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61981.04The author provides a high-level overview, designed for legal support staff, of the continuous disclosure regulatory requirements that apply to reporting issuers in Alberta. Reporting issuers and private issuers are discussed, and common continuous disclosure documents are reviewed, including financial reports, CEO/CFO certification, annual information forms, and shareholder meeting minutes. In addition, continuous disclosure requirements, such as proxies, information circulars, and the timing of disclosure, are highlighted. Finally, the System for Electronic Document Analysis and Retrieval (SEDAR), used to file continuous disclosure documents, is briefly discussed.This paper is part of a collection presented at LESA’s Securities Law for Legal Support Staff program in Calgary on January 7, 2016.
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61981.02Securities law in Canada is comprised of various statutes, regulations, instruments, policies, rules, notices, and common law. This paper provides an overview of the various sources of securities law and the securities regulatory regime, in order to provide a general sense of where securities laws are derived from, and what parties are responsible for administering and overseeing those laws. The author provides a brief review of general corporate law, the Alberta Securities Act, and securities regulation. Additionally, securities rules and enforcement issues are discussed.This paper is part of a collection presented at LESA’s Securities Law for Legal Support Staff program in Calgary on January 7, 2016.
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61980.04Lawyers encounter domestic contracts in various forms: cohabitation agreements, marriage contracts, pre-nuptial agreements, and separation agreements. Consistent amongst these domestic contracts is the judicial analysis of the circumstances surrounding these agreements, and the factors considered in determining their enforceability. In addition to analyzing the enforceability of domestic contracts, the authors outline grounds on which such contracts may be set aside, such as statutorily requirements not being met or inadequate financial disclosure. Further, the role of independent legal advice and its impact on setting aside domestic contracts is discussed, and tips for lawyers giving independent legal advice are provided. This paper is part of a collection presented at LESA’s Advanced Matrimonial Property program in Calgary on January 6, 2016 and in Edmonton on January 12, 2016.
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61980.03Canadian courts and the legal profession have increasingly been tasked with the challenge of responding to cases where matrimonial property includes foreign-held assets. This paper reviews the growing issue of how to effect an equitable distribution of matrimonial property and what jurisdiction Canadian courts have in dealing with foreign assets. The authors discuss equalization of assets through reappointment of Canadian assets. Additionally, there is consideration for when the distribution of Canadian assets is not enough to effect an equitable distribution. Under this section of the paper, the authors review and discuss in personam orders regarding foreign property, deference to the foreign jurisdiction, and compensation orders. This paper is part of a collection presented at LESA’s Advanced Matrimonial Property program in Calgary on January 6, 2016 and in Edmonton on January 12, 2016.
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61980.02Representing a farm or ranch client with agricultural assets in divorce proceedings can raise unique issues. This paper reviews some of those issues and provides information about divorces on the family farm or ranch, including considerations for whether it is an individual or corporate operation. The paper includes a discussion of land value determination, and reviews factors that can affect the value of the land. Other issues that can arise when dealing with farm and ranch divorces, such as leases, machinery and equipment, inventory, and exemptions are also discussed. Additionally, tips for reaching settlement are provided. A summary checklist for dealing with agricultural operations in divorce proceedings is also included. This paper is part of a collection presented at LESA’s Advanced Matrimonial Property program in Calgary on January 6, 2016 and in Edmonton on January 12, 2016.
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61980.01Family trusts have become more prevalent, with clients not only being the beneficiaries of family trusts, but also creating trusts for tax and estate planning purposes. The question for family law practitioners is how those interests are divided upon separation. In the context of matrimonial property division, this paper discusses the interests a spouse has in the family trust income or assets held by his or her partner, as well as trusts created during marriage.This paper is part of a collection presented at LESA’s Advanced Matrimonial Property program in Calgary on January 6, 2016 and in Edmonton on January 12, 2016.
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61978.01Corporate year end statements can play an important role when determining child support and matrimonial property division. Therefore, lawyers need to be able to read, comprehend, and learn to read between the lines when it comes to corporate year end statements. This paper outlines information to review and consider when dealing with financial statements, including how to impute income for shareholders, question corporate expenses, and value corporations. Relevant provisions of the Federal Child Support Guidelines are also considered with respect to reviewing corporation financial statements. This paper is part of a collection presented at LESA’s Reading Tax Returns and Corporate Financial Statements program in Edmonton on December 1, 2015 and in Calgary on December 8, 2015.
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61978.03Dealing with farm income can be a detailed process, but it doesn’t need to be a daunting one. The authors of this paper provide helpful considerations when confronted with a file that requires a determination of farm income. A brief background of farming corporations, sole proprietorship farms, and hobby farms is provided, and revenue sources and levels of income are discussed. Additionally, the authors review expenses, deductions, and adjustments applicable to farm income. A sample T1 General Return, Statement of Farming Activities for Individuals, and Farming Calculation of Capital Cost Allowance are included.. This paper is part of a collection presented at LESA’s Reading Tax Returns and Corporate Financial Statements program in Edmonton on December 1, 2015 and in Calgary on December 8, 2015.
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61978.02The first step in determining child support is to calculate the payor’s income pursuant to the Federal Child Support Guidelines [Guidelines]. This can be a complicated process when the payor has a fluctuating income, is a corporate shareholder, or operates a sole proprietorship. This paper helps guide readers through the income calculation process and provides an overview of the adjustments to sources of income as set out in Schedule III of the Guidelines, such as employment expenses, social assistance, and dividends from taxable Canadian corporations. The authors also provide practical considerations for income calculation when dealing with a sole proprietorship and for the inclusion of rental income. Relevant tax forms from the Canada Revenue Agency are included as appendices.This paper is part of a collection presented at LESA’s Reading Tax Returns and Corporate Financial Statements program in Edmonton on December 1, 2015 and in Calgary on December 8, 2015.
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61979.04Well drafted bylaws serve as an invaluable tool for those who look to them for guidance. This paper provides clarity and guidance with respect to the bylaw drafting process. The authors’ analysis focuses primarily on statutory requirements and their incorporation into the bylaws. Several overarching subject matters applicable to drafting bylaws are addressed, including provisions related to directors, committees, officers, shares, and meetings of shareholders. A sample corporate bylaw and a sample advance notice bylaw are also provided.This paper is part of a collection presented at LESA’s Corporate Drafting seminar in Edmonton on December 2, 2015 and in Calgary on December 9, 2015.
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61977.06This paper provides a number of important planning and drafting considerations that should be taken into account when drafting your first will. The author includes a review of various descendants, property rights, and the limits of testamentary freedom.This paper is part of a collection presented at LESA’s Drafting Your First Will program in November, 2015.
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61977.05Understanding and recognizing tax issues is helpful when drafting a will, allowing clients to maximize the estate that is left to their beneficiaries. This paper provides a general overview of some of the more common tax issues, the pitfalls, and the planning opportunities that may be available when drafting a client’s will.This paper is part of a collection presented at LESA’s Drafting Your First Will program in November, 2015.
