Trusts in the 21st Century 2023: The Seas are Getting Choppier

Course Date: May 25, 2023

Full Course Materials
Total: 5h 11min
Total Ethics: 1h

Welcome and Land Acknowledgement (9:00 – 9:10)

Fiona HunterHorne Coupar LLP, Victoria

The New Federal Reporting Requirements (9:10 – 10:05)

  • 2022 filing requirements for trusts
  • reporting requirements for 'reportable transactions' and how they may affect your practice
  • new federal law prohibiting non-residents from purchasing residential Canadian real estate

Kathleen A. Butler  Dwyer Tax Law, Victoria
Blair P. Dwyer  Dwyer Tax Law, Victoria

BREAK (10:05 – 10:15)

Navigating Trusteeship: Advising Trustees in Both Calm and Stormy Times (10:15 – 11:10)

  • adding and replacing trustees
  • protecting retiring trustees
  • understanding and using statutory trustee powers
  • amending administrative powers in existing trusts
  • when to seek advice and direction from courts

Genevieve N. Taylor Legacy Tax + Trust Lawyers, Vancouver

BREAK (11:10 – 11:20)

Settling Property (11:20 – 12:15)

  • how to settle land on trustees
  • understanding settlor's interest in private companies (type of shares, restrictions in articles or USA on transfers, shareholders loans)
  • understand how change of trustees may trigger yearend
  • drafting considerations

Paula Bosenberg  Horne Coupar LLP, Victoria
Caroline Deane  Horne Coupar LLP, Victoria

LUNCH (12:15 – 12:55)

Overriding Powers (12:55 – 1:50)

  • what are they
    • powers of appointment
    • powers of advancement
    • powers of resettlement
  • how and when to use

Alison Oxtoby Fasken Martineau DuMoulin LLP, Vancouver

BREAK (1:50 – 2:00)

Avoiding the Riptides of Non-BC Trusts and Section 94 (2:00 – 2:55)

  • dealing with trusts from other Canadian jurisdictions
  • US revocable and irrevocable trusts
  • general tax and planning considerations
  • deemed resident trust provisions in ITA

Christine M. Muckle  Legacy Tax + Trusts Lawyers, Vancouver

BREAK (2:55 – 3:05)

Choosing Beneficiaries (3:05 – 3:55)

  • key issues to consider when deciding who to include as beneficiaries
  • provisions for adding and removing beneficiaries and who should have the power(s)
  • drafting considerations

Dwight D. Dee  Miller Thomson LLP, Vancouver

Concluding Remarks (3:55 – 4:00)

Fiona HunterHorne Coupar LLP, Victoria