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ConductLaw on Stock Option Plans

ConductLaw on Stock Option Plans   Occasionally, we get asked questions by clients who are considering implementing a stock option plan.  These clients often want to provide incentives and promote loyalty to key employees or contractors.  After explaining how a stock option plan works, we can help a client determine whether or not it is appropriate under their specific circumstances.   In our discussions with…

Use of Trusts for US citizens in Canada

When we are meeting with our married clients, there are certain issues that we need to address when one is a US citizen and the other spouse is not and both are resident in Canada. Fortunately, with careful planning, there are steps that can be taken to manage the exposure to US estate tax.  We help we manage this exposure by ensuring that the…

Family Trust as a Shareholder

There are numerous benefits to employing a Family Trust as a shareholder of your corporation. A Family Trust may hold shares of a private corporation and in so doing freeze or crystallize income tax liability, provide creditor proofing, income split with family members, and multiply access to the $800,000 lifetime capital gains exemption. To realize…

Family Trust vs. Holding Corporations – ConductLaw

We often discuss the use of a Family Trust instead of a Holding Corporation for our clients at ConductLaw. We are often asked by clients when they create a new company whether they should hold the shares of the new corporation directly or whether they should do so indirectly by using a Holding Corporation or…

ConductLaw Lawyers Move Downtown Ottawa Location

ConductLaw Professional Corporation has moved its downtown location from 340 Albert Street to 251 Laurier Avenue West. We are pleased to be able to serve you from one of our three locations in Ottawa, Bell’s Corners and our head office in Barrhaven. Our lawyers are proud to serve our client’s variety of legal needs. In…

ConductLaw Expands Legal Practice at Barrhaven Location

Conductlaw continues to expand its areas of legal services offered in Barrhaven. We are happy to announce that we have expanded our practice areas at our office in Barrhaven. We continue our practice of serving the legal needs of our clients which include local and foreign business owners, entrepreneurs and individuals alike. From Corporate, Commercial,…

Trusts and Trustee Compensation Demystified

We often get asked how executors and trustees of ongoing trusts are compensated. While there is no set amount there are some guidelines to be found by statute and the common law in Ontario. To begin, Section 61(1) of the Trustee Act, R.S.O. 1990, c. T.23, states: “A trustee, guardian or personal representative is entitled…

JP McAvoy on CBC News

JP McAvoy, Managing Partner of Conduct Law, appeared on CBC News last night to provide commentary on a recent Statement of Claim issued against the City of Ottawa and Ottawa Fire Services. For more information or to view the story check out: http://www.cbc.ca/player/News/Canada/Ottawa/ID/2483570615/.

Corporate or Personally Owned Life Insurance

There may be substantial tax benefits to corporate owned life insurance that business owners need to consider. We always encourage our clients to speak with their Accountants and Financial Advisors in addition to their Insurance Provider when it comes to life insurance. In the 2012 federal budget there were proposed changes to the exempt test…

Corporate Reorganizations for the Business Owner

Corporate Reorganizations for the Business Owner

Many corporations explore using corporate reorganizations to achieve planning objectives for their shareholders. For example, creditor protection and income splitting to name two key objectives. However, what may appear to be a common transaction can lead to unforeseen income tax consequences when dealing with non-arm’s-length (NAL) parties. For the most part, shareholders are considered non-arm’s…

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