Taxes - Ensuring You Are Prepared

AVOID A TAXING SITUATION

The tax implications on your estate or retirement income can be confusing at best, difficult at worst. By addressing income tax issues in advance through an estate plan, together with you and your accountant we may be able to help minimize things like:

• Capital gains tax on property



• Income taxes on the balances held in registered retirement savings plans (RRSPs) and registered retirement income funds (RRIFs)



• Probate fees



• Special taxes on property outside of Canada

Meanwhile, by integrating tax-related strategies into your estate plan, you can also redirect money destined for taxation to charities at minimal cost to heirs — making sure that instead of the government, you choose how your social capital is spent.

And by studying tax implications today, you’ll provide yourself with choices while maximizing for heirs the assets you intend them to receive