Tag: Trust

How To Keep Your Cottage in the Family and Reduce Your Future Tax Bill (Ep. 40)

How To Keep Your Cottage in the Family and Reduce Your Future Tax Bill (Ep. 40)

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

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