Tag: Estate Planning

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Beyond Trust: Protecting Your Business with a Shareholder Agreement (Ep. 35)

Beyond Trust: Protecting Your Business with a Shareholder Agreement (Ep. 35)

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Most business owners assume strong relationships are enough to hold a company together. This episode explains why that belief can create serious risk, and how the right agreements can prevent years of conflict.

In this episode, Frankie and Sarah are joined by returning guest Denise Branton, Lawyer and Owner, Byron Street Legal, to break down why shareholder agreements matter more than most business owners realize, especially in family businesses and closely held companies.

What to expect:

  • Why “we trust each other” is not a substitute for clear legal planning
  • Common misconceptions around shareholder agreements in family and friend-owned businesses
  • How shareholder agreements help manage conflict, decision-making, and exits
  • What happens when a shareholder dies, becomes disabled, or wants out
  • Why template agreements and one-size-fits-all solutions often fall short
  • The importance of valuation clarity, including when certified business valuations make sense
  • How shareholder agreements intersect with estate planning, and why ignoring this link creates problems
  • And more!

Connect with Frankie Loreto and Sarah Netley: 

Connect with Denise Branton:

About Our Guest:

For over 20 years, Denise has been advising business owners, helping them navigate complex legal matters, providing strategic counsel, and mitigating risks to achieve their goals. 

Denise earned her law degree from Toronto’s Osgoode Hall Law School in 2005 and was called to the Ontario bar in 2006. After practicing in Toronto for five years, she moved to Durham Region and eventually opened her own law practice.

Denise’s practice has been focused on working with business owners, regularly advising them on corporate and commercial matters, including real estate, secured financing transactions, corporate reorganizations, buying and selling businesses and shareholders agreements. 

With the intersection of business and wills & estates law, it was a natural progression for Denise to bring her expertise into the estate planning area.  Denise continues to develop her knowledge in estate planning, wills and trusts and is currently working towards her designation as a Trusts and Estates Practitioner (TEP) with STEP Canada. 

Denise’s approach to client service is grounded and practical, with a strong commitment to open communication.  Denise is known for her ability to break down complex legal matters into simple terms. 

To provide her clients with exceptional  legal service and advice, Denise collaborates with experts in various fields, including employment law, tax planning, and wealth transfer strategies.  

When establishing her own practice, Denise chose to base it in her local community, reflecting her passion for Durham Region. She actively participates in and influences the growth of both personal and business communities, through her work with Rotary and various speaking engagements within the legal and business sectors.

Outside of the office, Denise, along with her family, enjoys adventure travel that focuses on unique skiing and hiking opportunities, as well as attending her favorite music concerts.

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Protecting Your Estate From Litigation With Amelia Yiu (Ep. 12)

Protecting Your Estate From Litigation With Amelia Yiu (Ep. 12)

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While no one wants their will to be contested, estate litigation plays a crucial role in resolving disputes and ensuring the fair distribution of a deceased person’s assets.

Today on From The Source with Frankie and Sarah, they’re joined by Amelia Yiu, the founder of Elm Law in Whitby, Ontario. With 17 years of experience in estate litigation and family law, she dives into the complexities of estate litigation, discussing who can contest an estate, common reasons for disputes, and strategies for expressing clear testamentary wishes to prevent litigation. Amelia underscores the need for a professional advisory team and examines the validity of wills. She provides examples, addresses the importance of evidence and full disclosure in litigation, and advises how to proactively address potential claims.

Frankie, Sarah, and Amelia talk about: 

  • Who can make a claim against an estate
  • Different types of claims against an estate
  • Common reasons for estate litigation
  • The importance of having a team of professionals
  • Real-life examples of estate litigation cases

Resources:

Connect with Frankie Loreto and Sarah Netley: 

Connect with Amelia Yiu:

About Our Guest: 

Amelia Yiu, LL.B., TEP is the owner and Principal Lawyer at Elm Law Professional Corporation: Estate Litigation and Powers of Attorney.

Amelia’s practice is focused on Estate Litigation, Power of Attorney Disputes, and Family Law as it relates to Estates or Power of Attorney matters. Death or incapacity of a loved one is always a very difficult time for families, but family disputes bring emotional complications.

As an experienced lawyer, Amelia believes that legal counsel should be accessible and cost-effective for her clients. That’s why Amelia takes the time to understand her clients and the family dynamics at the heart of the issues. She pursues her clients’ best interests to the greatest extent possible.

Amelia has appeared before the Ontario Court of Appeal, Divisional Court, and the Superior Court of Justice. Amelia received her Bachelor of Laws from Queen’s University in 2006 and was called to the Ontario Bar in 2007.

Amelia is the former Chair of the Elder Law Section of the Ontario Bar Association.  She is listed as an expert in the area of Trusts & Estates Litigation on ReferToHer and is a member of STEP. She has also been a speaker and panelist at various continuing legal education seminars on elder and estate law.

