US Citizens Abroad Organise to Fight Worldwide Tax Net
This article address the issue of the tax problems faced by expatriate American citizens, especially with regard to Foreign Account Tax Compliance Act (FATCA) compliance.
Wills, Estates and Succession Act Coming into Force
The long awaited Wills, Estates and Succession Act (“WESA”) will be coming into force on March 31, 2014 and it will bring with it many changes to the current wills, estates and succession laws in British Columbia. Consequently,…
New Family Law Act – Coming on March 18, 2013
On March 18, 2013, the new Family Law Act (the “Act”) is coming into effect and along with it are several changes to the law as we know it in British Columbia. Although we are not family law…
The New Limitation Act and Demand Promissory Notes
When family members enter into financial arrangements with each other, there is often a hesitation to document those arrangements. Therefore, many choose to document loans between family members and friends by using Demand Promissory Notes. A Demand Promissory…
No Will – More Worries?
The Supreme Court of British Columbia has recently heard and decided upon an estate dispute (Souraya v. Kinch), which concerned the estate of Billy Jaswant Singh Rai, who was involved in criminal gang activities for many years. Billy…
Online Information now available for Registered Charities
Canada Revenue Agency has just announced a new feature on their online Charity search function. The feature, “Charity Quick View” now displays a summary of the Registered Charity Information Return. The Registered Charity Information Return is filed by…
If Artwork can’t be sold should it valued at $0?
A recent article in the New York Times covers an interesting position taken by the IRS in relation to a piece of artwork entitled “Canyon” and created by Robert Rauschenberg (the “Artwork”). The “sculptural combine” Artwork includes a…
The Perils of Joint Tenancy with Children
A recent case decided by the Supreme Court of British Columbia, Eng (Re), demonstrates the risk parents take when adding their children to title to their property in joint tenancy. Adding a child as a joint tenant on…
An Oil Tank Surprise
In a recent case from the Supreme Court of British Columbia, A Speedy Solutions Oil Tank Removal Inc. v. Horvath Estate the Executor of the Horvath Estate had entered into a contract to sell the estate real property…
Can a beneficiary force an Executor/Trustee to make an interim distribution from an Estate?
Although it is an established tenant of estate administration law in British Columbia that an executor has their “executor’s year” before they must start distributing the estate, a recent decision from the Supreme Court of British Columbia has…