Estate Planning
When it comes to estate planning, it’s crucial to understand the tax implications of capital gains on non-registered investments and real estate, including the family cottage if it’s not designated as the principal residence. These gains become taxable in the year of the death of the second spouse, assuming the investments have rolled over tax-free to the surviving spouse. Each estate is unique, and our goal is to tailor our advice to your specific situation.
We’ll explore strategies to cover potential tax liabilities at the time of death, ensuring that your heirs are not burdened with unexpected costs. This includes discussing the importance of having up-to-date wills and power of attorney documents. These legal tools are essential for ensuring that your wishes are respected and that your assets are managed according to your plans. We’ll work with you to create a comprehensive estate plan that addresses your concerns and secures your legacy.