Taylor Little, ICD.D

The Globe & Mail just published a piece called: "No kids? Here's how to handle estate planning" -- https://lnkd.in/eP4whZzG -- It's a good, quick read. Kinless Canadians (no spouse, no kids) make up almost 1 out of 3 Canadian households. 🏠 🧔 Kinless Canadians have unique situations and wishes. This makes their estate planning less cookie-cutter and more challenging. For that reason, Honor Lay (of RBC Family Office Services) and I wrote a two-parter on this topic: Part 1: General Planning Considerations -- https://lnkd.in/evhi8Hkj Part 2: Special Estate Planning Issues -- https://lnkd.in/eKhRfUPR Some topics that Honor and I cover that The Globe doesn't: 💲 Managing the costs of bespoke planning 👩‍🏫 Preparing executors and attorneys 👶 Leaving assets to minors like nieces and nephews 🎁 How to avoid charitable gifts from going sideways 🐈 Planning for pets #estateplanning #estateplanningcanada #giftplanning #giftplanningcanada

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Premier Legault is a plan B separatist. The CAQ is his fan club. Premier Legault has been a die hard separatist his whole adult life. People do not change their core values. So what is a disgruntled separatist to do now that separatism is a spent political force in Québec? Enact laws and adopt policies to achieve the separatist’s much coveted monolithic uniligual French state by enacting repressive language laws that are removed from constitutional protection by invoking the notwithstanding clause to shield language laws from judicial scrutiny. The CAQ continues the separatist/ nationalist 50 year campaign to delegitimize the centuries old English speaking presence in the territory that today we call Quebec and continues to treat « Canada » like a foreign power occupying Québec territory. Canadian federalism has endured in Quebec for 157 years because it is a better idea than separatism. Since 1968 the separatists have not been able to provide any credible reason to leave Canada. And the importance of the English language in Quebec has remained steadfast. Francois Legault will fare no better than the real deal separatists to achieve the erasure of the English speaking presence in Quebec. It is time for the false narratives to be challenged and dismantled. It is time for politicians who call themselves federalists to start talking and acting like federalists and get in the game.

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Andrew Bond, Ashton W. and I are excited to be heading to Toronto this week for the 2024 ArcStone-Kingswood Growth Summit just one week after the official launch of our Canada Desk which is expertly positioned to support Canadian businesses looking to enter into or expand in the U.S. market. We're thrilled to be a sponsor of this conference which offers expanding businesses the opportunity to explore listings on US and Canadian exchanges such as #NYSE, #Nasdaq, #Cboe, #TSX and #CSE. Our capital markets team at Sheppard Mullin is uniquely positioned to guide Canadian companies through the complexities of cross-border financings such as those under the U.S.-Canada Multijurisdictional Disclosure System (MJDS) and U.S.-foreign private placements including Rule 144A and Regulation S offerings as well as listings on the New York Stock Exchange, Nasdaq and Cboe via traditional IPOs, reverse mergers, uplists from the OTC Markets and various other avenues. We look forward to seeing everyone on September 26th at the Sheraton Centre Toronto Hotel! #capitalmarkets #crossborder #finance #stocks #stockmarket #IPOs #reversemergers #directlistings #SPACs #OTCMarkets #SEC #FINRA #Toronto #Canada

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Check out our latest article on the #TSXV Sandbox, which offers an alternative path for listing non-traditional businesses and adopting innovative transaction structures. Authored by: Jonathan Tong, Andrew Gunpat and Radhapriya Chawla #MTInsights #MTSecurities

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Join Marissa Mah and me as we chat about succession planning for business owners, including looking at multiple wills, tax-saving opportunities, and practical strategies to create a transition plan. Registration details are below!

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More people need to be aware of the new tax exemption for up to $10M of capital gains realized on the sale of a qualifying business to an Employee Ownership Trust (EOT). Do you have a business you would like to sell to your employees? Read the link from the Employee Ownership Coalition.

