As a member of a blended family you need to pay careful attention to how your estate is structured to avoid inadvertently disinheriting your children.
As a business owner, having a well thought out tax and estate plan is key for financial success.
For many families, it is much more important to preserve the family cottage than any other asset. Those who want to leave the cottage to their children must plan for the tax consequences and disputes which may arise upon their death. The concepts here apply to any vacation property, including a ski chalet or condo.
When an estate or gift is left to a child, it can be subject to a family property claim if the child later separates or divorces. But, there are ways to protect the inheritance, ensuring your child remains the sole beneficiary.