STEP CANADA 10 th NATIONAL CONFERENCE Metro Toronto Convention Centre, 255 Front Street West (South Building), Toronto

Transcription

1 CANADA 10 th NATIONAL CONFERENCE Metro Toronto Convention Centre, 255 Front Street West (South Building), Toronto STEP Financial support from our sponsors is greatly appreciated. PLATINUM SPONSOR PRESENTING SPONSOR SOUVENIR SPONSOR GOLD SPONSORS SILVER SPONSORS BRONZE SPONSORS CANADA TAX ATTORNEYS LLP THE RUCHELMAN LAW FIRM Attorneys at Law Society of Trust and Estate Practitioners ()

2 STEP CANADA 10 th NATIONAL CONFERENCE Conference binder, bag and CD courtesy of Platinum Sponsor Royal Bank of Speaker gifts courtesy of Presenting Sponsor Cidel Trust Company 10 th Anniversary souvenir gift courtesy of Souvenir Sponsor Title Research Thursday June 5, :00 a.m. Registration and Continental Breakfast Continental breakfast sponsored by Silver Sponsors MILLER THOMSON LLP TD WATERHOUSE PRIVATE CLIENT SERVICES 8:30 8:45 Welcome and Special Recognition of Sponsors Opening Remarks STEP : The year in review and upcoming events GRACE CHOW, CA, TEP, Cadesky and Associates LLP (Toronto); Chair, STEP Greetings from STEP Worldwide MICHAEL YOUNG, FCA, TEP, Thring Townsend Lee & Pembertons; Deputy Chairman, STEP Worldwide 8: Practitioners Update Chair: GRACE CHOW, CA, TEP, Cadesky and Associates LLP (Toronto); Chair, STEP Update on issues affecting estate planning including: the new Tax-Free Savings Account; GAAR assessments the statistics; Registered Disability Saving Plans; pension income-splitting; donation tax shelters; valuation of life insurance policies donated to charity; probate fee issues; dependants relief claim in respect of co-owned life policy; handling powers of attorney. GLENN DAVIS, LL.B., MTI, TEP, RBC Dominion Securities/The Harbour Group, (Toronto); Chair, STEP Toronto RUTH MARCH, CA, TEP, KPMG LLP (Halifax); Chair, STEP Atlantic Provinces BETH WEBEL, CA, TEP, PricewaterhouseCoopers (Hamilton)

3 10:15 10:35 Refreshment Break Sponsored by Bronze Sponsors THORSTEINSSONS LLP CCH PRICEWATERHOUSECOOPERS LLP HODGSON RUSS LLP 10:35 12:15 TOPICAL ISSUES Chair: WILLIAM FOWLIS, LL.B., CA, TEP, Miller Thomson LLP (Calgary); Chair, STEP Calgary 10:35 11:15 Valuation Issues in Estate Planning and Family Law 11:15 11:45 FIE Overview Sometimes it s necessary to value an interest in a discretionary trust. How do you do this? When is it relevant? What are the guiding principles? RICHARD WISE, FCA, FCBV, TEP, Wise Blackman LLP (Montreal) MARGARET O SULLIVAN, LL.B., TEP, O Sullivan Estate Lawyers (Toronto); Member, STEP Council Now that the FIE rules are expected to be passed into law, this overview will help in understanding the theory and policy behind the rules, as well as some of the problems associated with them. NATHAN BOIDMAN, FCA, B.C.L., LL.B., Davies Ward Phillips & Vineberg LLP (Montreal) 11:45 12:15 Tracing the Heirs is a land of immigrants, but some family members stayed behind in the old country. How do you trace heirs after several generations have passed? NICHOLAS BEETHAM, Title Research, (London, U.K.) 12:15 1:45 Luncheon Special Luncheon Speech: The STEP Standard Provisions Across and around the world many statutes define the responsibilities of trustees and executors - their powers and obligations. In the U.K., STEP redefined this area of law by persuading the U.K. government to enact the STEP Standard Provisions. What are they? Was it worthwhile? Would they be useful in? GEOFFREY SHINDLER, LL.B., OBE, TEP, Lane-Smith & Shindler LLP (Manchester); President and past Chairman, STEP Worldwide Luncheon sponsored by Gold Sponsors RSM RICHTER LLP O SULLIVAN ESTATE LAWYERS PROFESSIONAL CORPORATION

