If you have family members who live considerably far away, the holidays may be an opportune time to discuss matters of estate planning, as everyone gathers in one place to celebrate and be with loved ones.
In terms of wealth transfer to younger generations, the next decade will see what some are calling a "bequest boom."
You may have heard it before, but it bears repeating: it is never too early to start planning your estate.
In your last will and testament, you can clarify how estate assets should be distributed to heirs. Unless your will states otherwise, your heirs will receive their full share of assets after the estate has been administered.
One important aspect of estate planning is consideration of whether it makes sense for couples to hold investments jointly or separately.
Generally, in Ontario, you can bequeath your estate assets however you choose. There are exceptions, however.
You've taken the important step of creating a last will and testament, so now you can put the matter behind you for good. Right? Not necessarily.
You may have heard it before, but it bears repeating: it's never too early to start planning your estate.
It is estimated that more than 16 per cent of Canadians were over the age of 65 in 2015, and Baby Boomers outnumbered children aged 14 and under.
The federal government recently issued new rules for the Principal Residence Exemption (PRE), which allows for exemption from tax on capital gains if you are selling your primary residence.