In this episode of Your Estate Matters, we’re talking about the estate planning and tax mistakes many Canadians make without realizing it. We’re joined by Amanda, host of The Tax Chick Podcast, for an in-depth conversation about how to protect your family, your assets, and your legacy.
We discuss:
• Why having a will does NOT mean your estate plan is finished
• The tax consequences of RRSPs and RRIFs after death
• Why beneficiary designations need to be reviewed regularly
• What probate is and when it may apply
• The risks of adding your children to your home or bank accounts to avoid probate
• Deemed disposition and unexpected tax bills when you die
• Estate planning considerations for cottages and family properties
• How trusts work and when they may or may not make sense
• What Canadians should review each year to avoid estate tax surprises
Whether you’re approaching retirement, already retired, a business owner, or simply want to make sure your family is protected, this conversation offers practical estate planning considerations to discuss with your professional advisors.
The three things Amanda recommends reviewing this year: your beneficiary designations, your original will, and your non-registered investment accounts.
This podcast is for informational purposes only and should not be considered individual legal, financial, or tax advice. Please consult a qualified advisor regarding your own circumstances.
Learn more about Heritage Trust: heritagetrustcompany.ca
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Find Amanda at The Tax Chick:
thetaxchick.ca
The Tax Chick Podcast
LinkedIn: Amanda
Instagram: @tax.chick
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By: Canadian Estate Planning
Title: How to Avoid Tax Surprises in Estate Planning with Amanda Doucette
Sourced From: www.youtube.com/watch?v=SNDHFer63gc
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