Posts by Shelley Courser
Ask a Lawyer – I have two children, and in my Last Will and Testament, I would like to leave one of them my home and one of them my cottage. They are both about the same value. Will this be fair?
Answer – Under current Canadian law, in most instances, your primary residence will transfer from your estate tax free while your cottage will be taxable. A cottage, or any other second piece of real estate will be subject to a capital gains tax. The tax amount would be calculated on fifty percent (50%) of the…Read More