Is there a "Doctor" in the house?

[Cornuck]

I know we don't share much about our personal lives, but I am in financial services, and I have done a lot of work in retirement planning, and estates and wills.

If anyone in the group has any questions about how to arrange shit for your family and help to reduce death taxes, feel free to message me. Getting old sucks but we all have people we want to take care of. If I don't have the answer, I know people who do.

Take care, and Go Canucks Go.

Nice - thanks for the offer, Tciso.

[rats19]

Yes, thnx Tciso

[Tciso]

Don't worry. Any advise would be tempered with sarcastic insults from previous discussions. I ain't a saint.

[donlever]

I ain't a saint.

A posting at CC requirement tbh.

[2Fingers]

I am still trying to get my head around a "death tax".

I was not aware of a specific tax like this unless it is called something else? I know in Japan there is a harsh inheritance tax so maybe that it what it means?

[JelloPuddingPop]

I am still trying to get my head around a "death tax".

I was not aware of a specific tax like this unless it is called something else? I know in Japan there is a harsh inheritance tax so maybe that it what it means?

Its not a specific "death tax" - more over the taxes you have to pay when you die.

At the time of death, for tax purposes - it is treated as if all your assets are "cashed in" - so all your investments, RRIF, etc., which contributes to your overall "income" for the year. You pay taxes on this, and it can be substantial.

Especially if you own multiple property (ie: not primary residence) - as capital gains for folks who bought early in Vancouver/Lower Mainland are usually looking at a pretty significant rise in value for most places.