Presented by CPABC and STEP Vancouver

The Estate Planning Conference Day October 27, 2016

PROFESSIONAL DEVELOPMENT

                               

The Estate Planning Conference Day October 27, 2016 | Vancouver Convention Centre, West Building

T

he Estate Planning Conference Day is a joint conference between the Society of Trust and Estate Practitioners (STEP) Vancouver and CPABC.

It is designed to provide members with up-to-date, practical, and leading-edge estate-planning information. The objective of the conference is to focus on issues that are relevant and timely. Our morning plenary session will cover the recent developments in Family Law relevant to estate planners and professional accountants, while the afternoon plenary will highlight tax rules for trusts and estates. Don’t miss out on this conference, and on the chance to meet  and network with other members in the industry.

AGENDA 8:00 – 8:30AM

Registration and Continental Breakfast

8:30 – 8:45AM

Welcome and Introduction

8:45 – 9:45AM

Plenary Recent Developments in Family Law of interest to Estate Planners and Accountants

9:45 – 9:50AM

Transit to next session

9:50 – 10:45AM

Concurrent Breakouts - Estate Planning: Surprise! Your Client has U.S. Citizenship/Property/Children - New Section 55 and Estate Planning

10:45 – 11:05AM Coffee Break 11:05AM – 12:00PM Concurrent Breakouts - Planning for Families with Special Needs - Charitable Giving 12:00 – 1:15PM

Lunch

1:15 – 2:10PM

Concurrent Breakouts - Trust and Estate Law Update - Tax Issues in Common Estate Planning Techniques

2:10 – 2:15PM

Transit to next session

2:15 – 3:10PM

Concurrent Breakouts - Life Insurance Planning: An Update - Living with the Three Circle Model: Family, Ownership, and Enterprise

3:10 – 3:30PM 3:30 – 4:30PM

Coffee Break Plenary Tax Rules for Trusts and Estates in 2016 

This conference qualifies for 6.5 CPD hours/credits for members of: Financial Planning Standards Council The Institute for Advanced Financial Education Chartered Professional Accountant of BC  

 

The Law Society of BC  

CONFERENCE FEE: $475 + GST PD PASSPORT: Valid – 1 Passport Day To register, please go to our website at pd.bccpa.ca/conferences or email us at [email protected]. We can also be reached by phone at 604 681.3264, or toll-free in BC at 1 800 663.2677.

Speakers RILEY BURR, JD is a partner in Bull Housser’s tax group. Riley’s practice involves mainly income tax, GST, and provincial sales tax matters in the commercial, estate planning and trust contexts. Riley advises a wide variety of clients including businesses, individuals, and Charities and non-profit organizations on tax issues involved in many types of transactions, including corporate reorganizations and succession planning for high net worth individuals and owner-managed businesses, the establishment of domestic and offshore trusts and companies, charitable donation plans, and mergers and acquisitions. PAUL DAYKIN, QC is a partner with Aaron Gordon Daykin Nordlinger LLP. Paul has an undergraduate degree from UBC and a law degree from the University of Toronto. He was called to the Bar in 1985. Currently, Paul specializes in finding tax-effective solutions to the settlement of cases involving complex corporate structures and trusts, and assisting tax and estate planners in structuring family-owned businesses. KAY GRAY, FCPA, FCGA, TEP is a Partner at Grant Thornton Consulting, and has practiced domestic taxation for more than 20 years, with a focus on planning for high net worth families, trusts and family business succession and retirement planning. She also has significant experience in dealing with the tax issues of private company reorganizations that involve complex owner/manager transactions and estate freezes. MARY HAMILTON, LL.B., TEP associate counsel with DLA Piper (Canada) LLP, has almost 30 years of experience in matters relating to wills, trusts and estate administration. Her planning practice focuses on creating estate plans to address, among other issues, business succession, charitable giving, beneficiaries with a disability and other sometimes more challenging situations. She has held senior positions with various wills, estates and trusts groups in Vancouver, is a significant contributor to legal education in BC and was named Vancouver Trusts and Estates Lawyer of the Year 2011 by Best Lawyers. SAM LIANG, LL.B. is an associate at Legacy Tax + Trust Lawyers. His practice focuses on personal and corporate tax planning, corporate reorganizations, trust and estate planning. He has completed all three levels of the Chartered Professional Accountants of Canada’s In-Depth Tax Course. He is a member of the Canadian Tax Foundation and of the Canadian Bar Association, BC Branch’s Taxation subsection. SEAN MURRAY, MBA, CPA, CMA, CPA (DE), TEP is an experienced insurance and estate planning professional. Prior to entering the life insurance industry as a Tax & Estate Planning Consultant with a leading life insurer, Sean was a senior manager in the tax group of a national accounting firm. His experience includes personal and corporate tax, estate and succession planning, and corporate reorganizations. Sean holds a Master of Business Administration degree from the Richard Ivey School of Business at The University of Western Ontario. MICHELLE OSRY is a partner with Deloitte, one of Canada's leading professional services firms, where she leads Deloitte’s Family Enterprise Consulting practice in Canada, and the Deloitte Private team in BC. Michelle works with a diverse mix of private and family business clients. Her main focus is helping multigenerational families to become aligned around their vision for the future and advising on family governance, structure, and assisting with the creation and implementation of family constitutions. This involves working closely with the family, facilitating family meetings, and advising the family. ALISON OXTOBY, LL.B., TEP is a partner in the boutique Okanagan law firm of Entrust LLP. Her work focusses primarily on corporate/commercial and trusts & estates law. Alison began her legal career 20 years ago in Vancouver, where she was a partner with a leading national law firm. She has completed the In-depth Tax Course, and has lectured at the UVic and UBC law schools and for a number of other educational organizations, including Continuing Legal Education of BC, the Law Society of BC, Federated Press, STEP and the Canadian Bar Association. PAM PRIOR, CPA, CA, TEP is a Partner with KPMG Enterprise™. Pam has been practicing tax with KPMG since 1990. Pam’s areas of focus include assisting private company clients with their estate and will planning, establishment of family trusts and tax-efficient charitable gifting. She also assists not-for-profits and charities with their tax filings, charitable receipting issues and structuring planned gifts. She has spoken and written papers on various tax matters for the BC Tax Foundation, STEP, PBLI as well as CPA Canada and BC.

