STEP Canada 20th National Conference

Event Schedule

    • Sunday, May 27, 2018
      4:00 PM  -  8:30 PM
      Advance Registration Desk

      Conference registration will begin this evening. If you are staying at the Delta Toronto Hotel or are in the downtown core, please feel free to swing by and pick up your registration kit and conference materials to avoid busy lines tomorrow morning.

      Advance registration is located on the 2nd floor of the Delta Toronto Hotel in the Annex Room. Please pickup your materials anytime between 4:00 PM - 8:30 PM.

    • Monday, May 28, 2018
      7:15 AM  -  8:00 AM
      Registration, Continental Breakfast, and Exhibits

      Enjoy some breakfast, visit our exhibitor booths, and come by the registration desk to pick up your registration kit and conference materials. The registration desk is located outside room 717A, level 700 of the Metro Toronto Convention Centre.

      Courtesy of our silver sponsors:

      • BMO Trust Company
      • CIBC Private Wealth Management
      • Estate Research
      • Grant Thornton
      • Minden Gross LLP
      • Nexus Investment Management Inc.
      • Scotia Wealth Management
      • Invest Barbados
      • WeirFoulds

      8:00 AM  -  8:15 AM
      Welcome and Recognition of Sponsors

      Ruth March, CPA, CA, TEP, Halifax: KPMG LLP; Chair, STEP Canada

      Nathalie Marchand, LLB, TEP, Montreal: Miller Thomson LLP; Chair-Elect, STEP Montreal

      8:15 AM  -  9:00 AM
      01 | International News

      Moderator: Ruth March, CPA, CA, TEP, Halifax: KPMG LLP; Chair, STEP Canada

      The speaker addresses international news and its significance to STEP:

      • What is happening around the world that is affecting the families served by STEP members: more than just tax transparency and compliance nightmares?
      • Who is to blame?
      • What can STEP members do to help their clients, their communities, and other STEP members in this challenging time?
      • What role should STEP Canada play, and what responsibility should it bear in the years to come?

      Philip Marcovici, TEP, Hong Kong: Offices of Philip Marcovici

      9:00 AM  -  9:30 AM
      02 | Practitioners’ Update: US Tax Law

      Moderator: Ruth March, CPA, CA, TEP, Halifax: KPMG LLP; Chair, STEP Canada

      The speaker summarizes the new US tax reform legislation (enacted in December 2017), particularly the provisions that affect private client Canada-US cross-border taxation and planning. He also summarizes the extent to which his previous planning recommendations should be modified. Primary focus is placed on the changes to US gift and estate taxes, the taxation of controlled foreign corporations in which US citizens own shares of private Canadian companies directly or through trusts, and the changes affecting the taxation of Canadian companies and partnerships that own US real estate investments.

      Ed Northwood, JD, TEP, Buffalo: Ed Northwood and Associates

      9:30 AM  -  10:00 AM
      Health Break and Exhibits

      Courtesy of our bronze sponsors:

      • Concentra Trust
      • Emergent
      • Thorsteinssons LLP

      10:00 AM  -  11:00 AM
      03 | Practitioners’ Update: Canadian Tax Law Update

      Moderator: Chris Ireland, CPA, CA, TEP, Vancouver: PPI Advisory; Deputy Chair, STEP Canada

      Pamela Cross and Paule Gauthier will review recent legislative changes, case law, Canada Revenue Agency (CRA) interpretations and other recent developments that are relevant for estate and trust practitioners. The session includes a discussion of the 2018 Federal Budget announcements.

      Pamela Cross, LLB, TEP, Ottawa: Borden Ladner Gervais LLP; Deputy Chair, STEP Canada

      Paule Gauthier, CPA, CA, LLM (fisc), TEP, High Net Worth Planning Services, RBC Wealth Management Services

      11:00 AM  -  11:30 AM
      04 | Practitioners’ Update: Trust and Estate Law

      Moderator: Chris Ireland, CPA, CA, TEP, Vancouver: PPI Advisory; Deputy Chair, STEP Canada

      The speakers discuss the most interesting recent cases from both common- and civil-law jurisdictions.

