CV Blog

Insights to help you understand your finances and our world better.

If you are looking to learn more about us or curious about what is going on in the world of finance and how it affects you, you’ve come to the right place.

Get CV News updates in your mailbox

Estate Planning Council Roundtable Discussion on Corporate Fiduciaries

Estate Planning Council Roundtable Discussion on Corporate Fiduciaries

Our Steve Ivacko recently presented at the Estate Planning Council, Vancouver Chapter, together with BMO’s Lisa Finden.  The topic they were tasked with was ‘The Benefits of a Corporate Trustee’.  As expected, there was a bit of a back and forth on using a large bank as opposed to a local independent corporate trustee.  To not sound too biased, we thought we would post what both presenters could agree on – the 7 benefits of using an independent fiduciary.

(more…)

March 13, 2018 0

I want a Trust just like Justin’s

I want a Trust just like Justin’s

As mentioned in our last CV TrustCo blog, we will discuss what is left after the federal government’s July 18th tax proposals.  Using a Canadian Controlled Private Corporation may lose some of its tax advantages.  However, Trusts have survived.  This blog will highlight the benefits of holding assets in a Trust and how a Trust can facilitate long term family planning.  

(Trust and Estate law, Family law, and Tax law are all minefields in their own right, and increasing areas in family litigation.  This CV TrustCo blog discusses Trusts and concepts at a very high level, so please read and appreciate accordingly. ) (more…)

September 26, 2017 0

Justin – What are you thinking?

Justin – What are you thinking?

On July 18, 2017, the Dept. of Finance released a Consultation Paper on their interpretation of certain unfair tax advantages private corporations and their shareholders benefit from in terms of income splitting, passive investments, multiple capital gains exemptions (CGEs) and the conversion of income into capital gains (not widely used).

This two-part blog provides some of the insights that we at CVTrustCo are hearing as we speak to our professional networks.  First part – the rant.  Second part – the benefits that survive. (more…)

September 12, 2017 0

Lazy Days of Summer

Lazy Days of Summer

It’s summer, and the last thing you want to be thinking about is estate and succession planning – or is it?

In our experience, the fall business season is chock-a-block full of business development, hiring, training and the launch of new products – this flurry of activity culminates with the Holiday Season.  Estate and succession planning in the fall is often relegated to the back burner.  Maybe this summer is a great time to start thinking about what you’re going to do with your business and how all this fits in with your family.  Heady stuff for sipping a G&T on your  deck.

So, here are two things – our list of opportunities to start thinking about, and your summer reading and viewing list. (more…)

July 11, 2017 0

Probate fee planning for those under 65 now confirmed

Probate fee planning for those under 65 now confirmed

 

We blogged about multiple wills in December 2015 as a strategy for those under 65 to reduce probate fees (1.4% of the value of an estate).  Our understanding at that time was that multiple wills were accepted as a matter of policy, as opposed to being confirmed by a BC Court.  Well, the Berkner Estate court decision (2017 BCSC 619) has now confirmed the effectiveness of multiple wills.

This blog post expands on the planning opportunities of using multiple wills, as well as some of the practical issues. (more…)

June 19, 2017 0

Planning with Trusts as we Age

Planning with Trusts as we Age

Depending on one’s stage of life, there are different planning tools available to protect assets and plan appropriately for our families.  Earlier in life, dual wills or inter-vivos trusts can provide some unique opportunities.  Later in life, alter-ego and joint-partner trusts are excellent estate planning tools.  Benefits range from probate savings to protection from wills variation litigation.  However, they must be administered properly to work. (more…)

April 18, 2017 0

Naming a Corporation as a Beneficiary of a Family Trust

Naming a Corporation as a Beneficiary of a Family Trust

When creating a new discretionary family trust to own shares of a private corporation, the question is always asked:

Who should the income and capital beneficiaries be?

After going through the usual list of parents, children and possible grandchildren, the naming exercise typically grinds to a halt.  But what if a corporation (“BenCo”) was added as an income and capital beneficiary? (more…)

March 21, 2017 0

The Case for a Corporate Executor

The Case for a Corporate Executor

One of the most important things you can do in your life is to have a will – it represents what is likely the largest transfer of assets one will ever carry out.  While thinking about and discussing one’s demise is not a pleasant exercise, it is an essential piece of planning that everyone should go through.  Even for people with simple affairs, not preparing a will to deal with your assets can cause months of delay and could possibly require involvement by the Public Trustees (more government). (more…)

February 14, 2017 0

© 2019 CV TrustCo