15th Tax Planning for the Wealthy Family

Cover all the bases for estate planning and avoid excess taxation
Date: September 11 & 12, 2014
Location: Toronto
See Full Description: Download PDF

Highlights

Hear from Canada’s foremost personal tax and estate planning experts as they discuss:

- Strategies for using trusts to protect accumulated wealth in a tax efficient fashion

- The latest judicial decisions, CRA rulings and other pronouncements

- Most current developments in tax law pertaining to owner-managers and examine tax planning strategies in light of these tax changes

- The interplay between family and estate law and how it impacts estate planning for couples

- The latest insight on the tax and financial considerations of creative charitable techniques

Faculty

FACULTY
COURSE LEADERS
Michael Morgan, Simpson Wigle LLP
Michael Morgan is a Counsel at Simpson Wigle Law LLP. He is an accomplished tax lawyer, providing tax planning and estate planning advice, as well as tax dispute resolution advice, to individual and corporate clients including owner-operated private companies and family businesses.
Martin J. Rochwerg, Miller Thomson LLP
Martin Rochwerg is a Senior Tax Partner within the Tax and Private Client Services group at Miller Thomson LLP. He advises trustees and beneficiaries on estate, trust and charitable administration and dispute resolution, and corporate clients on tax minimization and ownership regimes.
CO-LECTURERS
Hemal Balsara, Manulife Financial
Hemal Balsara is Assistant Vice-President, Tax & Estate Planning at Manulife Financial. His experience includes researching and analyzing complicated technical tax issues including various tax structuring and estate planning issues, dealing with owner manager situations and various corporate and personal tax issues.
Ron Choudhury, Aird & Berlis LLP
Ron Choudhury is a Partner at Aird & Berlis LLP. His practice focuses on all aspects of domestic and international tax. He advises on owner-manager tax issues, executive compensation, residency issues, estate freezes and succession planning.
Glenn M. Davis, Insurance, Trust and Estate Consulting
Glenn M. Davis is Trust and Estate Planning Consultant at Glenn M. Davis Insurance and Estate Consulting. He is non-practicing lawyer who conducts an independent insurance, trust and estate planning practice.
Sunita D. Doobay, TaxChambers LLP
Sunita D. Doobay is a Partner at TaxChambers LLP.
M. Elena Hoffstein, Fasken Martineau DuMoulin LLP
M. Elena Hoffstein is a Partner at Fasken Martineau DuMoulin LLP. She is engaged in personal tax and estate planning, family business succession planning, wills and trusts.
Elie Roth, Davies Ward Phillips & Vineberg LLP
Elie Roth is a Partner at Davies Ward Phillips & Vineberg LLP. His practice concentrates on all aspects of domestic and international tax planning, corporate reorganizations, mergers and acquisitions and corporate finance.
David P. Stevens, Gowling Lafleur Henderson LLP
David Stevens is Partner at Gowling Lafleur Henderson LLP. His practice focuses exclusively on taxation concentrating on corporate tax, personal tax planning and charities.
Richard M. Wise, MNP LLP
Richard M. Wise is a Partner at MNP LLP. He has more than 35 years of experience performing valuations for corporate, transactional and taxation purposes as well as damage quantification.

Program

COURSE PROGRAM
Tax-Efficient Use of Life Insurance
Estate plans often do not contemplate or properly integrate the use of life insurance with the needs of business owners or high net-worth individuals. This discussion will focus on the effective use of life insurance in tax and estate planning.

Transferring ownership of life insurance

Using insurance to reduce tax on death

Business succession Insurance

Donation strategies

Use of Trusts in Estate Planning
Uncertainty regarding the specific type of trust to establish, or not considering the impact of recent tax legislative amendments and tax litigation, could expose a family or an estate to unanticipated tax liabilities. This session will examine strategies for using trusts to protect accumulated wealth in a tax-effective manner.

