Asset Protection

The latest strategies for protecting personal and business assets
Date: January 28 & 29, 2014
Location: Toronto
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Highlights

Examine strategies for using trusts for asset protection and key principles of establishing effective asset protection trusts

Explore the planning involved in structuring limited partnerships and limited liability companies for the purpose of asset protection

Discuss how asset protection can be achieved in a tax-effective manner

Review family law issues when devising asset protection strategies

Examine corporate structuring considerations for the purposes of protecting family-owned companies

Examine asset protection strategies that protect against or minimize D&O liability

Look at the provisions of Fraudulent Conveyances Acts and best practices for avoiding fraudulent conveyance claims

Faculty

FACULTY
COURSE LEADERS
Maurice Fleming, Miller Thomson LLP
Maurice Fleming, Partner with the Toronto office of Miller Thomson LLP, is a commercial lawyer practicing in the areas of banking and commercial lending, and restructuring, bankruptcy, and insolvency law. Maurice Fleming is the Co-Chair of Miller Thomson's National Insolvency and Restructuring Group as well as being a Chair of Miller Thomson's Financial Services and Insolvency Group in Toronto.
Elie Roth, Davies Ward Phillips & Vineberg LLP
Elie Roth is a Partner at Davies Ward Philips & Vineberg LLP. He has expertise in all aspects of domestic and international tax planning, corporate reorganizations, M&As and corporate finance.
CO-LECTURERS
Jordan M. Atin, Hull & Hull LLP
Jordan M. Atin is a Partner at Hull & Hull LLP. He is a Past Chair of the Ontario Bar Association - Trust and Estates Section and a full member of the Society of Trusts and Estate Practitioners.
Wesley Brown, Morrison Brown Sosnovitch LLP
Wesley Brown is a Partner at Morrison Brown Sosnovitch LLP. He practices corporate/commercial law with experience in all aspects of business law.
Jonathan N. Garbutt, Garbutt Tax Law
Jonathan N. Garbutt is a sole practitioner at Garbutt Tax Law. His practice includes matters of global tax minimization, tax advice for M&A and investment as well as tax controversy & litigation.
Gary Luftspring, Ricketts Harris LLP
Gary Luftspring is a Partner with Ricketts, Harris LLP. He is extensively involved in advising directors and officers and their insurers as to their duties and responsibilities in claims against them.
Todd A. Miller, McMillan LLP
Todd A. Miller is a Partner at McMillan LLP. His practice focuses on income tax, with expertise in the areas of joint venture/partnership agreements, estate planning, employee compensation and the taxation of non-profit organizations.
Michael C. Morgan, SimpsonWigle Law LLP
Michael Morgan is Counsel at Simpson Wigle Law LLP in the Hamilton-Burlington area. His law practice focuses on tax planning, estate planning and tax disputes resolution..
David P. Stevens, Gowling Lafleur Henderson LLP
David P. Stevens is a Partner in the business law department in Gowling Lafleur Henderson LLP. His personal tax and charities practice focuses on succession planning, family trusts, offshore planning, private foundations and charities compliance.
Peter Wouters, Empire Life Insurance Company
Peter A. Wouters is Director, Tax & Estate Planning, the Empire Life Insurance Company. He devotes much of his time to uncovering issues and concerns faced by affluent individuals, professionals and business owners.

Program

COURSE PROGRAM
Asset Protection Trusts
Asset protection trusts are set up to avoid or mitigate the effects of such things as taxation, divorce and bankruptcy. The protection from a trust is enhanced when it is established in offshore jurisdictions. This session will examine strategies for using trusts for asset protection and key principles of establishing effective asset protection trusts.

Establishing asset protection trusts: latest developments in the law

Tax issues in structuring asset protection trusts

Key considerations in use of offshore asset protection trusts

Limits to judgment protection

Professional conduct implications regarding asset protection trusts

Structuring Limited Partnerships & Limited Liability Companies
Limited liability partnerships and limited liability companies are popular ways to structure personal and business affairs so that assets are protected from creditors. This session will explore the planning involved in structuring limited partnerships and limited liability companies for the purpose of asset protection.

Asset protection afforded by limited partnerships

Role of family limited partnerships in asset protection planning

Steps to structuring a limited liability company

Protection provided by a limited liability company vs. a limited partnership

Avoiding fraudulent conveyances

Tax Issues in Asset Protection: Reducing Your Tax Liability
Proper tax planning is a key component of an integrated asset protection plan. Individuals looking for a comprehensive asset protection plan to reduce the risk of a significant reduction of estate assets must take into account tax legislation and case law that could expose them to increased tax liabilities. This presentation will discuss how asset protection can be achieved in a tax-effective manner.

Asset protection and tax reduction options available

Effective utilization and planning for capital losses

Strategies for minimizing or deferring capital gains taxes

Strategies to maximize the benefits of lower tax rates on capital gains and dividends

Structuring the tax/estate plan

Family Law Issues
When considering asset protection strategies, one cannot forego considering family law issues and potential family disputes that can disrupt the process. This session will explore how to take proper consideration of family law issues when devising asset protection strategies, focusing on the interplay between family and estate law.

