In a recent post we emphasized the importance and potentially significant benefits of properly preparing when a commercial dispute heads to mediation. Once the mediation starts there are several ways you can actively contribute to the session that will greatly increase the chance of reaching a settlement. Keys to a…

Since the introduction of the new federal not-for-profit legislation, we have assisted several not-for-profits who have struggled to track down the key documents needed for continuance under the new not-for-profit legislation.  Key documents such as the Letters Patent or Supplementary Letters Patent and a current copy of the by-laws must be…

Businesses who find themselves embroiled in a commercial dispute have the opportunity to resolve it through mediation.  Unfortunately, mediation can often fail to produce a settlement not because of a lack of will, but because of a lack of planning and understanding of the process.  The goal of mediation should…

For many business owners the decision to sell their business is not an easy one. But once the decision to sell has been made, many owners become frustrated with the length of time needed and the detail required to complete the transaction. Recently released analysis of 9,000 transactions by an…

In a recent blog post I outlined the benefits of dual wills for business owners as a means of providing a tax efficient manner of transferring the value of a business interest to his or her beneficiaries.  However, this is only of value if there is something to be transferred…

Mediation is a great opportunity to settle, make use of it. Consider mediating before litigation is commenced. Carefully pick your mediator. Arrange for production of documents priort to the mediation. Meet with counsel prior to mediation. Give thought to the interests of the other party and how you might meet…

The use of “dual wills” is an estate planning tool available to business owners in order to transfer the value of their shares to their beneficiaries in a tax efficient manner.  Having dual wills means that business owners have one will that deals with all assets of their estate except for their…

The question of what constitutes a general partnership versus a cost sharing arrangement has important tax consequences  for professional corporations and is an issue increasingly being reviewed by CRA.  The main tax advantage for professionals using a cost sharing arrangement is the ability for each professional to take advantage of…