4 2:00 3:20 PRACTICAL WORKSHOPS PART I Moving Life Insurance Chair: SUSAN ST. AMAND, CFP, CLU, CHFC, TEP, Sirius Financial Services (Ottawa); Chair, STEP Ottawa Does your client need to transfer the ownership of a life insurance policy? Is the transfer taxable? How do you determine the taxable amount? When can you transfer a policy on a rollover basis? What happens when there is a disposition or deemed disposition of shares of a corporation that owns a life insurance policy? This session will look at the sometimes surprising tax implications of many situations involving dispositions of life insurance. DEREKA THIBAULT, CA, CFP, TEP, Manulife Financial (Calgary) JOEL CUPERFAIN, LL.M., CLU, TEP, Manulife Financial (Toronto) Recent Issues in Interpreting and Administering Wills Chair: KATHLEEN CUNNINGHAM, LLB, MTI, TEP, (Vancouver); Chair, Education Committee, STEP A practical look at common and emerging problems facing executors and trustees in the interpretation and administration of wills. Issues will include: the aging executor, majority decision making, investigating joint accounts after Pecore, RESPs and estate residue, investigating prior decisions and actions of an attorney or guardian, the even hand principle and asset distributions, allocating assets liabilities and expenses, dealing with s. 116, seeking judicial direction and more. ARTHUR FISH, LL.B., TEP, Borden Ladner Gervais LLP, (Toronto) LINDSAY HISTROP, LL.M., TEP, Cassels Brock & Blackwell LLP, (Toronto) A Detailed Review of the FIE rules Chair: KIM G. C. MOODY, CA, TEP, Moodys LLP Tax Advisors (Calgary); Treasurer, STEP The FIE rules are dangerously close to being passed into law. Inevitably, we will have to live with some version of these rules. The time has finally come to develop an understanding of the details and implications. MICHAEL ATLAS, CA, CPA, TEP, Michael I. Atlas Chartered Accountants (Toronto) MARY ANNE BUESCHKENS, MBA, LL.B., TEP, Heenan Blaikie LLP (Toronto); Deputy Chair, STEP JOHN LORITO, LL.B., Stikeman Elliott LLP (Toronto) 3:20 3:40 Refreshment Break Sponsored by Bronze Sponsors THE RUCHELMAN LAW FIRM BARBADOS INVESTMENT AND DEVELOPMENT CORPORATION MERITAS CANADA TAX GROUP SCOTIA PRIVATE CLIENT GROUP

