Probate Planning - Planning Techniques and Recent Changes to the ITA
Understanding the ins and out of the probate process can be daunting. This session will explore various planning techniques aimed to reduce an estate’s exposure to Estate Administrative Tax in Ontario and the importance of undertaking such planning in a structured manner. The concepts covered will provide practitioners with a deeper understanding of how to properly implement these structures. It will also address the recent updates to the Income Tax Act that affects these structures along with the substantial penalties that can result from failure to comply. This course will also explore the pros and cons to implementing the various structures with an aim to ensure that the structure being implemented is in the best interest of the client.
Topics to be covered will include:
· Primary/Secondary Wills
· Bare trust ownership of assets
· Joint ownership of assets
· Alter-ego/joint partner trusts
Marni Pernica LL.B.
Marni is a member of the Tax Group and Estates & Trusts Group at Aird Berlis. Her practice focuses on wills, trusts, estate administration, succession planning, estate and tax litigation and related areas of tax law.
Marni’s sensible and sensitive approach to estate planning enables her to devise clear and effective plans that meet the needs of her clients and their families. She is attentive to her clients’ corporate and personal concerns and presents them with options to resolve issues and maximize wealth distribution.