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How should I include the family cabin in my estate plan?

Many Albertans have fond memories of spending long summer days at the family cabin with parents, siblings, cousins, grandparents, and aunts and uncles – and their intention is usually that future generations will be able to enjoy this family cabin experience as well.  As a result, passing on the family cabin is often a priority when creating an estate plan.  Unfortunately,...

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Advancing Money to Children

Sometimes our children or close family members run into a financial bind and need to borrow money. In many cases both the lender and the borrower assume that this money will be paid back quickly. What happens if the lender, who is frequently an elderly parent, dies before the loan is repaid? In my experience this is when the family feud begins, as the borrower will say this money was a gift to...

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Do I need to worry about taxes eating up my child's inheritance?

inheritance Nov 14, 2018

Canada is generally viewed as a country with no estate tax.  While that's true, what many people don't realize is that a "Deemed Disposition Tax," which is similar to an estate tax, applies when you die.

Taxation Issues
Deemed Disposition Tax is so-named because your investments are deemed to be sold at death. Any capital gains triggered by their sale are included in a...

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Does adoption affect inheritance?

inheritance Nov 07, 2018

Most Wills state that the estate must be shared among the testators children. In many families, it’s obvious who the “children” are while in other families it is less so. An adopted child’s rights against a biological or adoptive parent are very different under Alberta law. When an adoptive parent passes away, an adopted child has exactly the same legal status as a...

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