It is important to plan for a variety of scenarios when evaluating your estate planning documents, not just your death.
Tag Archives Succession Planning column
Power of attorney document is important consideration
It is important to plan for a variety of scenarios when evaluating estate planning documents — and not just your death
Family members must understand farm’s succession plan
A well-crafted plan on paper is only half the job. If your family doesn’t understand your intentions or your plan is poorly implemented, confusion and disputes can arise after you’re gone, sometimes undoing years of careful planning.
Tax trap lurks for unwary blended farming families
The Canada Revenue Agency has narrowly interpreted the definition of “child” in the context of blended families. Consulting with a succession team can help families find a workable solution.
Intergenerational rollover rules can help succession plans
One of the most significant concerns in succession planning for farmers is the tax bill that can come with passing the farm to the next generation.
Understand limitation periods if considering civil suit
A limitation period refers to the amount of time a plaintiff has to commence a formal claim in court or lose their ability to pursue it.
Starting a small business comes with legal considerations
This article sets out some of the legal considerations to start a business to sell home-grown product, such as vegetables, herbs, fruit or honey.
Variety of options available to manage separation, divorce
In Saskatchewan, there are a variety of process options that people may use to navigate separation and divorce.
What happens to an estate with assets outside of province?
Consider this situation: Dan is 75 years old and widowed with three children. He has a successful farming operation in Saskatchewan, but also owns farmland in Alberta and has a condo in Palm Springs. How do we deal with these assets on Dan’s death?
Farmland sales require special tax considerations
There are various tests that need to be met with respect to each parcel of farmland to receive special tax benefits
Farmland is a unique asset from an income tax perspective, given the ability to either transfer it to children without paying tax or sell it and potentially pay no tax by using the lifetime capital gains exemption (“LCGE”).
How to manage involuntary resignations from employment
Law columnist Faith Baron says if you are an employee and you are feeling pressured to resign your employment, you should seek legal counsel to be sure you understand your rights.
