Are you thinking about selling or gifting your cottage to your kids? A lot of cottage owners want to keep this property in the family. But, too many of them get hit with a big tax bill because they don’t know how to make the transition.
If you want to avoid tax mistakes, this one’s for you!
In this episode, Kris Dureau shares advice — as a financial planner and fellow cottage-owner — on how to reduce your cottage’s future tax bill. He also dives into the nuances of family dynamics to help you make a confident decision about which child to give or sell the cottage to.
Kris discusses:
- Why cottage property values are surging and how that impacts estate planning
- What to consider when deciding which child will receive the cottage
- Major mistakes people make when selling or gifting a cottage
- Top ways to reduce your cottage’s future tax bill
- And more
Connect with Kris Dureau:
- Green Private Wealth
- Facebook: Green Private Wealth
- LinkedIn: Kris Dureau
- LinkedIn: Green Private Wealth
- Book a call with Kris
- Harbourfront Wealth Management
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