      Richard Niedermayer, LLB, TEP, Halifax: Stewart McKelvey; Director at Large, STEP Canada

      Elisabeth Evans-Olders, LLB, TEP, Montreal: RBC Wealth Management, Estate & Trust Services

      11:45 AM  -  1:45 PM
      Luncheon Keynote Address by Dr. Kirby Rosplock — Beneficiary Financial Fitness

      Beneficiary Financial Fitness: Educating Inheritors to Develop their Financial “Core Strength”— Guidance for Parents, NxG and SFO Executives

      The keys to longer-term success for families of wealth may reside less in how well their portfolios and/or operating companies perform, and more in the investment they have made to prepare next generation family members and beneficial owners for the ongoing responsibilities of wealth and business ownership. Dr. Rosplock will discuss some key building blocks to develop the "Financial Core Strength" of beneficial owners. She will share some of her personal and professional experiences working with affluent families and family offices, and helping inheritors, executives and parents get a financial grip. From building and co-creating custom education plans to providing "edu-tainment" opportunities to disinterested and/or disengaged inheritors to learn and have fun through games and/or voluntourism, developing one's financial core does not mean "no pain no gain", but it does require consistent and repeated financial "workouts" to train, empower and strengthen inheritors' core knowledge, discipline, and experience in order to be fit beneficial owner.

      Kirby Rosplock, PhD, Palm Beach Gardens FL: Founder & CEO, Tamarind Partners Inc.

      Courtesy of our gold sponsors:

      • Aird & Berlis LLP
      • Investors Group
      • O'Sullivan Estate Lawyers
      • Richter LLP

      2:00 PM  -  3:15 PM
      05 | Where Is Your Wealth? Structures for Cross-Border Investing and Tax and Reporting Implications

      Moderator: Kevyn Nightingale, CPA, CA, CPA (IL), TEP, Toronto, ON: MNP LLP

      The panel discusses a variety of tax issues that arise for Canadian residents who have assets and interests outside the country and for US citizens, whether resident in Canada or not, who have assets and investments in Canada. Using a series of hypothetical facts, the panelists focus on the Canadian and US tax rules and touch on issues arising in relation to investments in other countries. Topics related to Canadian residents include the following:

      • the tax implications and reporting obligations of offshore investment structures (in the Cayman Islands, Ireland, and other jurisdictions);
      • the tax implications of investing in US structures (limited partnerships, limited liability companies, and C corporations);
      • the Foreign Account Tax Compliance Act and common reporting standard;
      • US real estate investments; and
      • US trusts that are deemed resident in Canada.

      Topics related to US citizens and residents include the following:

      • reporting obligations and the taxation of interests in Canadian trusts;
      • the tax implications and reporting obligations of offshore investment structures (in the Cayman Islands, Ireland, and other jurisdictions);
      • the reporting of gifts made and received; and
      • the tax implications and reporting obligations of Canadian corporate interests, including unlimited liability companies.

      Carol Fitzsimmons, JD, TEP, Buffalo: Hodgson Russ LLP

      Angela Ross, LLB, TEP, Toronto: PwC Canada

      2:00 PM  -  3:15 PM
      06 | Insurance in Action in the Current Tax-Planning and Estate-Planning Environment

      Moderator: Glenn Stephens, LLB, TEP, Toronto: PPI Advisory

      The 2017 and 2018 legislative amendments relating to the taxation of private company shares have significantly affected tax, estate, and post mortem planning for our clients. The panel considers how insurance can assist practitioners when dealing with this new reality. The panelists discuss transfers of life insurance in and out of corporations and provide an update on recent legislative changes affecting life insurance.

      Florence Marino, LLB, TEP, Kitchener: Manulife Financial

      Bryan McNulty, LLB, TEP, Toronto: Equitable Life of Canada

      2:00 PM  -  3:15 PM
      07 | Administering and Accounting for Private Companies in Trusts and Estates

      Moderator/Speaker: Eric Hoffstein, LLB, TEP, Toronto: Minden Gross LLP

      Increasingly, private companies form part of our clients’ estates. These companies provide unique challenges for professional advisers who help clients plan for the succession of their corporate interests. The panel addresses questions such as who should serve as both a corporate director/officer and a trustee, how is it possible to deal with conflicts between the corporate duties and the fiduciary obligations of trustees, what are the options for removing cash from a company and redeeming shares, and how can beneficiaries’ rights to information about the company best be managed. This panel is of particular interest to professionals who engage in planning with clients who own a family business.

