The legacy of love blog

Can you avoid capital gains tax?

capital gains taxes Nov 29, 2018

Most clients ask our office to draft Wills and estate plans that will help them avoid capital gains. This is an impossible wish. Some people will attempt to sell the property to a family member for less then fair market value. This results in any Capital Gain being taxed twice as the gain will be taxed in both the deceased and the family member’s hands. Thus, no net savings.

Some people believe that placing a family member joint on title with them will avoid capital gains. However, the...

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Estate Freeze - The Cold Hard Facts on Business Capital Gains!

Protecting Your Business From Capital Gains Tax – The Estate Freeze

As a business owner, your estate plan should address both your personal and business assets.  However, estate planning for business owners is more complicated as it needs to address potential tax issues.  If you want to maximize the wealth of your estate by minimising its tax burden, an estate freeze is a useful tool. 

 

CAPITAL GAINS TAX

Any assets not inherited by the surviving spouse or...

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Capital Gains and your estate

capital gains estate Sep 12, 2017

We have clients call our office all the time asking “I hear everyone talking about Capital Gains. What is it and what happens when I die?

A capital gain is the increase in value of your capital property. Capital property is an investment or other asset that produces income, or an asset that if sold would produce a profit for you. The federal government currently taxes Capital Gains by you declaring 50% of the gain (profit) as income on your tax return. For example, if you...

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