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Bill C-208, which was introduced by Larry Maguire, MP from Brandon-Souris, makes amendments to the Income Tax Act by aiming to lessen the tax burden on intergenerational transfers of small businesses, family farms or fishing corporations. This bill addresses a gap in the Income Tax Act that made it more... Read More

As an attorney appointed under a Power of Attorney (POA) document, you have been appointed to manage an individual’s legal and financial affairs. This is an extremely important responsibility, which requires the utmost care. The attorney has a fiduciary duty to the donor (the individual who named you) and an... Read More

Canada has extensive regulations regarding the use and ownership of firearms. In situations where an owner of firearms passes away this can create tricky issues for the estate to navigate. Role of the Estate’s Personal Representative When an executor or administrator deals with an estate that has a firearm, they... Read More

After a person has passed away, who has the right and responsibility to arrange for the funeral and the disposition of the deceased person’s body?  This question may arise when a person considers making advance funeral instructions.  This question may also come up where the family or friends of a... Read More

Most people know that making a Will is important, but oddly enough, only about half of all Canadians (55%) have a Will and even less (40%) have a Power of Attorney.[1] While Estate Planning rarely makes it to the top of one’s priority list, having a proper estate plan in... Read More

Fees The fees to your lawyer charges for all typical work with respect to your purchase include such things as: title searches at the land titles office; investigating taxes related to the property; exchanging information with the seller’s lawyer; preparing all documentation necessary to complete the purchase; answering your questions... Read More

The First Time Home Buyers’ Tax Credit (HBTC) was implemented in the 2009 Federal budget. As of 2022, HBTC allows for first time home buyers to save up to $1,500 in federal tax relief. That amount comes from a non-refundable tax credit based on an amount of $10,000. The credit... Read More

In addition to the First Time Home Buyers’ Tax Credit, first time home buyers are also eligible for the Home Buyers’ Plan (“HBP”). This is a program that allows you to withdraw up to $60,000 from your registered retirement savings plan (RRSP) to buy or build a qualifying home for... Read More

Cottages are similar to family farms. Their succession plans should be similar too. Cottage succession planners should take a lesson from farm experts. Cottages, like farms, make succession planning challenging. Succession planning for the family cottage has many similarities to transferring the family farm. The primary goals of most cottage... Read More

Fees Lawyers fees with respect to the sale of a typical home are usually less than half a percent of the sale price, and sometimes less than a quarter of a percent of the sale price. At Smith Neufeld Jodoin LLP, our lawyers typically adhere to general policies regarding fees... Read More