With a little pre-planning the choice can be yours. Many people don’t realize the tax liabilities hidden within their estate. Did you know that at death your property is assessed at fair market value and any capital gains are taxed? While your primary residence is exempt, the family cottage is not. The value of your RRSP or RRIF is also taken into income and fully taxed.* The resulting taxes can be substantial, and to cover the costs your heirs may be forced to sell property or liquidate investments. But with a well-designed estate plan, you can preserve these assets and make sure they are distributed according to your wishes. If you’d like an assessment of the tax liabilities in your estate or want to learn about developing an estate plan to preserve your assets, please contact us.