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Planning for Clients with
Assets and Beneficiaries in
Multiple Jurisdictions
Chaired by
Carmen S. Thériault, Q.C.
Bull, Housser & Tupper LLP
November 6th, 2014 • UBC Robson Square • Vancouver, BC
P A C I F I C
B U S I N E S S
&
L A W
I N S T I T U T E
www.pb
Planning for Clients with
Assets and Beneficiaries in
Multiple Jurisdictions
The structure of Canadian families and businesses is becoming
more complex and diverse than ever before, and increasingly clients
present with assets and beneficiaries located worldwide. Inefficient
planning can be disastrous for your clients, and practitioners must
ensure they stay on top of the best practices and changes in this
field. Give your clients peace of mind and security by learning
to navigate planning methods and issues that arise when dealing
with multiple jurisdictions.
This program will keep you current on some of the most pressing
developments and challenges faced by planners today, bringing
together leading experts on estate planning, wealth management
and taxation issues to provide you with practical, current advice
for addressing the many challenges that arise when clients’ assets
and beneficiaries are dispersed across multiple jurisdictions. Our
expert faculty will provide you with practical planning tools and
strategies that you can immediately apply to your practice. You
will gain a solid understanding of essential issues and discuss the
potential concerns that may arise from time to time.
You Will Learn About:
• The governing law of trusts
• Select Canadian and international tax considerations
• Wealth management and transition strategies for entrepreneurs
with assets and beneficiaries in multiple jurisdictions
• Practical tips for dealing with beneficiaries, assets and
advisors in other jurisdictions
• Multiple will strategies and practice tips
• Tips and traps for dealing with certain US tax issues
• Rectification of wills and trust instruments when planning goes awry
Who Should Attend:
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Wills, trusts, and estate lawyers
Tax lawyers and professionals
Accountants
Insurance professionals
Trust officers
Financial planners and wealth management professionals
Notaries
Chair
Carmen S. Thériault, Q.C., Partner, Bull, Housser & Tupper
LLP, Vancouver, BC. Carmen Thériault leads the firm’s Wealth
Preservation Group. She has extensive experience advising
individuals, government and financial institutions in relation
to: estate planning, including the creation, administration and
regulation of domestic and offshore trust structures; trusts established
for commercial purposes; First Nations trusts; estate administration matters;
litigation involving the validity and interpretation of wills and trust documents,
breach of trust allegations, the removal and replacement of trustees, wills variation
claims and related issues; mental incompetency matters; and the establishment,
operation and regulation of charities and other tax exempt organizations. Carmen
is a regular speaker and writer for a variety of legal and non-legal audiences,
and has been recognized as an expert in her practice areas by Best Lawyers in
Canada, LexisNexis – Martindale-Hubbell, Expert Guides – Guide to the World’s
Leading Trusts & Estates Practitioners and Canadian Legal Lexpert Directory.
Faculty
Litza N. Anderson, BA, LLB, TEP, Senior Will and Estate Planner,
Scotiatrust, Vancouver, BC. Litza provides estate planning
information to Scotiatrust clients and works with their legal advisors
on implementing their estate plans. Litza clerked for the Tax Court
of Canada in Ottawa and practised for several years at a large law
firm in Toronto specializing in estate planning. Prior to returning
to Vancouver, she worked in the Cayman Islands at one of the world’s largest
offshore law firms specializing in succession planning for international high net
worth clients. Litza was called to the Ontario Bar in 2002 and the BC Bar in
2009. Litza is an active member of the Vancouver Branch Executive of STEP and
frequently speaks to professional and industry groups on estate planning issues.
Sally Dennis, Partner, Farris LLP, Vancouver, BC. As head of Farris’ private
wealth group, Ms. Dennis provides advice on all aspects of inter-generational
wealth transfer and estate and business succession planning. She also provides
trustee advisory and estate administration services. She has law degrees from
Oxford, UBC and UVic and has practised in Vancouver since the mid-80s,
initially as a business/securities/M&A lawyer at a major national firm, but
as a trusts and estate planning lawyer for the last decade. Ms. Dennis is a member of
the Society of Trust and Estate Practitioners, the Family Firm Institute, and the Estate
Planning Council (Vancouver), and holds a certificate in family enterprise advising from
the UBC Sauder School of Business.
Sharon E. Duguid, Director, Center for Entrepreneurs and Family Enterprise,
PricewaterhouseCoopers LLP, Vancouver, BC. Sharon Duguid is the Director
for PwC’s Center for Entrepreneurs and Family Enterprise. The role of the
Center is to support private companies and family enterprise in ensuring
their governance, succession and operating strategies are effective and
sustainable. Prior to joining PwC, Sharon was a Director of Executive
Development Solutions International, LLC., a consulting collective with affiliates in
Europe and the U.S. She specializes in succession and transition issues. Sharon has a
Masters of Organizational Development, and has completed the UBC Sauder School of
Business Certificate in Family Business Advising.