      Rosanne Rocchi, LLB, TEP, Toronto: Miller Thomson LLP

      Fiona Hunter, LLB, TEP, Victoria: Horne Coupar LLP

      2:00 PM  -  3:15 PM
      08 | Veiled Threats: Attacks on Trusts and Lifting the Trust Veil

      Moderator: Nathalie Marchand, LLB, TEP, Montreal: Miller Thomson LLP

      Because trusts are a popular estate-planning, tax-planning, and asset-protection tool, they typically hold significant assets. It is becoming increasingly common for creditors and others to find ways to gain access to property held in trust. The panel reviews the common forms of attack on trusts, such as challenging their validity, setting them aside, alleging fraudulent conveyance, making family law claims, and lifting the trust veil. Three case studies are presented in which a trust is attacked by a creditor, a spouse, and a dependant. Panelists review recent case law throughout Canada and the world in both civil- and common-law jurisdictions and provide practical guidance for protecting a trust from a successful attack.

      Troy McEachren, LLB, TEP, Montreal: Miller Thomson LLP

      Clare Burns, LLM, TEP, Toronto: WeirFoulds LLP

      Tanya Butler, LLB, PhD, TEP, Halifax: Cox & Palmer

      3:15 PM  -  3:45 PM
      Health Break and Exhibits

      Courtesy of our bronze sponsors:

      • Assante Wealth Management
      • Norton Rose Fulbright
      • PwC Canada
      • Wilson Vukelich LLP
      3:45 PM  -  5:00 PM
      09 | Individual Pension Plans

      Moderator: Robin MacKnight, LLM, TEP, Markham: Wilson Vukelich LLP

      The panel reviews individual pension plans (IPPs) and the legislation that governs them, providing a numerical analysis of when IPPs may be advantageous for clients. Panelists also review a number of case studies, including situations involving owner-managers, incorporated professionals, and farmers.

      Lea Koiv, CPA, CA, CMA, CFP, TEP, Toronto: Lea Koiv & Associates Inc.

      Peter Merrick, FMA, CFP, TEP, FCSI, Toronto:

      Trevor Parry, LLM (Tax), CLU, TEP, Burlington: TRP Consulting Group

      3:45 PM  -  5:00 PM
      10 | Planning and Administering a Discretionary Trust: Absolute Freedom?

      Moderator: Paul Taylor, LLB, TEP, Ottawa: Borden Ladner Gervais LLP

      The panel discusses key issues in administering a discretionary trust from a legal and practical perspective. The panelists address drafting considerations, including limiting benefits to capital or income beneficiaries or favouring these beneficiaries, providing flexibility, and allowing for 21-year planning. The panelists also discuss jurisdictional issues, such as the application of civil law, drafting to deal with accumulations and perpetuities issues, and the rights of beneficiaries. An additional discussion involves the administration of discretionary trusts, including encroachment; tax planning (particularly, 21-year planning, attribution, and using the capital gains exemption); the fiduciary duties of trustees when exercising their discretion; and determining the intention of the testator or settlor.

      Debra Thomas, CIM, TEP, Vancouver: BMO Trust Company

      Susan Stamm, LLB, Toronto: Office of the Children’s Lawyer

      André Barette, LLB, TEP, Montreal: Borden Ladner Gervais LLP

      3:45 PM  -  5:00 PM
      11 | Unique Estate-Planning and Administration Issues

      Moderator: Richard Niedermayer,LLB, TEP, Halifax: Stewart McKelvey; Director at Large, STEP Canada

      The panel addresses a number of issues in estate and trust planning and administration that are becoming increasingly common in Canada. Topics include the following:

      • Trust protectors. What are they, where do they come from, and how are they used in Canada for domestic trusts, wills, powers of attorney, guardianships, and committeeships?
      • Dynastic/perpetual trusts. Can they be helpful, and what are the drafting and administration challenges?
      • Powers of appointment. What are they, when and how should they be used, and what are the planning and implementation pitfalls?
      • Pour-over wills. Do they work in Canada, why use them, and what is needed to implement them properly?
      • Digital assets. What planning and administration issues arise in this increasingly complicated and prevalent field?

