Tax Planning for the Wealthy Family

Cover all the bases for estate planning and avoid excess taxation
Date: September 11 & 12, 2013
Location: Toronto
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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
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.
Michael Morgan, Chappell Partners LLP
Michael C. Morgan, Partner at Chappell Partners LLP, practices in the areas of taxation law, estate planning, wills, trusts and estates, tax disputes resolution and business law.
Deborah Kraft, University of Waterloo
Deborah Kraft is Director of the Master Taxation Program at the University of Waterloo. She regularly consults with clients regarding financial management, retirement, estates, trusts and succession planning.
James W. Kraft, BMO Financial Group
James Kraft is Vice-President, Financial Planning Services, Insurance, at BMO Financial Group. He is an accountant, consultant and estate planner.
David P. Stevens, Gowling Lafleur Henderson LLP
David Stevens is Partner at Gowling Lafleur Henderson LLP. His practice focuses exclusively on taxation, including personal and charities tax.
Kevin Wark, Conference for Advanced Life Underwriting (CALU)
Kevin Wark is President of the Conference for Advanced Life Underwriting. Prior to his role at CALU, he was Senior VP, Business Development with PPI Financial Group and President/CEO of a Equinox Financial.
Richard M. Wise, MNP LLP
Richard M. Wise, is a Partner specializing in business valuation and forensic accounting in MNP LLP.
Peter A. Wouters, Empire Financial Group
Peter Wouters is Director, Tax & Estate Planning and Retail Insurance Products & Marketing at The Empire Life Insurance Company.
Nathan Wright, Nathan Wright Law Professional Corporation (an affiliated entity with Cadesky and Associates
Nathan Wright is a Partner Cadesky and Associates LLP. Nathan specializes in corporate and personal estate tax planning for owner-managed businesses.
Melanie McDonald, Borden Ladner Gervais LLP
Melanie McDonald is a Tax Partner in the Wealth Management Group at Borden Ladner Gervais LLP. Her practices focuses on estate planning for entrepreneurs, executives and other high-net-worth families.

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, taking into account the latest legislative amendments and proposed amendments, as well as recent judicial decisions and CRA pronouncements.

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

Loans vs. gifting arrangements

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 both the tax issues that can arise on a transfer of ownership 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

Drafting shareholders agreements that are consistent with a succession plan

Separating succession of ownership and succession of management

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

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

Immigration issues: immigration trusts; reporting requirements for new immigrants

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 options available, it is often difficult to understand what they all mean and how they will affect tax planning. 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?

International Wealth and Tax Planning
The internationalization of the global economy has increased the complexity of tax planning and wealth management. This session will address the challenges of international wealth and tax planning, concentrating on the theoretical and practical aspects of international taxation with regards to the wealth of private individuals and families.

International wealth planning opportunities and their pitfalls

International taxation principles and their application

Treatment of multiple residencies

Gifts and inheritance across borders

Income Tax and Estate Planning, Wills and Family Litigation
What happens when all your planning goes wrong because of totally unforeseen events? What can you do to halt litigation before it even begins? This session covers recent cases of importance and discusses steps that can be taken by the testator and their advisors to protect the family business and stop litigation before it arises.

Structuring the tax/estate plan

Protecting the family business

Matrimonial and shareholder considerations

Tax planning and the oppression remedy

Valuation of a beneficiary’s interest in a trust

Multimedia Presentations

MULTIMEDIA PRESENTATION
Charitable gift planning
M. Elena Hoffstein
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.
Tax-efficient use of life insurance
Robin D. Goodman
RBC Financial Group
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
The use of trusts in estate planning
Corina Weigl
Fasken Martineau DuMoulin LLP
Post-mortem tax planning strategies
Rachel Blumenfeld
Miller Thomson LLP
Estate planning for spouses/couples
Melanie McDonald
Borden Ladner Gervais LLP
Recent developments in US tax & compliance matters
Terry Ritchie
Transition Financial Advisors Group
Wills: avoiding excess taxation
Clarke Barnes
Fasken Martineau DuMoulin 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
Equity-based alternatives: Executive compensation in volatile times
Chris D'Iorio
PricewaterhouseCoopers LLP
Supplemental Executive Retirement Plans (SERPS)
Jessica Bullock
Blake, Cassels & Graydon LLP
Cross-border executive compensation issues
Peter Megoudis, B.C.L., LL.B., LL.M.
Deloitte & Touche LLP
Tax implications of receiving executive compensation
Jamie List
Bearing Capital Partners
Tax-effective stock-based compensation
Christina H. Medland
Meridian Compensation Partners
Succession planning: Use of trusts and tax issues
Ian M. Hull
Hull & Hull LLP
Tax Planning for the Purchase and Sale of Assets
Steve Landau
Ernst & Young LLP
Reportable transactions and aggressive tax planning
John Sorensen
Gowlings

Participants

Aird & Berlis LLP

BMO Financial Group

Borden Ladner Gervais LLP

Conference for Advanced Life Underwriting (CALU)

Chappell Partners LLP

Empire Financial Group

Gowling Lafleur Henderson LLP

Miller Thomson LLP

MNP LLP

Nathan Wright Law Professional Corporation (an affiliated entity with Cadesky & Associates)

University of Waterloo

Who should attend

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