Elizabeth Edinger, Associate Professor, UBC Faculty of Law, Vancouver, BC.
Elizabeth Edinger joined the Faculty of Law in 1978 as Assistant Professor
and was promoted to Associate Professor in 1987. Professor Edinger served
as Associate Dean from 1988-1992 and from 1997-2003. Her teaching areas
include Conflict of Laws, Constitutional Law and Creditors Remedies. She
has published in each of these areas.
Michelle L. Isaak, Associate, Davis LLP, Vancouver, BC. Ms. Isaak practises
wills, estates and trusts. Before focusing on a solicitor’s practice in estate
planning and administration, she was a member of Davis’s litigation
department, where she practised family, estate and general commercial
litigation. She advises clients on all aspects of estate and capacity planning,
with a focus on working with executors, trustees and beneficiaries on
estate and trust administration, including probate, dispute resolution, and passing of
accounts. Ms. Isaak has a particular interest in complex trust and estate issues such as
multi-jurisdictional estates, Aboriginal estates and trusts, insolvent estates, and estates
involving acrimonious family relationships.
Benita Loughlin, CA, Partner, KPMG LLP, Vancouver, BC. Ms. Loughlin is
the leader of the International Executive Services tax group in the Vancouver
office. She practises in the area of tax planning and compliance for individuals,
estates and trusts in a U.S. and cross-border context. She advises individuals
on tax matters related to their compensation, investments, retirement plans,
estates, trusts, gifts and expatriation. Ms. Loughlin is a frequent speaker on
cross-border tax planning topics and has authored and co-authored numerous articles
for various publications.
Nick Smith, Principal, Legacy Tax + Trust Lawyers, Vancouver, BC. Nick
Smith is a principal with Legacy Tax + Trust Lawyers in Vancouver. For 25
years, Nick’s practice has focused on federal, provincial and international
tax and estate planning, with an emphasis on owner manager corporate
reorganizations, tax structuring of purchases and sales of businesses, business
succession and working with trusts, estates and tax-planned wills. He also
has particular expertise dealing with the 21 year deemed disposition rule applicable to
most trusts. He was called to the British Columbia Bar in 1989 and is a frequent author
and lecturer for a variety of professional organizations. Nick has been qualified by the
British Columbia Supreme Court as an expert in Canadian taxation and has been selected
by peers for inclusion in Best Lawyers in Canada (Tax Law) and Lexpert.
Curtis R. Stewart, Partner, Deloitte Tax Law LLP, Calgary, AB. Curtis’
practice focuses exclusively on tax litigation and tax dispute resolution. He
is recognized as a leading tax litigation practitioner by Chambers Global:
The World’s Leading Lawyers for Business, by the Lexpert Lawyer Guide to
Leading Lawyers in Canada and the International Tax Review Tax Controversy
Leaders. Curtis has extensive experience dealing with provincial and federal
tax authorities and conducting tax litigation in the Tax Court of Canada and Federal
Court of Canada. He has defended criminal tax prosecutions in provincial court and at
the Court of Queen’s Bench and has also appeared before the Supreme Court of Canada.
Curtis is also recognized nationally as a leader in rectifying and correcting transactions
with unintended tax consequences. Curtis has been a sessional lecturer in tax law and
has published numerous articles in the area of taxation and tax litigation.
David Thompson, Thorsteinssons LLP, Vancouver, BC. David was called to
the bar in 1984 and has practised exclusively in taxation matters since 1985.
David was a governor of the Canadian Tax Foundation. David is noted as
a leading Canadian tax lawyer based on peer-review ratings in Lexpert and
in Martindale Hubell. He is noted as a leading Canadian tax lawyer and a
leading Canadian trust and estate lawyer based on peer-review ratings in
The Best Lawyers in Canada. David has lectured extensively on taxation for various legal
and financial audiences, including at the national and provincial tax conferences of the
Canadian Tax Foundation and the national tax conference of the Canadian Institute of
Chartered Accountants.
Laura West, Partner, Bull, Housser & Tupper LLP, Vancouver BC. Laura is
engaged in a general practice in the areas of wealth management, estates,
trusts, and charity and not-for-profit law. She has been recognized by Best
Lawyers in Canada (2012-2014) and was the co-recipient of a 2010 Lexpert
Gold Zenith award recognizing pro bono work in the legal profession. Laura
has taught Wills and Estates Planning at the University of Toronto Faculty
of Law as an adjunct professor and she has lectured and written frequently on estate
planning, charity and non-profit legal issues.
REGISTER
bli.com
Planning for Clients with Assets and
Beneficiaries in Multiple Jurisdictions
Thursday, November 6th, 2014
9:00 Welcome and Introduction
Carmen S. Thériault, Q.C.