 

 

Speakers CHEYENNE REESE, J.D., LL.M., TEP is a principal of Legacy Tax + Trust Lawyers. Cheyenne received her J.D. from the University of Victoria in 2005 and was called to the B.C. Bar in 2007. She acquired her Masters of Law degree in International Taxation from New York University in 2006 and, as a result, a major part of her practice is related to cross border U.S.-Canada transactions, including estate, gift, and generation skipping tax issues and compliance issues. CARMEN S. THÉRIAULT, Q.C., TEP leads Bull, Housser & Tupper LLP's Wealth Preservation Group. She has extensive experience advising individuals, financial institutions and government in relation to estate planning, estate administration, charitable giving and related litigation. Carmen's expertise extends across domestic and international trust structures, trusts established for business purposes, First Nations trusts and other special purpose trusts. Her expertise has been recognized nationally and internationally as evidenced by the professional rankings awarded to her by Chambers Canada, Canadian Legal L'Expert Directory, Best Lawyers in Canada, LexisNexis-Martindale Hubbell and others. DEBRA THOMAS, CIM, TEP is a Senior Trust Advisor at DLA Piper, who has over 30 years of experience administering complex estates and trusts. Debra works with high net worth individuals to develop and implement solutions for wealth planning issues and provides advice on structuring estate plans, protecting assets and ensuring an efficient and effective administration and transfer of assets. Debra is a past Chair of the Vancouver branch of STEP Canada, past President of the Estate Planning Council of Vancouver and former Board Member of Coast Mental Health Society. DAVID THOMPSON, B.COMM., LL.B., TEP is a partner with Thorsteinssons LLP, Tax Lawyers. He has practiced exclusively in taxation matters since 1985, and is a registered trust and estate practitioner certified by the Society of Trust and Estate Practitioners. He was a governor of the Canadian Tax Foundation. Dave 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.

NICOLE WATSON, CPA, CA, TEP is a Senior Manager in Tax at KPMG LLP. Nicole has been with KPMG for over 13 years. She advises numerous individuals, small businesses, farming enterprise operations and notfor-profit enterprises regarding Canadian income tax and estate planning matters. Nicole serves clients in agriculture, construction, food & beverage, retail, aboriginal, sectors, as well as many individual members of family enterprises. LAURA WEST, JD is a partner of Bull, Housser & Tupper LLP (Vancouver) and a member of the firm’s Wealth Preservation Group. She is engaged in a general practice in the areas of wealth management, estates, trusts, charity and not-for-profit law. She advises clients with respect to wills, trusts, powers of attorney, health care representation agreements, charitable giving, family business succession planning, corporate re-organizations and estate administration, as well as the establishment, governance and regulation of charities and non-profit organizations. IAN WORLAND, LL.B., TEP is a principal at Legacy Tax + Trust Lawyers. He advises clients in all aspects of personal and corporate tax planning, corporate reorganizations, estate planning, charitable gift planning and international tax and trust planning. He is immediate Past Chair of STEP Canada and Chair of the Board of Governors at Quest University Canada in Squamish, British Columbia.

