Published: February 5, 2020
Last Updated: April 5, 2021
The biggest mistake in estate planning is not taking into account the taxes payable on death.
There is a deemed disposition of capital assets when an individual dies which gives rise to a large tax owing in the estate. Bequests often do not take into account the net after-tax value of the estate.
Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
