: Richard Niedermayer, TEP, quoted in Investment Executive

October 28, 2014

Halifax-based partner Richard Niedermayer, TEP, is quoted in a mid-October, Investment Executive article entitled, "Rethinking testamentary trusts", providing insight into testamentary trust taxation changes coming into effect in 2016.

Currently, assets held in testamentary trusts are subject to a graduated tax rate for as long as the trust exists. After 2016, assets held in an estate will be subject to a graduated tax rate for only three years after the death of the settlor, at which point a flat, top-rate tax will be imposed on the estate and any testamentary trusts created from that estate. In the article, Richard briefly discusses the circumstances under which a settlor might consider a testamentary trust, alter ego trust or joint partner trust, the latter two of which can only be created after the settlor turns 65.

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