate is not always necessary. It depends on what was in the estate. At common law, “the executor obtains authority, not from the probate, but from the will.” ... [read more]

Friday, July 02, 2021 @ 11:45 AM

Lavery adds two lawyers, two paralegals to team

Lavery Lawyers announced the arrival of four new professionals to its team, Laura Bassal, Marie-Claude Côté, Marc-Étienne Lauzon-Joset and Brandon Yin. ... [read more]

Friday, July 02, 2021 @ 8:33 AM

FINTRAC gets flexible with new anti-money laundering requirements Businessman pointing at ant-money laundering tools

On June 1, 2021, substantial amendments to the regulations issued under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) came into force, along with a comprehensive set of new and updated guidance documents issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Taken together, these amended regulations and the new and updated guidance documents effect a wide-reaching overhaul of Canada’s anti-money laundering regime, and all entities that have reporting obligations to FINTRAC (known as “reporting entities”) will need to carefully assess and uplift their anti-money laundering (AML) policies and compliance procedures. ... [read more]

Wednesday, June 30, 2021 @ 9:40 AM

New insurance associate for Cox & Palmer in Halifax

Cox & Palmer welcomed Kalyn Hunley to its Halifax office. She joins as an associate in the insurance group where she will work with insurers, brokers, adjusters and self-insuring organizations. ... [read more]

Tuesday, June 29, 2021 @ 1:59 PM

Gowling adds Ottawa tax partner

Gowling WLG welcomed André Bergeron to its national transfer pricing and competent authority group as a partner in Ottawa. ... [read more]

Friday, June 25, 2021 @ 3:08 PM

McMillan strengthens tax expertise by welcoming new partner

McMillan LLP has announced that Steven Sitcoff has joined its Montreal office as partner in the tax group. ... [read more]

Thursday, June 24, 2021 @ 1:43 PM

Charitable foundations: Choosing the right structure Four hands forming a solid square

Charitable foundations are structures for long term, flexible and customized philanthropy. Both private and public foundations enable donors to make long term gifts and have various benefits, including: creating a lasting legacy, involving family members in the giving process and charitable tax credits. These structures may be attractive for donors who are interested in creating gifts that will have a lasting impact on charitable causes that are important to a donor and his or her family. ... [read more]