Direct from Drache: Legal Insights - August 2005    Welcome to Direct from Drache    Drache Rotenberg Buchmayer becomes Drache LLP    Payments to Shareholders    Low Interest Family Loans    Understanding Probate    Hidden Closing Costs    "Common Law" v. "Marriage" In Estate Litigation    Are Tax Questionnaires Binding? Welcome to Direct from Drache Welcome to Drache. Our client newsletters will help you stay abreast of legal issues that have important implications in planning and preparing your personal, corporate and estate concerns. We know you’ll find this information valuable, so please feel free to share it with friends and family. As I mentioned, our articles library is fully searchable. I am attaching some articles that I think you will find of interest More... Drache Rotenberg Buchmayer becomes Drache LLP The Drache, Rotenberg & Buchmayer team has decided to simplify our brand, our name and our niche of services. As one of Eastern Ontario’s premier boutique law firms in the areas of tax and estate planning, we now offer a uniquely integrated approach to personal, corporate and estate planning strategies that harmonizes and minimizes tax implications for business owners, high income and high net worth clients. This one-stop approach organizes and simplifies the complex universe of tax and estate planning for clients who otherwise might not be reaping all the benefits of an integrated plan. More... Payments to Shareholders - Arthur Drache A recent ruling issued by the CRA does not break new ground but it is a good example of the differing treatment given to payments made to shareholders on the winding-up of a company. The fact situation would be typical, we think, of the winding up of a company which was utilized for estate planning in a family, where one or two of the members of the family were active in the company while the others (children or spouses) were inactive but were shareholders through some sort of family income splitting plan. More... Low Interest Family Loans - Charles Rotenberg There are unique tax planning opportunities facing us as a result of the current low interest rates. The Income Tax Act contains a number of anti-avoidance rules, generally referred to as the Income Attribution Rules, the thrust of which is to prevent (or attempt to prevent) higher rate taxpayers from shifting investment income to lower rate taxpayers, usually spouses or minor children. For the third quarter of 2005, the prescribed rate is unchanged at 3%. More... Understanding Probate - Douglas Buchmayer Most people are aware of the expensive reality of “probate fees”, a tax for verifying a Will through the courts. Probate fees are based on the value of ones estate. The rate in Ontario is .5% on the first $50,000.00 of the value of an estate and 1.5% thereafter. There are simple options available for reducing exposure to probate fees More... Hidden Closing Costs - Chad Boyd Buying a house is one of life’s most important events and as your lawyers, we strive to make this as pleasant and as happy an experience as possible. Hidden or more properly, unexpected closing costs are one item that often detracts from our clients’ happiness. More... "Common Law" v. "Marriage" In Estate Litigation - Elizabeth Lockhart Many common law couples assume that after living together for three years they somehow acquire the status of married spouses, which is simply not true. Often times this becomes all too apparent after one of them dies - it’s then too late to do anything about it. More... Are Tax Questionnaires Binding? - Victor Au Prior to the issuance of a tax reassessment, it is a common practice for the Canada Revenue Agency (“CRA”) to use pro-forma questionnaires to collect ‘facts’. These facts are often used to examine the taxpayer’s case. More... You are receiving this e-mail because you have subscribed to one of our Drache LLP newsletters. You have complete control to review, update your newsletter options or unsubscribe at your discretion. If this email was forwarded to you, we invite you to subscribe to this newsletter or others that appeal to you. Your subscription information is private, please feel free to review our privacy policy. © Drache LLP Barristers & Solicitors, 222 Somerset St. W., 2nd Floor, Ottawa, Ontario K2P 2G3 Phone: (613) 233-2675 Facsimile: (613) 233-6752 Email: crotenberg@drache.com