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[ad_1] Planning for your death may not be pleasant, but it’s important for the family left behind. Planning for your digital legacy is equally important. Planning...
[ad_1] If the RRIF is not set up this way, there will be immediate tax consequences, and the estate wishes of your husband may not play...
[ad_1] The essential guide to inheritance planning Neglecting to plan your inheritance is a bit like leaving your garden unattended for a few seasons. What starts...
[ad_1] Gifting some or all of a rental property The act of adding a name to a property itself does not give rise to capital gains...
[ad_1] Loan forgiveness is an option If you loan money to a child, you can forgive the loan during your life or upon your death. Of...
[ad_1] Should you keep renting a cottage or buy one? You don’t need me to explain the personal perks of having a vacation home or a...
[ad_1] Die Broke is the book where I first encountered the colourful quip about how the last cheque you write should be to your undertaker, and...
[ad_1] RESP contributions grow tax-deferred and are eligible for government grants and bonds. Withdrawals are partially taxable and partially tax-free. The taxable portion can be taxed...
[ad_1] The basics: U.S. estate tax for non-residents The U.S. imposes estate taxes on the worldwide estates of its citizens and residents. However, as a Canadian...
[ad_1] Many non-financial assets depreciate in value. Cars, furniture and other such assets tend to be worth less over time, and they are generally not subject...
[ad_1] What is an executor? An executor is a person named in your will who will be responsible, after you die, for making sure that your assets are...
[ad_1] If you are going to sell next year, it is worth paying $833 of tax a year earlier? Think of it like debt. Imagine you...
[ad_1] Capital gains tax, Nazim, might apply to some of your assets. If you own non-registered stocks or a rental property, for example, they might be...
[ad_1] There’s often a stigma around discussing money, but I’ve found it really helpful to have these conversations early and often. My husband and I have...
[ad_1] When you give cash or assets to a family member to invest, there may be attribution of that income back to you. Attribution causes income...
[ad_1] 1. The gift of security Love also means security. Yet, surprisingly, half of Canadians don’t have a will, according to a 2023 Angus Reid poll....
[ad_1] When you inherit real estate, any accumulated tax, if applicable, is generally paid by the estate of the deceased. This is because when a taxpayer...
[ad_1] What is Estate Administration Tax in Ontario? Estate Administration Tax, commonly known as probate fees, is a mandatory tax imposed by the Ontario provincial government....
[ad_1] First, it bears mentioning that wills typically provide discretion to the trustees to sell, call in or convert into cash any part of an estate...
[ad_1] At 67, you’re presumably at or near retirement. If you have $1 million in IRAs, it may be attractive to converting to a Roth because...