With the value of some cottage properties likely decreasing sharply due to COVID-19, those who may be thinking about making a potentially taxable transfer with long-term goals in mind may want to do so now. In a new article based on many years’ experience, Tim Brown, Lawyer at Richards Buell Sutton LLP, provides sound advice on the problematic issue of passing the family cottage to the next generation.
Read the full article here.
About the Author
Tim Brown is the Leader of Richards Buell Sutton’s Wealth Preservation and Estate & Wealth Advisory Practice Groups. Tim’s preferred areas of practice are Business Succession and Estate Planning, Corporate law, and Private Business & Family Enterprise Planning. He has an astute ability to work in conjunction with US legal and tax specialists in assisting Canadians with US-based estate planning, and Americans with Canadian-based estate planning. While not an agent, Tim has a special skill set with life insurance-based planning.