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Probate in Ontario: Don't Pay the Deceased's Debts Yourself (Crucial Advice)

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Published on YouTube: Probate in Ontario: Don't Pay the Deceased's Debts Yourself (Crucial Advice)

Probate in Ontario: Don't Pay the Deceased's Debts Yourself (Crucial Advice) Probate in Ontario: Don't Pay the Deceased's Debts Yourself (Crucial Advice) Do you always need probate in Ontario? Navigating life as a newly appointed estate trustee can feel overwhelming. Everyone is looking to you for answers, money, and action. In this survival guide, we break down the complex rules, explore hidden shortcuts, and help you dodge the administrative crossfire. Whether you are dealing with a small estate certificate, calculating estate administration taxes, or trying to understand personal liability, this video covers everything you need to know to successfully manage an estate in Ontario Are you acting as an Estate Trustee in Ontario? Before you distribute a single dollar, you need to watch this. Many trustees don't realize that you could be held personally liable for the debts of the deceased—including taxes owed to the CRA if you don’t handle the administration of ...

The Going Concern Assumption: Can Your Canadian Business Survive Insolvency?

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Published on YouTube: The Going Concern Assumption: Can Your Canadian Business Survive Insolvency?

The Going Concern Assumption: Can Your Canadian Business Survive Insolvency? The Going Concern Assumption: Can Your Canadian Business Survive Insolvency? Are you worried your business is no longer a "going concern"? In the Canadian insolvency landscape, this accounting assumption is the difference between restructuring your debt and facing a forced liquidation. In this video, Ira Smith, a Licensed Insolvency Trustee, breaks down what the going concern assumption actually means for Canadian business owners, the risks of ignoring insolvency, and how the Bankruptcy and Insolvency Act (BIA) can be used to protect your business. If you are struggling with CRA tax debt, high interest rates, or cash flow pressure, understanding your status as a going concern is the first step toward recovery. In this video, we cover: 00:00 Introduction: The Going Concern Warning 00:56 The Going Concern Warning: Panic or Plan? 02:40 The 30-Day Survival Plan: The Ticking Clock 03:19 Choosing You...

Debtor in Possession: How to Save Your Canadian Business from Bankruptcy

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Published on YouTube: Debtor in Possession: How to Save Your Canadian Business from Bankruptcy

Debtor in Possession: How to Save Your Canadian Business from Bankruptcy Debtor in Possession: How to Save Your Canadian Business from Bankruptcy Is your Canadian business drowning in debt? If you’re facing pressure from the bank, the CRA, or major suppliers, you need to know about the Division I Proposal under the Bankruptcy and Insolvency Act. Many business owners believe that insolvency means the end of their company. In reality, a formal restructuring allows you to remain in possession of your business while you reorganize your finances, silence your creditors, and stabilize your operations. In this video, Ira Smith, a Licensed Insolvency Trustee, explains how a Debtor in Possession strategy works in Canada and how to protect your livelihood using federal insolvency laws. Timestamps: 00:00 Introduction to Debtor-in-Possession (DIP) Restructuring 01:06 What is Debtor-in-Possession (DIP)? 01:29 Is Your Business Actually Viable? 02:00 Route 1: The Division 1 Proposal 02:31 Fast ...

Digital Assets in an Estate: The Hidden Trap for Ontario Executors

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