Tax

How to appoint the right executor

Picking an executor is one of the most important decisions when your clients draft a will. Generally speaking, the executor implements your client’s last will and testament – his instructions and wishes. More specifically, this includes identifying and collecting assets; determining and paying liabilities, preparing and filing tax returns; paying taxes on time; and communicating […]

By Danny Dochylo |September 1, 2009

5 min read

Multiple jurisdictions might mean multiple wills

When advising clients on making a will, it isn’t uncommon to discover they have assets in foreign jurisdictions. That being the case, advisors need to know how to deal with issues that may arise from having overseas wealth. Consider the following scenario. Mary is a Canadian citizen who lives in Ottawa but spends her winters […]

By Akua Carmichael |September 1, 2009

4 min read

Help clients take advantage of education deductions

Is it the growing competition in the workforce, the sluggish economy, or just plain inertia? Whatever the reason, kids are spending more years in university, many of them pursuing expensive graduate studies overseas . For many parents this means outlays for education are higher and longer than originally anticipated. And with these high costs, it’s […]

By Gena Katz |September 1, 2009

3 min read

Understanding offshore investments

It is fairly common to come across a person with a plan that allows them to avoid paying Canadian tax by directing funds to an offshore tax haven country. However, if this plan sounds too good to be true, it probably is. If you are considering directing client funds to an offshore investment or plan, […]

By Bruce Harris, LLP |August 19, 2009

4 min read