      Kathleen Cunningham, LLB, TEP, Vancouver: Executive Director, British Columbia Law Institute – Canadian Centre for Elder Law

      Sarah Anderson Dykema, LLB, TEP, Halifax: McInnes Cooper; Chair, STEP Atlantic

      Kirsten Jenkins, LLB, TEP, Vancouver: Norton Rose Fulbright Canada LLP

      3:45 PM  -  5:00 PM
      12 | UFOs: Unfamiliar Foreign Objects from Civil-Law Jurisdictions Landing in Common Law Territory

      Moderator: Marilyn Piccini Roy, Ad.E., PhD, LLB, BCL, TEP, Montreal: Robinson Sheppard Shapiro, SENCRL/LLP

      This session addresses the problematic issues of recognition, enforceability and tax treatment that are encountered when institutions or devices, such as civil law trusts, usufructs, substitutions, matrimonial regimes, forced heirship and succession agreements are transported from a civil law jurisdiction into a common law environment. They may cause headaches even when imported from a jurisdiction like France to Quebec. The panelists will also address the recognition in civil law jurisdictions of common law institutions unknown in civil law jurisdictions.

      Margaret O’Sullivan, LLB, TEP, Toronto: O’Sullivan Estate Lawyers LLP

      Jeffrey Talpis, LLD, LLM, Montreal: Université de Montréal



      7:00 PM  -  11:00 PM
      Black Tie Gala Event
      If you wish to attend, please contact to be added to the waitlist.  
      Celebrate STEP Canada’s 20th anniversary at REBEL, Toronto’s premier waterfront entertainment complex. Enjoy the company of friends and colleagues in a state-of-the-art concert hall, inspired by opulence and avant-garde design. The evening features a networking reception with beverages and hor d'oeuvres, followed by a three-course meal with wine, entertainment, special remarks, and Canada's very own Jonny Harris as our emcee for the evening.
      For convenience, coach buses have been arranged to transport guests from the host hotel, the Delta, to the venue, and return guests to the Delta at the end of the evening. Please note that gala tickets are not included in the price of the conference registration and must be purchased at an additional cost. Tickets can be purchased online during conference registration or separately at a later date. Menus must be selected when tickets are purchased.
    • Tuesday, May 29, 2018
      7:15 AM  -  8:00 AM
      Registration, Continental Breakfast, and Exhibits

      Enjoy some breakfast, visit our exhibitor booths, and come by the registration desk to pick up your registration kit and conference materials. The registration desk is located outside room 717A, level 700 of the Metro Toronto Convention Centre.

      Courtesy of our silver sponsors:

      • BDO Canada LLP
      • Cadesky Tax
      • Hodgson Russ LLP
      • MD Financial Management
      • PPI Advisory
      • Stewart McKelvey
      • TD Wealth Private Trust
      • WEL Partners

      8:00 AM  -  8:15 AM
      Welcome from STEP Canada and STEP Worldwide

      Pamela Cross, LLB, TEP, Ottawa: Borden Ladner Gervais LLP; Deputy Chair, STEP Canada

      Patricia Wass, TEP, Plymouth, UK: Enable Law; Chair, STEP Worldwide

      8:15 AM  -  10:00 AM
      13 | STEP Canada/Canada Revenue Agency Round Table

      Moderator: Christine Van Cauwenberghe, LLB, CFP, RRC, TEP, Winnipeg: Investors Group; Treasurer, STEP Canada

      Senior representatives from the Canada Revenue Agency answer questions prepared by trust and estate practitioners about cases and issues of concern to both practitioners and their clients.