5 3:40 4:40 PRACTICAL WORKSHOPS PART II Charitable Giving Strategies Chair: DAVID CHRISTIANSON, B.A., CFP, TEP, Wellington West Total Wealth Management, (Winnipeg); Chair, STEP Winnipeg Charitable giving is becoming an increasingly important issue, particularly as the governing tax rules become more and more liberalized. Various strategies will be examined, including the new rules for donating exchangeable securities. LARRY FROSTIAK, FCA, CFP, TEP, Frostiak & Leslie Chartered Accountants (Winnipeg); Treasurer, STEP Worldwide HEATHER EVANS, LL.B., LL.M., TEP, Deloitte & Touche LLP (Toronto); Chair, STEP INSIDE Editorial Board Shareholder Agreements Chair: IAN WORLAND, LL.B., TEP, Legacy Tax + Trust Lawyers (Vancouver); Chair, STEP Vancouver Tax changes over the past decade have had a significant impact on the design and funding of buy-sell agreements triggered by the death of a shareholder. This session will examine recent innovations in buy-sell structures triggered by death in light of current tax legislation. There will be specific focus on the role of corporate-owned life insurance in funding these arrangements. GLENN STEPHENS, LL.B., PPI Financial Group (Toronto) KEVIN WARK, LL.B., CLU, TEP, PPI Financial Group (Calgary) Fifth U.S. Tax Treaty Protocol Chair: CAROLE SPOONER, CA, TEP, Meyers Norris Penny LLP (Edmonton); Chair, STEP Edmonton Far-reaching changes have been proposed for the U.S. Tax Treaty which will affect cross-border practitioners and their clients. A look at these significant changes. NADJA IBRAHIM, LL.B., LL.M., TEP, PricewaterhouseCoopers (Calgary) STANLEY C. RUCHELMAN, J.D., TEP, The Ruchelman Law Firm (New York) 6:00 p.m. 10th Anniversary Gala ROYAL YORK HOTEL 6:00 7:00 Champagne Reception 7.00 Dinner ut Black-tie suggested There is separate pricing for this event Dinner sponsored by ROYAL BANK OF CANADA Champagne Reception sponsored by CIDEL TRUST COMPANY Souvenir Gift sponsored by TITLE RESEARCH Friday June 6, :30 a.m. Continental Breakfast Continental breakfast sponsored by Silver Sponsors THOMSON CARSWELL CIBC PRIVATE WEALTH MANAGEMENT

6 9:00 10:10 Current Cases of Interest Chair: JOHN POYSER, LL.B, TEP, Inkster Christie Hughes (Winnipeg); Secretary, STEP An update on income tax and civil cases relevant to trust and estate practice. IAN HULL, LL.B., TEP, Hull & Hull LLP (Toronto) ELENA HOFFSTEIN, LL.B., TEP, Fasken Martineau Du Moulin LLP (Toronto) DONOVAN WATERS, Q.C., F.R.S.C., TEP, Horne Coupar (Victoria) 10:10 10:30 Refreshment Break Sponsored by Bronze Sponsors CASSELS BROCK & BLACKWELL LLP HULL & HULL LLP CADESKY & ASSOCIATES LLP SUN LIFE ESTATE & FINANCIAL PLANNING SERVICES 10:30 12:00 PRACTICAL WORKSHOPS PART III Emerging Tax Issues Chair: MARTIN LORD, LL.B., M.Fisc., TEP, Robinson Sheppard Shapiro LLP (Montreal); Chair, STEP Montreal Draft legislation on restrictive covenants - what does it mean? New rules for Section 116 clearances help or hindrance? Income attribution a new look at an old problem. MANON THIVIERGE, LL.B., TEP, Heenan Blackie LLP (Montreal) BARBARA NOVEK, LL.L., TEP, Sweibel Novek LLP (Montreal) DIANE TSONOS, LL.B., TEP, RSM Richter LLP (Montreal) A Trustee s Nightmare Chair: NANCY GOLDING, LL.B., TEP, Borden Ladner Gervais LLP (Calgary); Chair, Member Services Committee, STEP A case study examining what to do when family dynamics start going wrong. What are the concerns for professional trustees suddenly enveloped in a family dispute? How should they manage when issues such as conflict of interest, impropriety, neglect, and even breach of trust begin to get thrown around? ROSANNE ROCCHI, LL.M., TEP, Miller Thomson LLP (Toronto) TERESA LEE, LL.B., MTI, TEP, CIBC Trust Corporation (Toronto) ALAN WALKER, TEP, TD Waterhouse Private Client Services (Toronto) HOWARD S. BLACK, LL.B., LL.M., Minden Gross LLP, (Toronto) Leaving the U.S. Chair: MURRAY SHAPIRO, LL.B., TEP, Royal Bank of, Wealth Management Services (Toronto); Chair, Public Relations Committee, STEP It is becoming increasingly difficult to sever ties with the U.S. Giving up U.S. citizenship or U.S. residency is more and more problematic. A look at the rules currently in force and those that have been proposed. MICHAEL PFEIFER, J.D., LL.M., TEP, Caplin & Drysdale Chartered (Washington, D.C.); Vice Chair, STEP USA Mid-Atlantic PAUL SCZUDLO, J.D., TEP, Loeb & Loeb LLP (Los Angeles); Vice Chair, STEP Los Angeles