Assets protection strategies for dealing with marriage dissolution

Use of pre-nuptial, post-nuptial and co-habitation agreements in asset protection

Tailoring family law agreements to your particular needs

Structuring trusts to provide maximum protection from a family law perspective

Use of family trusts: spousal trusts and trusts for children

Asset Protection and Business Succession Planning for the Owner/Manager
Effective asset protection strategies, when utilized in combination with appropriate estate planning structures, can provide the owner/manager with a great deal of flexibility and tax planning opportunities in the context of a business succession plan. This session will examine tax-effective business succession planning strategies intended to safeguard estate assets.

Identifying business succession alternatives

Tax considerations of various succession arrangements

Sale of business vs. intergenerational transfer

Utilizing tax deferrals in the transfer of shares

Uses of family trusts in succession planning

Tax Effective Estate Planning Asset Protection: Tax Risk
Uncertainty regarding the specific type of trust to establish, or not considering the impact of recent tax legislative amendments and case law, could expose 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

Use of trusts for probate tax planning

Alter ego trusts and joint partner trusts

Avoiding Fraudulent Conveyance Claim
Fraudulent conveyance claims are usually the main legal principle used to attack an asset protection strategy, as there is both federal and provincial legislation defining the concept along with ample case law in Canada dealing with it. This session will look at the provisions of Fraudulent Conveyances Acts and best practices for avoiding fraudulent conveyance claims.

Overview of the workings of key provisions of the Fraudulent Conveyances Act (Ontario) and Bankruptcy and Insolvency Act: limitations on asset protection

Distinction between fraudulent conveyances and fraud

Fine line between creditor proofing and fraud

Timing considerations in asset protection strategies

Creditor Proofing Strategies
An effective creditor proofing strategy isolates assets from future creditor claims without incurring undesirable tax consequences. This discussion details key issues to consider when devising a creditor-proofing strategy.

Using testamentary trusts to protect beneficiaries

Rights of beneficiaries to disclaim gifts

Can creditors force a beneficiary to receive a gift?

Do creditors have standing to challenge wills?

Spousal claims: inheritances and other entitlements

Multimedia Presentations

MULTIMEDIA PRESENTATION
The use of trusts in estate planning
Corina Weigl
Fasken Martineau DuMoulin LLP
Insurance choices and their tax implications
Joel Cuperfain, B.A., LL.B., LL.M., CLU, TEP
RBC DS Financial Services Inc.
International wealth and tax planning
Shona N. Stone
UBS Bank (Canada)
Cross-border estate planning
Marina Panourgias
Deloitte & Touche LLP
Wills: Litigation
Brian E. Cohen
Borden Ladner Gervais LLP
Succession planning in the Family Law context
Clare A. Sullivan
Aird & Berlis LLP
Tax-efficient use of life insurance
Robin D. Goodman
RBC Financial Group
Charitable gift planning
M. Elena Hoffstein
Fasken Martineau DuMoulin LLP
Estate planning for spouses/couples
Jennifer Lamb
Borden Ladner Gervais LLP
Advanced income tax planning for maximizing asset protection
William J. Fowlis
Miller Thomson LLP - Calgary
The unique role of life insurance in succession planning
Malcolm Scarratt
Scarratt Estate & Succession Planning, Inc.
Owner-manager tax planning
Kate S. Marples
Legacy Tax + Trust Lawyers
Taxation of investment & retirement income (TFSAs)
Fred Purkey
Davies Ward Phillips & Vineberg LLP
Use of discretionary trusts for tax planning and creditor proofing
David W. Ross
Burnet Duckworth & Palmer LLP
Succession planning: Use of trusts and tax issues
Ian M. Hull
Hull & Hull LLP
Succession planning
Earl Miller
Fraser Milner Casgrain LLP
Advanced income tax planning for maximizing asset protection / Owner-manager tax planning
William J. Fowlis
Miller Thomson LLP
Insurance strategies for HNW and business owners
J. David Thomas
Empire Financial Group
Tax effective executive compensation
J. Milan Legris
AIC Limited
Taxation of investment income
Adam Salahudeen
Scotia Capital
International wealth, tax planning & asset protection
Martin Rochwerg
Miller Thomson LLP
A facilitated approach to transitioning wealth: Building trust and communication
Ruth Steverlynck
BMO Harris Private Banking
Litigation involving trusts & wills
Peter W. Lightbody
Richards Buell Sutton LLP
Cross-border estate planning: Ownership of U.S. real estate by Canadian residents
Fred Purkey
Davies Ward Phillips & Vineberg LLP
Family-owned business shareholder agreements
David Crane
McCarthy Tétrault LLP

Participants

Davies Ward Phillips & Vineberg LLP

Empire Life Insurance Company

Garbutt Tax Law

Gowling Lafleur Henderson LLP

Hull & Hull LLP

McMillan LLP

Miller Thomson LLP

Morrison Brown Sosnovitch LLP

Ricketts Harris LLP

SimpsonWigle Law LLP

Who should attend

VPs, Directors & Managers in finance, taxation & risk management; CFOs, in-house counsel; tax lawyers; experts in corporate & personal tax planning; financial, investment & wealth management planners

Price

Price list:-
  • Course: $1975
  • Course and CD-ROM : $2150
  • CD-ROM Only: $799
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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:
Novotel Toronto Centre Hotel, 45 The Esplanade, Toronto, ON, M5E 1W2, 416-367-8900
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.