So many of our clients are doing really exciting, interesting things in their businesses and in the community. Each month, Allison takes a client for coffee to find out more about what they’re up to so we can share their story. This month she sat down with Alberio Bathory-Frota from Servall Development. Meet Alberio Bathory-Frota! […]
The executor (aka the “personal representative”) is the person named in the Will to manage and administer the estate. For most executors, it is their first time being named as executor. If you have been named as the executor you might be feeling overwhelmed, and you might be wondering where to start. The first thing […]
Hudson Law was featured in a recent blog post by the amazing Jessica Janzen talking about the importance of having a Will. Read the full post here. We really have the best clients! Getting a Will, Enduring Power of Attorney and Personal Directive is so important for your family. Just ask Jess: “I wanted the […]
Like many lawyers, I started my legal career in “big law” at one of the top-ranked firms in Canada. It was fantastic training and I still have many great friends at the firm. Not surprisingly, most of the files I worked on involved large public companies. During my time at the firm, my father-in-law, Dave, […]
What happens if your Executor dies? Did you know it’s possible for a stranger to end up handling your estate? You’re probably thinking, “That can’t happen – I have a Will!” If the person you named in your Will to handle your estate (called your “Executor”) dies and you haven’t appointed a backup, your Executor’s […]
EDIT: While we do charge for initial consultations, please note we do offer a free 15 minute phone call to determine whether an initial consultation is appropriate for you. No legal advice will be given during the phone call but we can normally tell within minutes whether we can help you or if you should […]
While there is no estate tax in Canada, there is a deemed disposition tax which is similar to estate tax. When someone passes away, he/she is considered to have sold all of his/her assets at fair market value (ie, a “deemed disposition” of his/her assets) and is taxed accordingly on any gains. There are certain […]
Most small businesses in Canada operate through corporations. Often times, the owner of the business/corporation owns shares of the operating corporation through a holding corporation. Using a holding corporation used to be pretty basic tax planning, but the new tax on split income (“TOSI”) rules may cause some issues with the basic holding corporation structure. There […]
Wills and estate planning become much more complex if you are in a blended family situation, or if you are going through a divorce or separation. In this post, “blended family” is used to describe a family consisting of a couple and their children from this relationship and all previous relationships. Child and Spousal Support […]
As a follow up to last week’s post, “Why You Need a Shareholders’ Agreement“, the following is an overview of some common provisions that are often included in unanimous shareholders’ agreements (“USAs”). However, the provisions below may or may not be appropriate in your situation. Your USA should be constructed to accomplish your specific goals in your […]