7 12:00 1:30 Luncheon Sponsored by Gold Sponsors BAYSHORE BANK & TRUST DELOITTE 1:30 2:40 CRA Roundtable Chair: ROBIN MACKNIGHT, LL.B, LL.M., TEP, Wilson Vukelich LLP (Toronto); Chair, Technical Committee, STEP A series of questions will be put to representatives of the CRA. PAMELA CROSS, LL.B., TEP, Borden Ladner Gervais LLP (Ottawa); Deputy Chair, STEP Ottawa PAUL LEBREUX, LL.B., LL.M., TEP, Bayshore Wealth Management Corporation (Toronto); Member, STEP Council THERESA MURPHY, TEP, Manager, Trusts Section, Income Tax Rulings Directorate, Revenue Agency (Ottawa) ANNEMARIE HUMENUK, Rulings Officer, Trusts Section, Income Tax Rulings Directorate, Revenue Agency (Ottawa) 2:40 3:20 The Great Debate Chair: MICHAEL CADESKY, FCA, TEP, Cadesky and Associates LLP (Toronto); Vice-President and past Chairman, STEP Worldwide At issue: Are trusts vital estate planning tools to manage the orderly succession of inter-generational wealth or implements used by overbearing parents to try to unfairly control their children from the grave? LARRY FROSTIAK, FCA, CFP, TEP, Frostiak & Leslie Chartered Accountants (Winnipeg); Treasurer, STEP Worldwide GEOFFREY SHINDLER, LL.B., OBE, TEP, Lane-Smith & Shindler LLP (Manchester); President and past Chairman, STEP Worldwide DONOVAN WATERS, Q.C., F.R.S.C., TEP, Horne Coupar (Victoria) KIM G.C. MOODY, CA, TEP, Moodys LLP Tax Advisors (Calgary); Deputy Chair and Treasurer, STEP NATIONAL CONFERENCE Metro Toronto Convention Centre, 255 Front Street West (South Building), Toronto

8 CANADA 10 th NATIONAL CONFERENCE Metro Toronto Convention Centre, 255 Front Street West (South Building), Toronto STEP 2225 Sheppard Avenue East, Suite 1001, Toronto, ON M2J 5C2 Tel: or Fax: Conference Hotels InterContinental Toronto Centre 225 Front Street West Toronto, Ontario M5V 2X3 Phone or ( and US) Website torontocentre.intercontinental.com Nightly Rate $ (plus applicable taxes) per single or double occupancy STEP Group Code ST8 Rooms being held until May 1, 2008 InterContinental Toronto Yorkville 220 Bloor Street West Toronto, Ontario M5S 1T8 Phone: or ( and US) Website toronto.intercontinental.com Nightly Rate $ (plus applicable taxes) per single or double occupancy STEP Group Code R73 Rooms being held until May 5, 2008 STEP National Conference Program Committee Grace Chow, Chair, STEP Kim Moody, Treasurer, STEP Paul LeBreux, Member, STEP Council, past Chair STEP Nancy Golding, Chair Member Services Committee Susan St. Amand, Chair, STEP Ottawa Michael Cadesky, Vice-President and past Chairman, STEP Worldwide Stewart Lewis, CEO, STEP STEP Staff Stewart Lewis, Chief Executive Officer Sheila Ylipelkola, Member Services Stéphane Cossettini, IT Services Maria Marticorena, Controller Marion Stendon, Director of Education The Fairmont Royal York Hotel Black-tie Gala 100 Front Street West Toronto, Ontario M5J 1E3 Phone Thursday June 5, 2008 Concert Hall - Salon B Special Thanks Sheila Ylipelkola: conference coordination Rachel Katz, DJS Productions: gala dinner coordination Bowie Lui: sponsor coordination Pat Garreton, Audio-Visual Ventures Inc.: audio-visual services Brown Book Company (BBC) Limited: printing