We will dive into a topic that touches many of us, whether in personal or professional contexts: estate planning and the implications of joint asset ownership. As we navigate the complexities of planning for the future, understanding the intersection of probate fees, tax obligations, and legal ownership structures becomes essential. Jointing ownership of assets with children in an effort to benefit from the right of survivorship to avoid probate fees is no longer all that simple.
Douglas Buchmayer from Gowling WLG (Canada) LLP will shed light on this multifaceted subject. Drawing from key insights and recent developments in Ontario law and federal tax regulations, Douglas will guide us through the potential pitfalls and best practices when it comes to joint asset ownership, from probate implications under the Estate Administration Tax Act to Income Tax Act reporting requirements. A discussion about a Deed of Gift and Declaration of Trust can further equip us with the knowledge to avoid common missteps and preserve wealth for future generations.
Presenter:
Douglas Buchmayer is a partner in Gowling WLG's Ottawa office. His practice focuses on estate planning, estate litigation, and estate administration.
Douglas specializes in wills, powers of attorney, tax planning, trusts, trustee obligations, testamentary trusts, family trusts, trust variations, cottage succession planning, business succession, ODSP planning, Henson Trusts, incapacity, guardianship, probate, intestacy and intestate succession, passing accounts, estate accounting, estate transmissions, court appointments, estate mediation, dependants relief, will challenges, and insurance trust planning.
Douglas is a former Bar Admission Course instructor at the Law Society of Ontario for the Estate Practice section, and he has lectured on estate administration and trust law at the University of Ottawa. He has also chaired and spoken at various continuing legal education seminars and has appeared on radio and television programs to discuss estate planning issues.
Douglas also has experience drafting and advising in relation to Indigenous Trusts pertaining to impact benefit agreements, land settlement claims, and collaboration agreements. He is the general counsel for the Nunavut Trust Fund. He is also a member of the Society of Trust and Estate Practitioners (S.T.E.P.).
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Registration $35 - Recording Available
No charge for Estate Planning Council of Canada Members
Guests are welcome - this event is for Professional Advisors only.
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