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In a recent article for Angel Investors Ontario’s Funded Magazine, Megan Cornell draws on her experience to highlight what angel investors need to watch out for when evaluating early-stage startups, including missing documentation, unrealistic business goals and gaps in intellectual property protection. Read the article: https://ow.ly/RQUB30sIx8V #Founders #Investors #AngelInvesting #Startups

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Here are a few reasons why couples in Ontario should consider a cohabitation agreement: 1. Financial Clarity: A cohabitation agreement helps set clear expectations about how finances will be managed, including contributions to household expenses, rent, and savings. This clarity can prevent disagreements down the road.💰😌 2. Asset Protection: It allows each partner to protect their individual assets and specify how shared assets will be divided if the relationship ends, ensuring fairness and security for both parties. 3. Debt Management: The agreement can outline how pre-existing and future debts will be handled, ensuring that one partner is not unfairly burdened by the other's financial obligations. 4. Support Arrangements: In case of a separation, a cohabitation agreement can address potential support payments, reducing conflict and the need for court intervention. 5. Peace of Mind: Knowing that there’s a plan in place can provide peace of mind, allowing couples to focus on their relationship without worrying about the "what ifs."😌 Our Walker Head Family Law Team knows this is a happy time for you. We are here to help you create a cohabitation agreement so you can enjoy this new chapter with confidence and security. Full-Service Law Firm since 1980. ~Walker Head Lawyers🧡 [email protected] 905-839-4484 Durham Region 1-877-839-4484 Ontario . . . . . #Familylawlawyer #Divorcelawyer #Childcustody #Spousalsupportlawyer #Familylawservices #Separationagreements #Childsupportlawyer #Familymediation #Prenuptialagreements #Familycourtrepresentation #Adoptionlawyer #Guardianshiplawyer

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📈 Navigating the BC Flipping Tax: Presale Focus For those investing in presale properties, note that the two-year window for the new Flipping Tax begins the moment you sign the contract—not at property completion. This regulation impacts your investment exit strategy significantly. Planning ahead with these timelines in mind is essential to avoid unexpected tax liabilities. TGL Group CPAs can help strategize your presale investments in light of these new regulations. Please be aware of your filing requirements as this is a separate tax return filing. Contact us for expert advice. 𝗩𝗶𝘀𝗶𝘁 𝘂𝘀 𝗮𝘁 𝘁𝗴𝗹𝗰𝗽𝗮.𝗰𝗼𝗺 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻! #accounting #business #accountant #finance #tax #bookkeeping #smallbusiness #taxes #entrepreneur #payroll #accountingservices #cpa #taxseason #businessowner #money #incometax #accountants #audit #bookkeeper #accountingsoftware #gst #accountinglife #taxreturn #startup #taxpreparer #quickbooks #taxconsultant #management #Canada #Surrey

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🎃 A tax "treat" for Halloween 🎃 Kids in Ontario, Nova Scotia and PEI heading out to trick-or-treat in DIY costumes, rather than the pre-packaged, pre-designed, store-bought alternatives, are actually engaged in some smart, age-appropriate tax planning. In these provinces, there is an HST point-of-sale rebate on certain children's goods, including most children's clothing. In Ontario, for example, this means 8% off the HST. For 2024, it totals to an estimated $160 million in lost provincial tax revenue. But what most of the adorable youngsters dressed as Minions might not realize is that "costumes" are excluded from the rebate, like "garments of a class that is used exclusively in sports or recreational activities". (Fortunately, the CRA has interpreted "exclusively" here to mean that "sports jerseys, scout uniforms, and snowboarding pants and jackets that can reasonably be worn for use outside of sports or recreational activities, qualify for the rebate.") The result is that buying a size 3 child's Minions costume from a party supply store here will attract a sales tax rate of 13%. But buying the yellow shirt and jean overalls in the non-costume area of a clothing store, and relying on your artistic talents to prepare the rest, will essentially mean only paying 5% tax. You can never start them too young. A happy, safe and spooky evening to all those cleebrating!

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🚨Attention estates and trusts and family lawyers in British Columbia👪 Don't miss the Continuing Legal Education Society of BC's upcoming "Estate Planning for Blended Families" conference on Thursday, May 30th, featuring Clark Wilson LLP's Estates & Trusts partner, Zachary Murphy-Rogers! This full-day conference addresses the interplay between family law and estate planning, including the often conflicting obligations presented by these two areas of law. It will outline current trends and tools to consider when advising your clients, with a portion of the course dedicated to the unique practice and ethical considerations applicable to these areas of law. In Zachary's session, "Practice Management and Ethics", he will cover key topics and common questions including: > Representing blended families > Who is your client? > What are your obligations? > Conflicts > Capacity issues, undue influence, and other red flags > Possible meeting locations, including electronic signings This program is targeted at legal professionals at the advanced and intermediate levels of their estates and trusts and family law practices. After participating in this conference, you will: > Have up-to-date information on agreements between spouses > Be aware of tax issues specific to blended families > Understand incapacity planning > Be up to date on wills, trusts and inter vivos planning issues and litigation issues Find the full program agenda and information on how to register here: https://bit.ly/3UUdvTc If you'd like timely and informative articles, news, and events (just like this one) on all things estates and trusts delivered directly to your inbox, subscribe to our complimentary Your Estate Matters e-newsletter here: https://bit.ly/3yFDvrN #BCLawyers #BCLegal #BCFamilies #Estates #Trusts #EstatesAndTrusts #TrustsAndEstates #BlendedFamilies #FamilyLaw