      Michael Cadesky, FCPA, FCA, FTIHK, CTA, TEP, Toronto: Cadesky Tax

      Kim G.C. Moody, FCPA, FCA, TEP, Calgary: Moodys Gartner Tax Law LLP

      Steve Fron, CPA, CA, TEP, Oshawa: Manager, Trusts Section, Income Tax Rulings Directorate, Canada Revenue Agency

      Phil Kohnen, CPA, CA, TEP, Oshawa: Manager, Trusts Section, Income Tax Rulings Directorate, Canada Revenue Agency

      10:00 AM  -  10:30 AM
      Health Break and Exhibits

      Courtesy of our bronze sponsors:

      • Hull & Hull LLP
      • Legacy Private Trust
      • Moodys Gartner Tax Law LLP
      • Wolters Kluwer Limited

      10:30 AM  -  12:00 PM
      14 | A Deeper Dive into the New World of Private Company Taxation

      Moderator: Chris Ireland, CPA, CA, TEP, Vancouver: PPI Advisory; Deputy Chair, STEP Canada

      Since July 18, 2017, the taxation of private companies and their shareholders has been subjected to significant proposals in many key areas, the retraction of certain of these proposals, and legislation dramatically revamping, in particular, the income attribution and income-splitting rules. The panelists expand on the comments made in the conference’s plenary tax update session on the proposals, and review the latest version of the rules in detail, providing a number of examples that illustrate the pervasive impact (intended and otherwise) of all of the changes.

      Maureen Berry, LLM, TEP, Toronto: Fasken LLP

      Kay Gray, CPA, CGA, TEP, Vancouver: Grant Thornton LLP

      David Stevens, LLB, TEP, Toronto: Gowling WLG

      10:30 AM  -  12:00 PM
      15 | Charitable Foundations Today: Their Creative Establishment and Use

      Moderator: Susan St. Amand, CLU, FEA, ICDD, TEP, Ottawa: Sirius Financial Services

      This panel examines how to technically and creatively establish and use charitable foundations under the Income Tax Act and corporate legislation, including as regards control by the founders, operating in Canada and internationally, establishing the foundation before death or post-mortem through the graduated rate estate, new estate donation credit rules, and emerging and less conventional foundation activities and investments such as real estate and social enterprise, and will include comparisons with donor-advised funds. Also discussed will be the family dynamics involved, in a multi-generational and multi-jurisdictional context, in establishing philanthropy as a worthwhile sustainable endeavour.

      Daniel Frajman, BCL, LLB, TEP, Montreal: Spiegel Sohmer Attorneys; Chair, STEP Montreal

      Florence Carey,LLB, TEP, Winnipeg: MLT Aikins LLP

      Karen Cooper, LLL, LLB, TEP, Ottawa: Drache Aptowitzer LLP

      10:30 AM  -  12:00 PM
      16 | Medical-Legal Issues Involving Capacity, Estate and Trust Planning, and Litigation

      Moderator:Kimberly Whaley, LLM, CS, TEP, Toronto: WEL Partners

      Dr. Adrian Owen, a British neuroscientist and author who currently holds the Canada excellence research chair in cognitive neuroscience and imaging at the Brain and Mind Institute, Western University, addresses the subject of executive functioning in the brain and tools indicative of capacity as they relate to executive functioning. Dr. Owen also conducts an audience interactive demonstration of a capacity assessment tool supported by clinical trials. Dr. Kenneth Shulman, a psychiatrist at Sunnybrook Health Sciences Centre and a professor of psychiatry at the University of Toronto, examines capacity issues that are relevant to decisional capacity, the assessment process from a clinical perspective, and the role of the medical professional as an expert witness in trials involving decisional capacity. Kim Whaley and Ed Esposto discuss the obligations of lawyers when capacity, vulnerability, and undue influence are at issue.

      Dr. Kenneth Shulman, Toronto: Affiliate Scientist, Evaluative Clinical Sciences, Hurvitz Brain Sciences Research Program, Sunnybrook Research Institute; Professor, Department of Psychiatry, University of Toronto

      Dr. Adrian M. Owen, London, Canada Excellence Research Chair in Cognitive Neuroscience and Imaging, Brain and Mind Institute, Natural Sciences Building, Western University

      Ed Esposto, LLB, TEP, Toronto: Aird & Berlis

      12:15 PM  -  2:15 PM
      Luncheon Keynote Address by Joseph A. Field — Global Wealth – Dark Clouds – Is there a Cure?

      Global Wealth – Dark Clouds on the Horizon – Is there a Cure in Sight?

      • Political Instability is a Global Phenomenon
      • Taxation and Level Playing Fields
      • Internationalization of Families – Greater Use of Structures
      • Privacy – Has the Baby Been Thrown Out with the Bath Water?
      • FATCA and CRS – Have we Reached the End of the Universe?
      • Where can you Go? What can you do?

