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Estate Preservation

RRSP values to the next generation

You have worked hard, saved diligently for your retirement, been responsible in spending your retirement savings and now look forward to passing on your residual estate to your heirs.

 

You want your next generation to take your achievement of wealth creation to an even higher level. And along comes the Tax Man with the news that 50% of your taxable estate on your eventual passing must go to the government coffers.

 

Why you ask? Well in Canada, there is a deemed disposition of all of your assets at death for tax purposes. This has the ill-effect of causing large amounts of capital gains and RRIF balances to be included in your final return thus causing your estate to pay taxes at the top tax rates.

 

If your spouse survives you then your assets could rollover to your spouse without triggering a deemed disposition. However, this only temporarily defers the deemed disposition until your spouse passes away at which time the estate taxes would become fully payable.

We can design an estate preservation program that is ideally suited to your situation so that the money to pay this tax is there exactly when you need it.


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