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What changes does Bill C-59 bring to Canada’s Competition Act? In our latest bulletin, we take a look at the additional set of changes to the Competition Act with the passing of Bill C-59, including how it –     expands the merger notification requirements and changes the merger review process; –     revises the interim injunction provisions to prohibit parties from closing a merger until the Competition Tribunal has disposed of an interim injunction application by the Commissioner of Competition; –     add new civil provisions imposing requirements for certain types of environmental claims and create a new clearance mechanism for environmental collaborations; –     expands the scope of private litigation; and –     introduces a power to prohibit a broader set of anti-competitive agreements with monetary penalties. Read the bulletin: https://lnkd.in/gT5wwtuY #CompetitionAtDavies #CompetitionLaw #BillC59 #CanadianLaw #LegalNew #RegulatoryChanges

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I write a lot for my work, but it's been a while since I’ve shared anything in an article or blog format. This week, I finally broke that streak with a new article on one of the topics I’m frequently asked about by clients and colleagues: the lien fund and holdback system. This blog article serves as a primer for owners and contractors, providing a detailed breakdown of holdback obligations—focused on Alberta but relevant across most provinces. It covers what they are, how they operate, set-offs, and how these obligations can be satisfied without resorting to keeping cash under the mattress. This is part of McCarthy Tétrault’s Construction and Project Disputes Group’s “evergreen” article initiative, which aims to offer thorough legal analysis on key topics that will stand the test of time. Typically, you’d need to be a client or order the book (!) to access this kind of content. I hope you find it helpful. Feel free to reach out if you do—and if you’d like to see more articles like this.

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Here is some excellent analysis and historical context from Mark Rendell at the Globe and Mail around the capital gains inclusion rate hike. As I discussed with Mark, I am hearing a lot of concerns from founders and investors about the impact of the change on innovation, entrepreneurship and funding. It's also important to understand that this is coming on the heels of M&A activity slumps in 2022/23 - 2024 was supposed to be the year when buyers and sellers got off the sidelines. We're currently seeing a big push to close deals before June 25 when the change comes into effect, but there is a lot of uncertainty of how things play out after that.

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Thanks to Christopher Liew for including Willful in this CTV News article about whether you need to (or should) work with a lawyer to create your will in Canada. He outlines the 6 key steps to getting an estate plan in order: 1. Take an inventory of your assets (including digital assets) 2. Determine your liabilities so you're aware of your debt load 3. Decide who will inherit your assets (people and/or charities) 4. Create your will 5. Get power of attorney documents (so important!) 6. Organize key documents so your executor/family has access He notes that while you may want to work with a professional, you can easily use tools like Willful to get a will, power of attorney documents, and supporting documents (like our asset & liability list tool):

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If you are interested in learning more about today's government announcement on changes to mortgage insurance as of December 15th, please have a read of Ridhima Pathak's article.

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🚨🚨🚨🚨 We've received a few questions recently about the main residence exemption. So here's our comprehensive webinar on the topic. Don't miss out and get it now. ✔ No dwelling, no exemption ✔ Flipping main residences not tax free ✔ Adjacent land isn't contiguous land ✔ Main residence in a discretionary trust ✔ Forfeited deposits are tax free #tnl #accounting #accountant #tax #ATO #finance #lending #houses #property

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📈 Scaling Smart: Tackling Growth in Family Offices Who doesn't love growing pains?!? In this Canadian Family Offices article, I share my thoughts on how family offices can scale up thoughtfully and effectively. Growth is an exciting yet complex journey that involves more than just adding resources - it requires strategic planning, strong governance, and a clear understanding of evolving dynamics. I share insights on navigating these 'growing pains' and discuss practical steps for achieving sustainable growth. Check it out: https://lnkd.in/gWNNVDF6 #familyoffice #KPMGfamilyoffice #governance #familywealth #KPMGCanada

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For the latest on franchise disclosure practices in Ontario, reading this Update is 𝘱𝘢𝘳𝘢𝘮𝘰𝘶𝘯𝘵: #Franchising #FranchiseLaw #Franchisor #Legal #Rescission #Dispute #Ontario

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