      Joseph Field, New York, NY: Senior Counsel, Pillsbury Winthrop Shaw Pittman LLP

      Courtesy of our gold sponsors:

      • Fasken LLP
      • Gowling WLG (Canada) LLP
      • KPMG LLP
      • Miller Thomson LLP

      2:30 PM  -  4:00 PM
      17 | Cross-Border Planning After the 2017 US Tax Cuts and Jobs Act

      Moderator: Brian Cohen, LLB, TEP, Toronto: Gowling WLG (Canada) LLP

      The 2017 US Tax Cuts and Jobs Act ushers in the most sweeping US tax changes since 1986, necessitating a re-examination of many cross-border planning situations, such as US persons with interests in Canadian companies and trusts, Canadians with US business and investment activities, US real property ownership, and cross-border estate planning. The panel discusses the new normal in US tax planning and strategies for these and other common cross-border situations.

      Leslie Kellogg, JD, TEP, Buffalo/Toronto: Hodgson Russ LLP

      Christa Walkden, CPA, CA, TEP, Winnipeg: 49th Parallel Tax Services Inc.

      2:30 PM  -  4:00 PM
      18 | High Net Worth Clients Investing in Canadian Real Estate

      Moderator: Aileen La Borie, LLB, TEP, Vancouver: RBC Wealth Management Services; Director at Large, STEP Canada

      The panel examines the various structures used across Canada for Canadians and non-Canadian residents investing in commercial and residential Canadian real estate, including holding corporations, partnerships, bare trusts, and individual ownership. Panelists review the structures best suited for developers and those renting residential and commercial real estate (including the purchase of placeholder homes for children). The panel also evaluates the income tax implications (including the audit risk), the land transfer tax implications (including the new foreign buyers and empty home taxes), and the estate-planning implications of the various structures.

      Susannah Roth, LLB, TEP, Toronto: O’Sullivan Estate Lawyers

      Susan Farina, CPA, CA, TEP, Toronto: PwC Canada

      Joyce Lee,LLB, TEP, Vancouver: Deloitte Tax Law LLP

      2:30 PM  -  4:00 PM
      19 | Winding Up a Complex Estate

      Moderator: Jody Hatto, CPA, CA, TEP, Vancouver: Wild Hare CPA Inc.

      The panel discusses the process and timing of an estate wind-up as well as matters that can complicate it, such as the existence of non-resident beneficiaries and operating companies, and the need to hold security after clearance is received from the Canada Revenue Agency. The panel also comments on the importance of managing client expectations and addresses the challenges that arise as a result of the competing beneficial interests of beneficiaries and executors.

      Rachel Blumenfeld, LLB, TEP, Toronto: Aird & Berlis LLP; Secretary, STEP Canada

      Diane Tsonos, LLB, TEP, Montreal: Richter SENCRL/LLP

      Greg Woolston, TEP, Toronto: RBC Wealth Management - Estate and Trust Services
      2:30 PM  -  4:00 PM
      20 | Powers of Attorney for Property and Personal Care: The Good, the Bad, and the Ugly

      Moderator: Corina Weigl, LLB, TEP, Toronto: Fasken LLP

      The panel provides a comprehensive exploration of powers of attorney, including an update concerning the limitations imposed on powers of attorney for property and personal care. Panelists also examine predatory marriages: defining these unions, updating the status of the law as it relates to them, and discussing equitable remedies and public policy issues. In addition, the panel discusses whether and in what circumstances an attorney should stop or remedy a predatory marriage; separation, divorce, and capacity; scope of the powers bestowed on attorneys, particularly addressing religious restriction issues; preventive planning; and remedies in the event of abuse.

      John Poyser, LLB, TEP, Winnipeg: Tradition Law LLP

      Nancy Golding, QC, ACIArb, TEP, Calgary: Borden Ladner Gervais LLP; STEP Worldwide Board Member

      Albert Oosterhoff, JD, LLM, Burlington: Professor Emeritus, Faculty of Law, Western University; Counsel, WEL Partners LLP

      Charles Wagner, LLB, Toronto: Wagner Sidlofsky LLP