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The Fundamentals of Wills and Estate Planning with Denise Branton (Ep. 11)

The Fundamentals of Wills and Estate Planning with Denise Branton (Ep. 11)

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The idea of death and creating a will isn’t fun for anyone. However, it is one of the most important documents you will ever create.

Joined by Denise Branton, lawyer and owner of Branton Law Professional Corporation, Frankie and Sarah delve into the critical topic of wills and estate planning. Denise underscores the necessity for every adult to have a will and the proper ways to go about creating one.

Frankie, Sarah, and Denise discuss:

  • The purpose of a will and how to choose your Executor
  • When to create a will and the importance of doing so
  • The process and criteria for creating a valid will
  • Considerations for business owners when drafting a will
  • The importance of considering digital assets in your will

Resources:

Connect with Frankie Loreto and Sarah Netley:

Connect with Denise Branton:

About Our Guest:

Denise Branton has been working in the legal services field for 20 years. She got her start as a full-time law clerk working for a firm in Toronto. She earned her law degree from Osgoode Hall Law School in 2005 and was called to the Ontario Bar in 2006. After 5 years of practicing in Toronto, she moved her law practice to Durham Region.

Denise prides herself on providing her clients with grounded and practical perspectives. Focusing on understanding her clients’ needs, so that she can deliver quality services and quality results.

The information provided in this podcast is for information purposes only. It does not reflect changes in law subsequent to the podcast. The distribution of this information is made on the understanding that it does not constitute legal advice. Listeners are advised to consult with a lawyer to discuss the specifics of their own particular situation and estate plan. The contents are intended for general information purposes only and under no circumstances can be relied upon for legal decision-making.

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Leaving a Legacy Through Charitable Giving with Frank Cerisano (Ep. 9)

Leaving a Legacy Through Charitable Giving with Frank Cerisano (Ep. 9)

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It’s the holiday season, a season of giving, so we’re jumping back into our conversation about estate planning with today’s focus on charitable giving through your Will.

In this episode, Frankie and Sarah speak with Frank Cerisano, CEO of the Bowmanville Hospital Foundation, about leaving a legacy through charitable giving. They discuss the importance of researching charities before leaving a bequest in your Will, the potential issues that can arise with overly restrictive donations, and the key role a lawyer plays in supporting an executor of an estate with charitable gifts. They also discuss the concerns around the proposed changes to the Alternate Minimum Tax rules and how these changes could impact charitable giving across Canada.

Frankie, Sarah, and Frank discuss: 

  • Why it’s important to do your research and find a charity that aligns with your values before leaving a bequest in your Will
  • The differences between donating a fixed sum and leaving the charity a residual interest in the estate
  • Initial steps the executor should take when administering an estate with a large bequest to a charity

Connect with Frankie Loreto and Sarah Netley: 

Connect with Frank Cerisano:

About Our Guest: 

Frank Cerisano is the CEO of the Bowmanville Hospital Foundation. Frank has been in the nonprofit sector for almost 30 years with a specialty in fundraising. He has helped numerous charities all over Ontario, across all of Canada, and down along the eastern seaboard of the United States.

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Estate Distribution and Probate Planning: What You Need to Know (Ep. 7)

Estate Distribution and Probate Planning: What You Need to Know (Ep. 7)

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How can you ensure your beneficiaries are getting what you expect them to?

Frankie and Sarah discuss various aspects of probate and estate planning in this episode of From the Source. Listen as they explain probate fees, exemptions, and assets that can pass outside of the estate while stressing the need to understand asset ownership and distribution to determine what is subject to probate. Frankie and Sarah also talk about probate planning, issues with multiple property owners, and the potential tax liabilities that can arise. 

Gain insight as Frankie and Sarah discuss: 

  • What probate is and how the probate fee is calculated in Ontario
  • How assets pass through an estate versus outside of an estate
  • The three main pitfalls of probate planning 
  • What executor compensation is and how it’s calculated
  • The impact of probate planning on asset distribution

Resources:

Connect with Frankie Loreto and Sarah Netley: 

 

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Why You Should Plan For Your Estate Taxes (Ep. 6)

Why You Should Plan For Your Estate Taxes (Ep. 6)

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Planning for the future goes beyond your lifetime. Estate planning isn’t just about passing on assets; it’s also about ensuring a smooth transition for your loved ones.

A little bit of tax planning with your estate plan can make things easier for your executors and loved ones when you pass away.

In this episode, Frankie and Sarah discuss estate planning and the tax implications that come with it. They emphasize the importance of preparing for these events and provide an overview of what happens from a tax perspective when someone passes away. They also explain various strategies to reduce tax liability, such as capital gains exemptions and tax-deferred rollovers, and highlight the need to have a will and address potential liquidity issues that may arise when paying the final tax bill.

Frankie and Sarah discuss: 

  • Why preparing for taxes is an important part of estate planning
  • The various types of assets that are subject to taxation
  • Ways to reduce tax liability after someone’s passing
  • What the benefits of deferring tax and income shifting are
  • The potential liquidity issues with illiquid assets and what options are available to cover the tax bill

Resources:

Connect with Frankie Loreto and Sarah Netley: 

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