Trust and Estate Taxation
The area of trusts and estates practice is a complex one, with many opportunities for tax planning. These tax-planning opportunities include
- minimizing tax through income splitting;
- planning for deferral of capital gains;
- planning to minimize taxes on death and to an estate through the use of special elections;
- evaluating certain non-resident strategies to "export" the trust to a favourable tax jurisdiction;
- tax planning for the division of the trust assets, either to beneficiaries or to other trusts;
- evaluating the trust's capital gains tax position and developing a capital gains minimization strategy (which may include an estate-freeze type of reorganization);
- tax planning for immigration trusts that are nearing the end of their five-year tax-exemption period.
We can also prepare or review tax returns that involve complex trust situations.