For many individuals, it’s important that the cottage stays in the family so that their children (and grandchildren) can continue to enjoy it. However, those planning to pass on the cottage to their children may not realize the potential tax implications that await. If not planned for, your estate may be forced to sell the cottage to pay the tax instead of transferring it to your children. Our latest episode of the Private Wealth Podcast features Manulife Investment Management’s Frances Donald, Chief Economist, who provides a macro outlook and outlines the key macroeconomic trends she believes will shape the economy in the months ahead, and John Natale, Head of Tax, Retirement & Estate Planning Services, who provides an in-depth look at succession tax considerations and wealth transfer strategies.
Listen to the latest episode of the Manulife Private Wealth Podcast: https://www.manulifeprivatewealth.com/ca/en/viewpoints/investor-education/cottage-succession-planning-keeping-the-family-cottage-in-the-family-podcast
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