Bull, Housser & Tupper LLP
9:05 The Governing Law of Trusts
Professor Elizabeth Edinger
UBC Faculty of Law
•Determining the proper law of a trust
•Implications that flow from the governing law of a trust
•Law of choice
•Changing the governing law
•Effect of the Hague Convention
9:45 Questions and Discussion
9:50 Select Canadian Tax Considerations
Nick Smith
Legacy Tax + Trust Lawyers
•Residency and deeming provisions
•Source rules for taxation of income
•Tax implications of repatriating to Canada
•Issues surrounding the use of interprovincial trusts
10:30Questions and Discussion
10:40Refreshment Adjournment
10:50Select International Tax Considerations
David Thompson
Thorsteinssons LLP
•A brief history of the offshore trust rules
•The current offshore trust rules
•Basic compliance issues relating to offshore trusts
•Repatriating offshore trusts
•Tax impact of severing Canadian residency
•Taxation of non-resident beneficiaries of Canadian trusts
11:30Questions and Discussion
11:40Wealth Management and Transition
Strategies for Entrepreneurs with Assets
and Beneficiaries in Multiple Jurisdictions
Carmen S. Thériault, Q.C.
Bull, Housser & Tupper LLP
Sharon E. Duguid
PricewaterhouseCoopers LLP
•Role of family councils
•Designing meaningful family charters
•Internal communication tools and strategies
•Effective education plans for beneficiaries
•Building advisory boards that add value
R TODAY!
12:20Questions and Discussion
12:30 Networking Luncheon
1:30 Faculty Roundtable: Practical Tips for
Dealing with Beneficiaries, Assets and
Advisors in Other Jurisdictions
Litza N. Anderson
Scotiatrust
Michelle L. Isaak
Davis LLP
Sally Dennis
Farris LLP
2:15 Multiple Will Strategies and Practice Tips
Laura West
Bull, Housser & Tupper LLP
•Why use separate wills for assets in different
jurisdictions?
•Drafting tips unique to multiple wills
•Traps to be avoided when using multiple wills
•Practice points when administering multiple wills
2:55 Questions and Discussion
3:05 Refreshment Adjournment
3:15 US Tax Issues – Tips and Traps
Benita Loughlin
KPMG LLP
•Best and worst methods for acquiring and holding
US property
•US gift tax issues
•US estate tax issues
•FATCA considerations
3:55 Questions and Discussion
4:05 Rectification of Wills and Trust Instruments
Curtis R. Stewart
Delotitte Tax Law LLP
•Domestic and international case law update
•The scope for rectifying wills and trust instruments
when plans go awry
•Alternatives to rectification: rescission, mistake
4:45 Questions and Discussion
4:55 Closing Remarks from the Chair
5:00 Program Concludes
Information
Four Ways to Register:
Materials: The faculty will prepare papers and/or other materials explaining many
of the points raised during this program. Materials will be available for pick-up at
the program. Please contact us at registrations@pbli.com if you are unable to attend
the program and wish to purchase a set of materials.
1. Telephone us: 604-730-2500 or toll free: 1-877-730-2555
2. Fax us: 604-730-5085 or toll free: 1-866-730-5085
3. Mail your registration form with payment
4. Register at www.pbli.com/1104
Your Privacy: We will keep all information that you provide to us in strict
confidence, other than to prepare a delegate list containing your name, title, firm
and city for our faculty and the program delegates. We do not share our mailing
lists with any non-affiliated organization.
Registration: The registration fee is $770.00 plus GST of $38.50 totalling
$808.50 covering your attendance at the program (in person or by live webinar),
written materials, a light breakfast, a networking luncheon and refreshments
throughout the day.
Cancellations: Full refunds will be given for cancellations (less a $60 administration
fee) if notice is received in writing five full business days prior to the program (October
30th, 2014). After that time we are unable to refund registration fees. Substitutions
will be permitted. We reserve the right to cancel, change or revise the date, faculty,
content, venue or availability of webinar for this event.
Group Discounts: Register four persons from the same organization at the same
time and you are entitled to a complimentary fifth registration.
Payment: You may pay by VISA, MasterCard or cheque. Cheques should be
made payable to Pacific Business & Law Institute. Registration fees must be
paid prior to the program.
Course Accreditation: Attendance at this course can be listed for up to
6.7 hours of continuing professional development with the Law Societies of
BC and Upper Canada. For Alberta lawyers, consider including this course
as a CPD learning activity in your mandatory annual Continuing Professional
Development Plan as required by the Law Society of Alberta.
When and Where: Check-in begins at 8:30 a.m. The program starts at
9:00 a.m. UBC Robson Square is located at the basement level of 800 Robson
Street in Vancouver, BC. Please visit http://www.robsonsquare.ubc.ca/find-us/
for directions.
Planning for Clients with
Assets and Beneficiaries in
Multiple Jurisdictions
Registration Form
Pacific Business & Law Institute
305 – 1681 Chestnut Street
Vancouver, BC Canada V6J 4M6
Telephone: 604-730-2500; Fax: 604-730-5085
E-mail: registrations@pbli.com
November 6th, 2014
UBC Robson Square, Vancouver, BC
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