Types of trusts used for estate planning

Key estate planning opportunities using trusts

Potential for income-splitting

Income attribution rules

Use of trusts for probate tax planning

Alter ego trusts and joint partner trusts

Structuring trusts in the context of an estate freeze

Intra-family wealth preservation strategies

Charitable Gift Planning
In recent years, there have been many developments in the area of charitable gift planning and registered charities. This session will review the current developments relating to high net-worth individuals and families, focusing on the tax and financial considerations of creative charitable techniques.

Timing and structure of gifts to maximize tax credits

Ensuring the credit is where it provides the greatest benefit

Charitable remainder trusts

Private foundations & donor-advised funds

New DQ rules: a shifting landscape

What is fundraising and why it matters

Charitable tax shelters and flow-through vehicles

Leveraged gifting arrangements

Succession Planning In The Family Law Context
Business succession within a family requires a well-organized and well-communicated plan to effectively deal with tax and legal issues that can arise on a transfer of ownership from one generation to another, including family law considerations and issues surrounding family harmony. This session will identify the issues and consider potential solutions.

Reorganizing the corporation to separate business assets from investment assets

Freezing the value of the interests of the existing owners

Using trusts to permit flexibility

Family law considerations and the use of marriage contracts

Drafting shareholders agreements that are consistent with a succession plan

Separating succession of ownership and succession of management

Postmortem tax planning strategies
Understanding the different postmortem tax strategies available is an important way to avoid excessive taxation and protect estate assets. This session will look at the different techniques to minimize tax owing after death.

Postmortem impact that taxes have on estates, trusts & beneficiaries

Disclaiming bequests

Unified credit

Basis adjustments

Election on stock valuations

Charitable contributions

Retirement plan distributions

Loss carryback & pipeline planning

Immigration & Emigration Issues
Whether moving from Canada to the U.S. or immigration from the U.S. to Canada, there is a wide range of personal tax and estate planning issues to consider. This session will focus on these immigration and emigration issues:

Emigration issues

Residency basics and termination issues

Treaty tie-breaker clauses & deemed disposition

Principal residence & stop-loss rule

Posting security & pre-departure planning

Pensions/retirement plans for immigrants from the U.S.

U.S. gift tax issues in Canada

Planning for LLC shareholdings

Insurance Choices and their Tax Implications
With such a wide range of life insurance products available, it is often difficult to understand what they all mean and how they will affect tax planning, including possible cross-border aspects. This presentation will look at what life insurance alternatives are offered and what they imply for different circumstances.

What types of insurance products are available

What products are best suited to what insurance needs

What are the tax consequences of each product choice

How can the tax benefits of life insurance be maximized

Valuations in Estate Planning — Avoiding Litigation Among Family Members
What happens when all your planning goes wrong because of totally unforeseen events? What can you do to prevent litigation among family members before it even begins? This session covers recent cases of importance and will suggest steps that can be taken by the testator and his or her advisors to protect the family’s business as well as other family assets.

Control vs. minority interests

Shareholder buy-sell agreements

Shareholder appraisal remedies: dissent and oppression

Valuation of beneficiaries’ capital and income interests in a trust

Taxation Of Investment & Retirement Income
The investment options that are open to high net-worth individuals have become more sophisticated and diverse, and the tax rules more complex. This session will update your knowledge on:

Tax-deferred savings accounts: TFSA, RRSP, RESP, and RRIF

Overview of new penalty rules for tax-deferred plans

Issues for nonresidents with Canadian

Investment and retirement income

Tax treatment on death

Taxation of interest, dividends, capital gains and pension income

Attribution issues

Multimedia Presentations

MULTIMEDIA PRESENTATION
The use of trusts in estate planning
Laura E. West
Fasken Martineau DuMoulin LLP
Succession planning in the family law context
Clare A. Sullivan
Aird & Berlis LLP
Trusts and estate planning for U.S. beneficiaries
Christine Perry
Keel Cottrelle LLP
Taxation of investment & retirement income
Fred Purkey
Davies Ward Phillips & Vineberg LLP
Insurance choices and their tax implications
Kevin Wark
CALU (Conference for Advanced Life Underwriting)
Wills: Litigation
Brian E. Cohen
Fraser Milner Casgrain LLP
International wealth and tax planning
James A. Hutchinson
Miller Thomson LLP
Business succession planning
Alison Oxtoby
BMO Harris Private Banking
Postmortem tax planning strategies
Kay E. Gray
Grant Thornton LLP
Tax-efficient use of life insurance
Clay Gillespie
Rogers Group Financial
Cross-border estate planning
Will Todd
Davis LLP
Charitable gift planning
Richard Bell
Blake, Cassels & Graydon LLP
Estate planning litigation
Hugh S. McLellan
McLellan Herbert Barristers & Solicitors
Incorporating a holistic approach to income splitting
Don Nilson
Nilson & Company AFT TRIVEST Management Inc.
Owner manager tax planning
Gord Squire
Squire Law Firm
Wills: Avoiding excess taxation
Trent Hamans
BMO Harris Private Banking
Buy-sell agreements & life insurance
J. David Thomas
The Empire Life Insurance Company
Income splitting and the attribution rules
Samantha Prasad
Minden Gross LLP
Capital gains exemption and family business succession
Jay Diament
KPMG LLP
Structuring the sale of a family-owned business
Brandon D. Wiener
Thorsteinssons LLP
The uses of estate freezes in succession planning
Brian Cohen
Dentons Canada LLP
Succession planning: Trusts & tax issues
Ian M. Hull
Hull & Hull LLP
Alternatives to family succession
James Wong
BMO Harris Private Banking
Tax-effective cross-border will planning
Rahul Sharma
Miller Thomson LLP
Tax implications of Canadians buying, selling and renting U.S. real estate
Greg Papinko
PricewaterhouseCoopers LLP

Participants

Aird & Berlis LLP

Davies Ward Phillips & Vineberg LLP

Fasken Martineau DuMoulin LLP

Gowling Lafleur Henderson LLP

Glenn M. Davis Insurance and Estate Consulting

Manulife Financial

Miller Thomson LLP

MNP LLP

Simpson Wigle LLP

TaxChambers LLP

Who should attend

Lawyers in Tax Planning, Lawyers in Estate Planning, Financial Planners, Investment Planners

Price

Price list:-
  • Course: $1975
  • Webcast only : $1575
  • Webcast and Proceedings : $1874
  • Course and Proceedings : $2274
  • Proceedings Only: $599
Order Now>>

View PDF

Additional Information

REGISTRATION:
To reserve your place, call Federated Press toll-free at 1-800-363-0722. In Toronto, call (416) 665-6868 or fax to (416) 665-7733. Then mail your payment along with the registration form. Places are limited. Your reservation will be confirmed before the event.
LOCATION:
Courtyard by Marriott Downtown Toronto, 475 Yonge Street, Toronto, ON, M4Y 1X7, (800) 847-5075
CONDITIONS:
Registration covers attendance for one person, the supplementary course material as described in this document, lunch, morning coffee and refreshments during breaks are provided for registered duration. The proceedings of the event will be captured on audio or video. Multimedia proceedings with all slides and handouts can be purchased separately on a CD-ROM which will also include the event material.
TIME:
Registration begins at 8:00 a.m. The morning sessions start promptly at 9:00.
CANCELLATION:
Please note that non-attendance at the event does not entitle the registrant to a refund. In the event that a registrant becomes unable to attend following the deadline for cancellation, a substitute attendee may be delegated. Please notify Federated Press of any changes as soon as possible. Federated Press assumes no liability for changes in program content or speakers. A full refund of the attendance fee will be provided upon cancellation in writing received 13 days prior to event date. No refunds will be issued after this date. Please note that a 15% service charge will be held in case of a cancellation.
DISCOUNT:
Federated Press has special team discounts. Groups of 3 or more from the same organization receive 15%. For larger groups please call Sandra Frattolillo at 1-800-363-0722, ext. 223 to get more information.
PAYMENT:
Payment must be received seven days prior to the event date.