Conference Chair AILEEN LABORIE, LL.B., TEP is Vice President, High Net Worth Planning Services at RBC Wealth Management Services. Aileen obtained a Bachelor of Arts degree from the University of British Columbia in 2000 and graduated from Dalhousie Law School in 2003. She was called to the Bar in British Columbia and Ontario in 2004. She has completed all three levels of the CPA in-depth tax course. In 2009, Aileen joined RBC, assisting clients with their overall tax and estate planning, and in 2014, assumed her present position, specializing in assisting high-net-worth clients with their succession, tax, retirement and estate planning. Aileen is the Chair of the Vancouver Branch Executive of The Society of Trust and Estate Practitioners (STEP).

      The Estate Planning Conference Day   8:30 – 8:45AM

SESSION DESCRIPTIONS

 

WELCOME & INTRODUCTION

Aileen LaBorie, Conference Chair  8:45 – 9:45AM

PLENARY SESSION

RECENT DEVELOPMENTS IN FAMILY LAW OF INTEREST TO ESTATE PLANNERS AND ACCOUNTANTS David Thompson & Paul Daykin This plenary session will cover recent decisions concerning the Family Law Act; treatment of interests in discretionary family trusts; excluded property and family property—when is the “exclusion” lost; and issues arising from the use of different estate planning instruments. 9:50AM – 10:45AM

CONCURRENT BREAKOUT

  ESTATE PLANNING: SURPRISE! YOUR CLIENT HAS U.S. CITIZENSHIP/PROPERTY/CHILDREN Cheyenne Reese Estate planning for Canadians can be straightforward until the added complications of U.S. citizenship, assets, or children are presented. This presentation will outline some of the considerations that then become relevant, including the application of the U.S. estate tax to both U.S. citizen and non-U.S. citizen Canadians, as well as the importance of cost base planning for U.S. children of Canadian clients. 10:45 – 11:05AM

COFFEE BREAK

11:05AM – 12:00PM

CONCURRENT BREAKOUT

  PLANNING FOR FAMILIES WITH SPECIAL NEEDS Mary Hamilton & Debra Thomas This session will cover government benefits and tax considerations; estate planning tools such as trusts during lifetime or in a will, discretionary trusts, non-discretionary trusts, financial/health care decision making representation agreements, powers of attorney; trust administration tips and traps; RDSPs; and stories. 12:00 – 1:15PM

LUNCH

1:15– 2:10PM

CONCURRENT BREAKOUT

  TRUST AND ESTATE LAW UPDATE Carmen Thériault & Laura West Estate freezes - a new look at an old friend – family law, valuation and integrity of the plan issues, including exploring the line where testamentary freedom and public policy collides; choosing to die - recent developments in Canadian law; Clayton v Clayton [2015] NZCA 30 - study of a recent trust attack; mutual wills – beware of the “invisible” promise; and life under BC’s new probate rules. 2:15– 3:10PM

NEW SECTION 55 AND ESTATE PLANNING Riley Burr The changes to section 55, which apply to dividends received after April 20, 2015, have some surprising consequences that can significantly affect some commonly used corporate strategies in estate planning. The presenter will discuss some of these strategies and certain key impacts of the changes to section 55 on such strategies.

CHARITABLE GIVING Nicole Watson & Alison Oxtoby This session will cover donations from individuals, estates, trusts and corporations. Participants will hear about the treatment of donations of cash, publicly-traded securities and other non-cash alternatives. In addition, the discussion will cover timing issues related to when donations are made and receipts are issued.

TAX ISSUES IN COMMON ESTATE-PLANNING TECHNIQUES Ian Worland & Sam Liang This session will discuss a miscellany of income and transfer tax issues arising in common estate planning arrangements and techniques, including alter ego and joint partner trusts, estate freezes, joint tenancy, trusts holding a principal residence, post-mortem planning and reorganizations.

CONCURRENT BREAKOUT

 LIFE INSURANCE PLANNING: AN UPDATE

Sean Murray This session will review the legislative changes to the taxation of life insurance and will explore how these changes will impact some commonly used planning strategies employed by individuals and business owners.

3:10– 3:30PM

COFFEE BREAK

3:30 – 4:30PM

PLENARY SESSION

LIVING WITH THE THREE CIRCLE MODEL: FAMILY, OWNERSHIP, AND ENTERPRISE Michelle Osry How understanding the family drivers within a family enterprise can create opportunities for developing and deepening advisor relationships. This session will explore the unique challenges and opportunities facing family businesses and how an understanding of family dynamics can equip families and their advisors to better navigate the complexities and challenges commonly faced by family enterprises.

TAX RULES FOR TRUSTS AND ESTATES IN 2016 Kay Gray & Pam Prior This session will summarize and review the significant Canadian income tax changes affecting trusts and estates to date. The presenters will examine the impact of the new regime on existing trusts and testamentary planning structures, and point out potential pitfalls with the use of life-interest trusts and/or multiple wills, testamentary charitable gift planning, and other post-mortem planning.

To register, please go to the CPABC PD website at pd.bccpa.ca/conferences or email us at [email protected]. We can also be reached by phone at 604 681.3264, toll-free in BC at 1 800 663.2677.